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Parallel Protocol
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Parallel Protocol
Introduction
Mimo Protocol
What is PAR (Parallel token)?
How does PAR work?
Where can I get PAR ?
What is MIMO (Governance Token) ?
Vaults
DAO & Governance
vMIMO and Voting Power
Governance process
Proposal Framework
DAO Multisig
Risk Assessments
Mimo's Risk framework
Methodology
Risk per Assets
Risk parameters
Developers
Smart Contract Architecture
Developer Guide
Contract Addresses
Code Repositories
Resources
User Guides
Security Audits
Links
Glossary
Press Kit
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What is PAR (Parallel token)?
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PAR is a stablecoin backed by collateral, and can only be minted with governance-approved collaterals. PAR are created when users deposit accepted tokens (such as WETH, WBTC, USDC, etc) as collateral in vaults and in turn receive a loan against that collateral.
Token symbol: PAR - Token contract (Ethereum): 0x68037790a0229e9ce6eaa8a99ea92964106c4703 - Token contract (Polygon): 0xe2aa7db6da1dae97c5f5c6914d285fbfcc32a128 - Token contract (Fantom): 0x13082681E8CE9bd0aF505912d306403592490Fc7​

PAR is non-custodial

There are no counterparties involved in the minting and burning of PAR tokens, as actors in the network transact directly with the PAR smart contracts. Vaults are non-custodial, with each borrower having full control over their collateral and borrowed PAR balances, provided it meets the minimum health factor governed by the protocol as a whole.
You can use PAR to earn yield by Staking or Liquidity Providing.
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How does PAR work?
Last modified 28d ago
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PAR is non-custodial