Parallel Protocol
Parallel Protocol is an over-collateralized decentralized stablecoin protocol that mints USDp backed by yield-generating correlated assets across multiple chains.
What is Parallel Protocol?
Parallel Protocol is a decentralized stablecoin protocol on Base, Avalanche, and Ethereum that mints USDp against an approved basket of yield-generating correlated assets at oracle prices. Holders can swap between USDC and USDp without slippage, deposit USDp into the savings module to earn around 6% APY, or redeem stablecoins for the underlying collateral at any time.
Web3 dapps and developer tools related to Parallel Protocol
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Developer resources from Alchemy
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Parallel Protocol alternatives
Explore web3 competitors and apps like Parallel Protocol.
River Inc
Frax Finance
Metastable
dTRINITY
App store listings are independently reviewed and written by Alchemy using a combination of inbound submissions, editorial research, public project sources, and third-party directories, including ecosystem data from The Grid under the Open Database License, DefiLlama, DappRadar, Reown, and chain ecosystem pages.
