Parallel Protocol V2 Review: Is It Still Usable?
Parallel Protocol V2 is described as a protocol for issuing PAR and paUSD stablecoins, but its official site now describes Mimo Capital’s bond-tokenization business. Current access and operating details are unclear.
By the SkyBitcoins review team · Updated
At a glance
Parallel Protocol V2 key facts
| Type | Collateral-backed stablecoin protocol |
|---|---|
| Stablecoins | PAR (EUR) and paUSD (USD) |
| Chains | Ethereum, Polygon, Fantom |
| Current site | Describes Mimo Capital bond tokens |
| Token | PRL |
| Value locked | $427K−9.2% 7d |
| Audits | 2 audits listed |
| Updated |
Parallel Protocol V2 FAQs
What is Parallel Protocol V2?
Parallel Protocol V2 is described as a decentralized, collateral-backed stablecoin protocol. It issues PAR, a euro stablecoin, and paUSD, a US dollar stablecoin.
Can you still use Parallel Protocol V2?
It is listed across Ethereum, Polygon and Fantom. However, its official site now describes Mimo Capital’s real-world asset business rather than Parallel’s stablecoin protocol, so you should verify that the protocol and its apps are still operating before connecting a wallet.
What token does Parallel Protocol use?
The project data lists PRL, while search results also refer to a MIMO governance token. The relationship between those tokens is unclear, so confirm the token address and role before interacting with either.
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How we checked
Sources
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