Parallel
Crypto Overview
Overview
Parallel (PAR) is the native token of the Parallel Defi protocol, which operates on the Ethereum blockchain. The protocol aims to provide permissionless lending and borrowing services.
Purpose and Utility
The primary purpose of PAR is to serve as a governance token for the Parallel protocol, allowing holders to participate in decision-making regarding protocol parameters and upgrades. Additionally, PAR tokens are used for protocol fee distribution and liquidity mining incentives.
Business Model Analysis
The core business model revolves around decentralized lending and borrowing services, which inherently involves interest-bearing transactions. The protocol generates revenue through lending fees and interest payments.
Real-World Adoption
The protocol has seen limited adoption in the DeFi space, with most activity centered around lending and borrowing operations. While the development team appears active, the primary use case remains focused on interest-based financial services.
Platform Development
The project maintains regular development activity on GitHub, with ongoing updates to the protocol's smart contracts and user interface. The team has demonstrated commitment to improving the platform's functionality and security.
Crypto Impact
To assign a comfort level investing in Parallel from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Parallel.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.