Logo of Parallel Protocol V2Parallel Protocol V2(PRL)

Total Value Locked$517,090

TVL by Chain

Ethereum$475,257

Polygon$41,739

Fantom$93.25

Protocol Information

Parallel is a decentralized protocol that issues stablecoins, PAR (EUR stablecoin) and paUSD (USD stablecoin), on the Ethereum, Polygon and Fantom blockchains. The PAR & paUSD stablecoin are decentralized, non-custodials, and collateral-backed FIAT stablecoins.

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Category:CDP

Audits:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHub

Competitors

QiDao ($2.28m)DEUS FinanceAbracadabra Spell ($4.85m)mStable CDP ($2.8m)Angle ($1.81m)Iron Finance ($315,779)xDollar ($165,709)Davos Protocol ($24,407)MahaDAO Arth ($20,102)Sky Lending ($5.994b)

Frequently Asked Questions

What is Parallel Protocol V2's TVL?

Parallel Protocol V2 currently has $517,090 in total value locked. TVL has decreased 7.8% over the past 30 days.

What chains does Parallel Protocol V2 operate on?

Parallel Protocol V2 operates on 3 chains: Ethereum, Polygon, and Fantom. Ethereum holds the largest share at 91.9%.

How does Parallel Protocol V2's TVL compare to similar protocols?

Among CDP protocols tracked by DefiLlama, Parallel Protocol V2 ranks #49 by TVL. The category holds $8.205b across 199 protocols, and Parallel Protocol V2 accounts for <0.1% of that total. Other leading protocols include QiDao, DEUS Finance, Abracadabra Spell, mStable CDP, Angle, Iron Finance, xDollar, Davos Protocol, MahaDAO Arth, and Sky Lending.