Parallel Finance

Parallel Finance

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About Parallel Finance

About Parallel Finance:

Parallel Finance is an institutional-grade lending protocol backed by the likes of Sequoia, Founders Fund, Polychain, Lightspeed Venture Partners, Slow Ventures, Blockchain Capital and Alameda Research. Parallel Finance specialises in decentralised finance-related services and products, which include lending, trading, staking, and derivatives on multi-chains while assuring user safety and security. Since its inception in April 2021, Parallel Finance seeks to add more pragmatic tools like interest rate swaps for long-term growth to DeFi. Parallel offers leverage staking and auction lending as its primary services, offering higher yield and more opportunities to users to become the go-to lending solution for Polkadot (DOT) and Kusama (KSM) stakers.

Parallel Finance has already achieved over $700 mil in TVL and has captured 22% of the total DOT crowd-loan market to date, beating out top crypto heavyweights Binance and Kraken for crowd-loan contributions. It seeks to bring further transparency in terms of the quality of borrowers and their debts. Parallel Finance's credit reporting system provides lenders with an additional line of defence and brings a check against rogue institutional borrowers. For more information, visit https://parallel.fi/.

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