Parallel Protocol
Decentralized CDPs
Parallel Protocol
Parallel Protocol is an over-collateralized decentralized stablecoin protocol that mints USDp backed by yield-generating correlated assets across multiple chains.
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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.
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