Total Value Locked$425,540
TVL by Chain
Ethereum$387,237
Polygon$38,219
Fantom$83.84
Key Metrics
Fees 30d$42,346
Fees 30d by chain
Ethereum$42,217
Polygon$134.85
Fees 7d$9,916
Ethereum$9,881
Polygon$32.26
Fees 24h$1,397
Ethereum$1,392
Polygon$4.58
Cumulative Fees$761,699
Ethereum$735,153
Polygon$26,574
Revenue 30d$33,774
Revenue 30d by chain
Ethereum$33,654
Polygon$107.88
Revenue 7d$7,904
Ethereum$7,876
Polygon$25.81
Revenue 24h$1,108
Ethereum$1,104
Polygon$3.66
Cumulative Revenue$608,931
Ethereum$587,654
Polygon$21,262
Holders Revenue 30d$6,344
Holders Revenue 30d by chain
Ethereum$6,326
Polygon$20.25
Holders Revenue 7d$1,490
Ethereum$1,486
Polygon$4.83
Holders Revenue 24h$209
Ethereum$209
Polygon$0.69
Cumulative Holders Revenue$114,323
Ethereum$110,367
Polygon$3,969
Protocol Information
Parallel is a decentralized protocol that issues stablecoins, PAR (EUR stablecoin) and paUSD (USD stablecoin), on the Ethereum, Polygon and Fantom blockchains. The PAR & paUSD stablecoin are decentralized, non-custodials, and collateral-backed FIAT stablecoins.
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Fees paid by PAR and paUSD borrowers in the Classic Vaults: the borrowing fee (interest), the 0.2% origination fee and the liquidation fee, all added to the vaults' debt. Measured as the change in the income accrued by each VaultsCore (the debt above the PAR or paUSD the core minted, as VaultsCoreState.availableIncome() computes it, plus the interest accrued since each collateral type's last refresh), plus the income released by the FeeDistributor that day.View code on GitHubRevenue: The fees without the Insurance Fund's 20%: the shares the FeeDistributor mints to the DAO Treasury and to the PRL stakers' payee, 80% of the fees. Revenue is protocol revenue plus holders revenue.View code on GitHubHolders Revenue: The 15% of the fees for PRL holders since 1 May 2025, 0 before, measured at the fee source as that share of the day's fees. It is passed on to PRL stakers (sPRL1, sPRL2) through the RewardMerkleDistributor, and read from the FeeDistributor's payees. Under PGP-42, from 25 May to 31 August 2026, the DAO Treasury received that 15% to buy PRL back and burn it: a buyback funded by the fees, counted here at the fee source. September 2026, paid to PRL stakers by hand by the DAO Treasury on 1 October 2026, counts as staking rewards. The buybacks the DAO Treasury pays from its own holdings are not counted.View code on GitHubCompetitors
Parallel Protocol V2 history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Mar 30, 2021 to Nov 6, 2026.
All-time high TVL: $59.96m on May 12, 2021. All-time low TVL: $1,451 on Oct 3, 2024.
