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Description

The protocol enables cryptocurrency loans without requiring any crypto assets as collateral. This innovation is the crucial element that finally makes crypto lending accessible to a larger segment of the global population. Through the Goldfinch community, loans are provided to businesses around the globe, particularly focusing on emerging markets. Goldfinch aims to broaden the availability of capital in these regions, where cryptocurrencies can significantly advance financial inclusivity. By utilizing the concept of trust built through consensus, the Goldfinch protocol allows borrowers to demonstrate their creditworthiness based on the shared evaluations of other users, rather than relying solely on their cryptocurrency holdings. This collective evaluation serves as a key indicator for the automatic distribution of funds. By eliminating the necessity for crypto collateral and offering a means for generating passive income, the protocol significantly increases the number of potential borrowers able to access cryptocurrency solutions, as well as the array of capital providers seeking investment opportunities. Ultimately, this model fosters a more inclusive financial ecosystem that benefits a diverse range of participants.

Description

Parallel aims to revolutionize decentralized finance (DeFi) by creating a highly secure and user-friendly platform that grants everyone access to essential financial services. By simply providing assets, users benefit from optimized yields without the complexities typically associated with DeFi, all in a secure and decentralized environment. Our innovative approach introduces a unique financial instrument for staked DOT, enabling users to earn interest through staking while retaining liquidity, thus avoiding lockups and protracted unlocking processes; this instrument will be known as xDOT. With xDOT, lenders can generate interest income, while borrowers can leverage their DOT to obtain loans denominated in stablecoins, eliminating the need to sell their DOT. The Parallel lending protocol implements a pool-based strategy to aggregate assets supplied by users, facilitating a DOT, sDOT, and USDT pool where participants can deposit their assets and earn competitive interest rates. This comprehensive lending solution not only enhances liquidity but also encourages broader participation in the DeFi ecosystem. Ultimately, Parallel is committed to making financial services more accessible and efficient for everyone involved.

API Access

Has API

API Access

Has API

Screenshots View All

Screenshots View All

Integrations

MetaMask
Avalanche
Ethereum
Kusama
Phantom
Polkadot
Polygon
Solana
Telegram
polkadot{.js}

Integrations

MetaMask
Avalanche
Ethereum
Kusama
Phantom
Polkadot
Polygon
Solana
Telegram
polkadot{.js}

Pricing Details

No price information available.
Free Trial
Free Version

Pricing Details

No price information available.
Free Trial
Free Version

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Vendor Details

Company Name

Goldfinch

Website

goldfinch.finance/

Vendor Details

Company Name

Parallel

Founded

2021

Website

parallel.fi/

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