Parallel is a decentralized protocol that issues stablecoins, the € stablecoin (PAR) and the $ stablecoin (paUSD), on the Ethereum, Polygon and Fantom blockchains. The PAR & paUSD stablecoin are decentralized, non-custodials, and collateral-backed FIAT stablecoins.
How is Parallel governed?
The Parallel Protocol is a DAO-governed protocol. Changes are made through proposals that are voted with vMIMO, which are obtained by staking MIMO governance tokens.
Is Parallel secured ?
The Parallel Protocol has been audited and secured. The protocol is completely open source, which allows anyone to interact with a UI client, or directly with the smart contracts. Being open source means that anyone can build a third-party interface, service, or application to interact with the protocol and enrich their product.
Additional information and resources about Parallel
Feel free to refer to the White Paper for a deeper dive into Parallel Protocol mechanisms. Developers can access the Developer documentation for a technical description of the Parallel decentralized protocol. For detailed risk analysis, please visit the risk framework.