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Parallel Finance – parallel.fi

Parallel Finance is a Decentralized Money Market Protocol that offers lending, staking, and borrowing in the Polkadot ecosystem. Depositors can lend and stake simultaneously to earn double yield on their staked coins, and borrowers can collateralize to borrow.

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Parallel Finance Details

Parallel Finance Categories

Categories that this web3 project has been tagged with in the Watch Crypto web3 directory are:

Blockchain Ecosystems

Blockchains and distributed ledger technologies (DLTs) that Parallel Finance is integrated with or built on include:

Token Earn Modules

Earn modules for getting airdrops and rewards for Parallel Finance include:

Parallel Finance Niches and Keywords
Parallel Finance falls under the following web3 niche topics and keywords:
Crypto lending, Omni-chain L2, defi, native yield, NFT yield, restaking, crypto, web3, dApp.

Parallel Finance Token Status

Token status:
Upcoming Token Event

Token Event Type
ICO (initial coin offering)

Token Sale Launchpads or Hosting Sites
parallel.fi

Token Event Date
TBD

Parallel Finance Overview, Team, and Links

Parallel Finance is a Decentralized Money Market Protocol that offers lending, staking, and borrowing in the Polkadot ecosystem. Depositors can lend and stake simultaneously to earn double yield on their staked coins, and borrowers can collateralize to borrow.

The project refers to this feature as “leverage staking,” because users can lever up against their staking collateral to increase their yield overall. In addition, when a user’s DOT and KSM are staked through Parallel, a reputation-determining algorithm is applied which maximizes staking yield on behalf of the user.

Website:
The official website can be found here: https://parallel.fi

Documents:
The documents can be found here: https://docs.parallel.fi/

Tokenomics:
The tokenomics can be found here: https://docs.parallel.fi/parallel-finance-polkadot-app/tokenomics-para-+-hko

Parallel Finance Social Media Accounts

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