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
Discover blockchain applications that are frequently used with Parallel Protocol.
HypurrFi
Ape Finance
GAIB
Reserve Protocol
Developer resources from Alchemy
Complete guide to Hyperliquid RPC providers: top 8 solutions for 2026
Looking for the best Hyperliquid RPC in 2026? This guide showcases the best providers.
Tempo Testnet is live on Alchemy: the payments-native blockchain
Tempo is a Layer 1 blockchain built specifically for institutional payments and stablecoins, featuring payment-optimized infrastructure, native account abstraction, and sub-second finality with Alchemy support.
How Slash built stablecoin banking with smart wallets
How Slash uses smart wallets to power gasless stablecoin banking for 3,000+ businesses globally
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.
