Parallel retweeted
@ParallelMoney is voting to wind down $PAR, its legacy V2 euro stablecoin, as the DAO shifts fully to its V3 system.
V3 replaces V2's architecture with a modular, scalable design built to fix V2's scalability limits and high incentive costs. Its three assets are $USDp (dollar stablecoin), $EURp (euro stablecoin replacing $PAR), and $PRL (governance and utility token).
$PAR's circulating supply, active vaults, and liquidity have been shrinking while monitoring and risk overhead remain non-trivial.
Phase I reuses the same wind-down template Parallel ran on $paUSD, its V2 dollar stablecoin, in November 2025:
- 50% annual borrow rate across every $PAR collateral on Ethereum and Polygon, making new borrowing uneconomical
- debt limits kept open only on $wETH, $wBTC, and $USDC so existing borrowers can exit cleanly
- 22 unused Ethereum vaults and 10 Polygon vaults set to zero
Proposal author @cooper_labs argues this "concentrates the wind-down on assets where borrowers genuinely need headroom to unwind, and materially reduces the protocol's risk surface."
5 wallets in favor, 0 against. Voting runs till April 24.
Proposal: snapshot.box/#/s:parallel-pr…
Parallel retweeted
We’ve partnered with @ParallelMoney to bring new campaigns to Purrlend.
Borrow USDC & USDT using sUSDp and earn rewards distributed by @merkl_xyz in the process.
Earn 6.5% native APY on sUSDp supply and 10% on borrowing USDC/USDT0.
Powered by @redstone_defi .
Your capital shouldn’t be sitting idle.
Parallel retweeted
Huge respect to @pablo_veyrat and the @AngleProtocol team for what they built, and for handling the wind-down transparently.
At Cooper Labs, we chose to fork Angle’s codebase to build @ParallelMoney v3, and we’ll keep developing and maintaining it.
Thanks again to the Angle team for the hard work and wishing you all the best with @merkl_xyz !
We've just posted a proposal for the orderly wind down of the @AngleProtocol EURA and USDA stablecoins.
Why?
Activity has been steadily declining, and maintaining an idle protocol creates unnecessary smart contract liability.
The decentralized stablecoin space has evolved: yield-bearing stablecoins are essentially a branding layer on top of vaults and lending protocols that already exist everywhere. There's no strong reason to keep running infrastructure for something others do natively.
A huge thank you to everyone who believed in Angle and supported it along the way. It's been a great experiment and an incredible ride. The protocol remains fully collateralized, and the proposal gives everyone 1 year to redeem at 1:1 with no haircut, with a 2-year total window to recover funds. I'll probably write a longer piece to reflect on the learnings from building a decentralized stablecoin.
The proposal will be submitted to a vote shortly.
Separately, the surplus airdrop proposal has passed! The airdrop will be based on ANGLE balances as of March 5th. Make sure to bridge your ANGLE back to Ethereum and withdraw any liquidity before then to be eligible.
Parallel retweeted
New bug bounty! 🤩
@ParallelMoney is a capital-efficient, modular stablecoins protocol that allows the creation of over-collateralized, decentralized stablecoins.
Find bugs - get $250,000!
immunefi.com/bug-bounty/para…
Parallel retweeted
Incentivizing full-range stablecoin liquidity isn’t efficient. @GyroStable’s ECLPs let protocols concentrate liquidity exactly where it’s needed.
The $EURA | $PAR pool, featuring Euro stablecoins from @AngleProtocol and @ParallelMoney, focuses between $0.97–$1.05.
🔗 app.aura.finance/#/1/pool/21…
Parallel retweeted
slpUSDC | USDC on Eth --- 26% @loopfixyz
EURA | PAR on Eth (euros) --- 25.7% @AngleProtocol @ParallelMoney
sUSDX | USDX on Arb --- 24% @StablesLabs
paUSD | GYD on Eth --- 22% @GyroStable
AUSD | USDC | savUSD on Avax --- 17% @withAUSD
EURC | GHO on Base --- 14.8% @aave
Parallel retweeted
The institutions are here - and they're trading on Definitive.
We've been quickly growing our community of leading funds, OTC desks, DAOs, and onchain apps. Shoutout to our new clients and partners 🫡
@Blockfills: expanding their universe of tradable assets onchain.
@Truemarketsco: algo-optimized smart routing on Solana via our API.
@Blockassetco @BlockBetGG: powering buybacks with our TWAPs.
@ParallelMoney: optimizing DAO treasury ops with advanced trading.
@Circle: Alliance membership alongside industry leaders.
@OKX @wallet: DEX integration offering deeper liquidity on every trade.
RT @mimo_labs: 📍 Mimo Labs is co-hosting in Dubai!
