Architecture

​The Parallel Protocol is a collection of decentralized and non-custodial smart contracts built to support the rest of the Decentralised Finance (DeFi) ecosystem:

• Vaults Core: The main contract to interact with the Parallel protocol. All calculations happen here.

• Vaults Core State: Owns the global state (cumulative rates & last refresh) for each collateral type available to borrow against. All state updates & calculations happen here

• PAR: PAR is a standard ERC20 tokens, whose value is pegged to the EUR fiat currency.

• paUSD: paUSD is a standard ERC20 tokens, whose value is pegged to the USD fiat currency

• Rates Manager: Stateless. Calculates debt and fees for each Vault.

• Liquidation Manager: Stateless. Calculates health factors and liquidation variables.

• PriceFeed: Responsible for retrieving collateral prices in fiat, for calculating Vault health factors.

• FeeDistributor: Responsible for collecting and distributing protocol fees.

• AddressProvider: Indexes all module addresses read by other modules.

• ConfigProvider: Responsible for updating protocol config parameters.

• VaultsDataProvider: Owns vault state, base debt, and vault related read functions.