Smart Contract 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.

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