Join us on April 30 for the @021_xyz VC Mixer — an intimate gathering of VCs and founde…
Parallel retweeted
📍 Dubai, here we come 🇦🇪
We’re heading to @token2049 on April 30 – May 1, to talk DeFi, stablecoins, and RWA.
If you’re there, let’s connect. 🤝
Parallel retweeted
🇫🇷 Back from @signalweek
A week full of sharp minds and fresh perspectives on DeFi, RWA and stablecoins!
We’re leaving Paris with new ideas, strong connections, and even more conviction.
Onwards.
Parallel retweeted
🇫🇷 Paris in the spring.
Big ideas, sharper questions.
We’ll be there for the conversations that matter:
DeFi, RWAs, stablecoins, and what it takes to scale with purpose.
Find us at @signalweek 🥐
Parallel retweeted
🎙️ March 28 | 3 AM UTC
Our VP of Growth, @RafikFellal, will be speaking tomorrow at "AI Agents: The Next Frontier or Over-hyped Bots?" hosted by @tbvxyz & @Gate_io.
Alongside: 🔥 @TobiasTBV, @Brent_Fulfer, @kevinlee_gate, @Collectxrnft, @birdshot_bot, @Danny_Hau888, @BeraPump & @SteveWoodUS
🔗 Join the conversation: xitter.cf/i/spaces/1eaKbWyRYOXGX…
#AIAgents - The Next Frontier or Over-hyped bots?
🌶️ Tune in for hot takes from @TobiasTBV @Brent_Fulfer @kevinlee_gate @RafikFellal @Collectxrnft @birdshot_bot @Danny_Hau888 @BeraPump @SteveWoodUS
📡 @tbvxyz @Gate_io
📅 Fri March 28 at 3am UTC
📍 xitter.cf/i/spaces/1eaKbWyRYOXGX
Parallel retweeted
📍 Heading to Bangkok 🇹🇭 for @SEABWofficial!
🧱 Let's talk about bringing RWAs on-chain, building resilient DeFi infra, and scalable stablecoin use cases.
If you're attending as well, let’s talk! 📩
Parallel retweeted
We are currently in the process of conducting an audit for our partners @ParallelMoney.
BailSec is tasked with an audit of the Parallel V3 Core contracts.
Stay tuned for important updates by following @bailsecurity.
Parallel retweeted
🎙️ AI Agent Day Denver
Honored to be part of a great panel discussing how AI agents are shaping the financial industry.
Big thanks to @AethirCloud, @0G_labs, @exa_bits, @Delphi_Ventures, @hack_vc, and everyone who joined the conversation 🤝
Parallel retweeted
📢 Mimo Labs at ETH Denver! 🇺🇸
From Feb 23 - Mar 2, our team will be at @EthereumDenver, engaging discussions on RWA tokenization, liquidity infrastructure, and DeFi’s next evolution.
With institutional adoption accelerating, we’re excited to connect with those shaping the future of finance.
Let’s talk!
Parallel retweeted
📅 Hong Kong, we’re almost there!
In just a few days, the Mimo Labs team will be at @consensus_hk by @CoinDesk.
We look forward to connecting with industry leaders to discuss the next phase of blockchain finance.
If you’re attending, let’s meet up! 👋
Parallel retweeted
🚀 We are heading to Consensus Hong Kong!
From February 18-20, our team will be attending @consensus_hk, the flagship event by @CoinDesk, bringing together the top minds in blockchain, DeFi, and institutional finance.
See you in Hong Kong! 🇭🇰
Parallel retweeted
We're currently in the process of conducting an audit for @ParallelMoney.
BailSec was tasked with an audit of @ParallelMoney PRL Token.
Be sure to keep yourself informed by following @bailsecurity for important updates.
Parallel retweeted
on snapshot for approval until December 16th: snapshot.box/#/s:mimo.eth/pr…
We published a proposal on the @ParallelMoney governance forum to start the phase II of our service providing.
Proposal: gov.mimo.capital/t/pgp-21-l-…
Over the past 2 months we have:
- Introduced Tunnel, the Parallel Bridging Infrastructure
- Released the MVP of the new dApp
- Opened discussions 1 around a MIMO token upgrade (following an internal PoC)
- Opened discussions around a new Parallel tokenomics (following an internal PoC)
- Cleared proposals pending execution, more informations available here 1
Current & Future Work:
1. Products Development
- new tokenomics + offchain products to support the protocol (liquidation bots, solvers, etc.)
2. Ecosystem Development
- same as in phase I
3. Governance
- same as in phase I
4. Team Expansion & Operations
- a DevOps is joining the team to work on future offchain products
Requested Budget: 264,000 USD & 300,000 MIMO for a 6-month period (or 44,000 USD & 50,000 MIMO per month)