Parallel Finance
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About the company
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We are a decentralized money market and leaders in the space to offer lending, staking and borrowing in the Polkadot ecosystem. As of March 2022, we are valued at $1 Billion and backed by some of the best investors in the valley, including Sequoia Capital, Blockchain Capital, Lightspeed, and Peter Thielās Founderās Fund. We are a global company and vastly growing; we have ~100 employees worldwide and are looking to double our headcount by 2023. Our mission is to bring DeFi to 1 Billion people.
Parallel Finance was founded in 2021 by Yubo Ruan. The company is headquartered in Stanford, California.
Parallel Finance is currently in testnet on both Polkadot and Kusama networks. The protocol offers two key services: leverage staking and liquidity mining.
Parallel's leverage staking enables users to borrow against their staking collateral to increase their yield, and liquidity mining allows users to stake their Polkadot (DOT) tokens to receive Parallel's native tokens.
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