The Parallel (PAR) is a protocol that operates on the Ethereum blockchain. PAR is a decentralized stablecoin issuance protocol. Parallel tokens are noncustodial, decentralized, fully redeemable, and collateral-backed assets pegged to a traditional currency. Further, these coins are kept stable by collateral locked in smart contract vaults. The platform aims to progressively decentralize itself over time, passing control to a diverse community holding the governance token.

According to the website, the mission of this platform is to provide the safest way to access the best services on the blockchain. The platform also aims to start with a protocol that provides a safe way to mint and earn new stable tokens pegged to the euro. Minting means verifying information, making a new block, and recording that information into the blockchain. As per the whitepaper, the various features of this project are:

The Parallel network launched its whitepaper on May 5, 2021. The CEO of this project is Claude Eguienta, while Toby Hoenish is the network's cofounder and chief financial product officer.

We update our Parallel to GBP currency in real-time. Get the live price of Parallel on Coinbase.

The current market cap of Parallel is £2.071M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Parallel is £2.78. This all-time high is highest price paid for Parallel since it was launched.

Over the last 24 hours, the trading volume of Parallel is £627.43.

Assets that have a similar market cap to Parallel include MonkeDAO, Poken, Robora, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Parallel is 2.2 million.