Daily TVL, Oct 8, 2026 to Nov 6, 2026
| Date | TVL |
|---|---|
| Oct 8, 2026 | $528,786 |
| Oct 9, 2026 | $511,784 |
| Oct 10, 2026 | $514,461 |
| Oct 11, 2026 | $517,370 |
| Oct 12, 2026 | $525,057 |
| Oct 13, 2026 | $502,091 |
| Oct 14, 2026 | $518,763 |
| Oct 15, 2026 | $503,166 |
| Oct 16, 2026 | $506,624 |
| Oct 17, 2026 | $502,493 |
| Oct 18, 2026 | $500,059 |
| Oct 19, 2026 | $502,465 |
| Oct 20, 2026 | $496,882 |
| Oct 21, 2026 | $507,750 |
| Oct 22, 2026 | $514,089 |
| Oct 23, 2026 | $495,245 |
| Oct 24, 2026 | $492,027 |
| Oct 25, 2026 | $490,351 |
| Oct 26, 2026 | $483,498 |
| Oct 27, 2026 | $483,403 |
| Oct 28, 2026 | $488,698 |
| Oct 29, 2026 | $490,129 |
| Oct 30, 2026 | $463,871 |
| Oct 31, 2026 | $467,551 |
| Nov 1, 2026 | $468,569 |
| Nov 2, 2026 | $471,746 |
| Nov 3, 2026 | $459,187 |
| Nov 4, 2026 | $463,519 |
| Nov 5, 2026 | $460,583 |
| Nov 6, 2026 | $428,185 |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $15.33m |
| Jan 31, 2025 | $14.82m |
| Feb 28, 2025 | $10.86m |
| Mar 31, 2025 | $2.76m |
| Apr 30, 2025 | $2.55m |
| May 31, 2025 | $3.2m |
| Jun 30, 2025 | $3.04m |
| Jul 31, 2025 | $3.15m |
| Aug 31, 2025 | $2.6m |
| Sep 30, 2025 | $2.39m |
| Oct 31, 2025 | $2m |
| Nov 30, 2025 | $1.55m |
| Dec 31, 2025 | $1.44m |
| Jan 31, 2026 | $1.28m |
| Feb 28, 2026 | $803,560 |
| Mar 31, 2026 | $767,704 |
| Apr 30, 2026 | $803,968 |
| May 31, 2026 | $665,571 |
| Jun 30, 2026 | $491,924 |
| Jul 31, 2026 | $540,938 |
| Aug 31, 2026 | $619,149 |
| Sep 30, 2026 | $600,034 |
| Oct 31, 2026 | $467,551 |
| Nov 6, 2026 (latest) | $428,185 |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $28.23m |
| Dec 31, 2022 | $17.33m |
| Dec 31, 2023 | $23.06m |
| Dec 31, 2024 | $15.33m |
| Dec 31, 2025 | $1.44m |
Fees, revenue and holders revenue by UTC calendar month, Oct 2025 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Oct 2025 | $48,881 | $39,154 | $7,437 |
| Nov 2025 | $69,464 | $55,551 | $10,581 |
| Dec 2025 | $74,742 | $59,806 | $11,320 |
| Jan 2026 | $75,961 | $60,765 | $11,385 |
| Feb 2026 | $69,035 | $55,241 | $10,317 |
| Mar 2026 | $72,165 | $57,706 | $10,923 |
| Apr 2026 | $71,291 | $56,951 | $10,588 |
| May 2026 | $49,584 | $39,611 | $7,380 |
| Jun 2026 | $44,015 | $35,247 | $6,605 |
| Jul 2026 | $45,438 | $36,421 | $6,826 |
| Aug 2026 | $46,254 | $36,913 | $6,929 |
| Sep 2026 | $43,982 | $34,974 | $6,594 |
| Oct 2026 | $43,813 | $34,951 | $6,374 |
| Nov 2026 (to date) | $8,471 | $6,748 | $1,273 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/parallel-protocol-v2
Frequently asked questions
What is Parallel Protocol V2's TVL?
As of Nov 6, 2026, Parallel Protocol V2 has $425,540 in total value locked. TVL has decreased 22.9% over the past 30 days.
What chains does Parallel Protocol V2 operate on?
Parallel Protocol V2 operates on 3 chains: Ethereum, Polygon, and Fantom. Ethereum holds the largest share at 91%.
How much has Parallel Protocol V2 generated in fees and revenue?
Over the past 30 days, Parallel Protocol V2 generated $42,346 in fees. Of that, $33,774 was protocol revenue. Based on the trailing year, the annualized rate is $701,408 in fees and $560,649 in revenue.
How does Parallel Protocol V2's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, Parallel Protocol V2 ranks #47 by TVL. The category holds $6.5b across 197 protocols, and Parallel Protocol V2 accounts for <0.1% of that total. Similar protocols include QiDao, DEUS Finance, Abracadabra Spell, mStable CDP, Angle, Iron Finance, xDollar, Davos Protocol, MahaDAO Arth, and Sky Lending.