How do you feel about Parallel today?

Today's PAR price

The 24-hour trading volume is $1.35. The latest PAR price is $1.0007, based on the most up-to-date USD market data. Parallel is +0% in the last 24 hours with a circulating supply of -.

PAR price history (USD)

What is Parallel?

Parallel is a multifaceted platform within the cryptocurrency ecosystem, serving various functions across its digital collectible platform and its role in the broader crypto finance space. It encompasses a digital collectible platform boasting over 37,000 assets that users can borrow, highlighting its significant presence in the digital asset and NFT (Non-Fungible Token) market. This platform is governed by the ParagonsDAO, which utilizes the PDT token. Holders of PDT have the ability to participate actively in the governance of the platform by submitting proposals and electing council representatives, demonstrating a decentralized approach to decision-making. Additionally, PDT holders have the opportunity to stake their tokens, which allows them to earn a share of game tokens, further incentivizing participation and investment in the ecosystem. Parallel also plays a crucial role in the decentralized finance (DeFi) sector through its cryptocurrency, PAR, which is an overcollateralized and decentralized EURO-pegged stablecoin issued by the Mimo protocol. This stablecoin is designed to be multi-chain, ensuring its utility across various blockchain networks, and is backed by a diverse range of collaterals, including assets that are conservative, decentralized, and productive. The versatility of PAR is evident in its wide range of uses, from generating yield and leveraging price and yield to providing liquidity and serving as collateral in financial transactions. Furthermore, Parallel aims to enhance liquidity within the crypto market by unifying liquidity from different blockchain networks into a single, accessible platform. This ambition is supported by partnerships with other cryptocurrencies and blockchain projects, such as Chainlink, which underscores Parallel's commitment to interoperability and collaboration within the crypto space. It's important for individuals to conduct thorough research and consider their own financial situation before engaging with or investing in cryptocurrencies and related platforms.