Total Value Locked$898,754
TVL by Chain
Hyperliquid L1$370,626
Ethereum$254,566
Base$162,561
Avalanche$111,001
Sonic$0
Key Metrics
Fees 30d$3,393
Fees 30d by chain
Hyperliquid L1$1,729
Ethereum$1,045
Base$626.46
Avalanche$431.25
Fees 7d$797.50
Hyperliquid L1$387.71
Ethereum$341.31
Base$104.58
Avalanche$86.78
Fees 24h$102
Hyperliquid L1$59.18
Ethereum$45.56
Avalanche$9.31
Base$0
Cumulative Fees$157,853
Avalanche$113,574
Hyperliquid L1$35,147
Ethereum$19,708
Base$12,222
Revenue 30d$339.94
Revenue 30d by chain
Hyperliquid L1$173.21
Ethereum$104.55
Base$62.62
Avalanche$43.22
Revenue 7d$80.17
Hyperliquid L1$39.26
Ethereum$33.99
Base$10.49
Avalanche$8.68
Revenue 24h$10.30
Hyperliquid L1$5.96
Ethereum$4.56
Avalanche$0.93
Base$0
Cumulative Revenue$14,547
Avalanche$10,307
Hyperliquid L1$3,290
Ethereum$1,927
Base$1,159
Holders Revenue 30d$0
Holders Revenue 30d by chain
Avalanche$0
Base$0
Ethereum$0
Hyperliquid L1$0
Holders Revenue 7d$0
Avalanche$0
Base$0
Ethereum$0
Hyperliquid L1$0
Holders Revenue 24h$0
Avalanche$0
Base$0
Ethereum$0
Hyperliquid L1$0
Cumulative Holders Revenue$26.35
Hyperliquid L1$10.58
Avalanche$10.46
Base$5.06
Ethereum$2.63
Protocol Information
Parallel is an over-collateralized, decentralized, modular & capital-efficient stablecoins protocol deployed on several chains. Each stablecoin can be minted against an approved basket of yield generating correlated assets at the oracle price and redeemed for it without cooldown
Audits:
Methodology
TVL: TVL is retrieved on-chain by getting the total assets managed by the Parallelizer contractsView code on GitHubFees: Daily change in protocol net surplus (total collateral value minus USDp outstanding), in two lines: the mint, burn and redeem fees paid that day, computed from the Parallelizer's Swap and Redeemed events at the rates the contract applies (read on-chain), and the yield from the yield-bearing collateral, which is the rest of the surplus change.View code on GitHubRevenue: DAO Treasury share of net surplus accrual, on both lines: 9% before June 1, 2026, and 10% thereafter (the 1% previously paid to Angle Labs is redistributed to the DAO after the BUSL 1.1 license expires).View code on GitHubHolders Revenue: None: the surplus share kept by the protocol goes to the DAO Treasury. The Treasury's PRL buybacks are not counted here. Those funded by the PRL holders' share of Parallel V2 fees under PGP-42 are counted at that fee source, in Parallel V2's holders revenue; the others are paid from the Treasury's holdings (the PGP-40 monthly allocation, the PGP-45 OTC buyback).View code on GitHubYields
Pools Tracked3
Average Supply APY6.75%
Competitors
Parallel Protocol V3 history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jul 29, 2025 to Oct 26, 2026.
All-time high TVL: $4.04m on Apr 17, 2026. All-time low TVL: $121 on Jul 29, 2025.
Daily TVL, Sep 27, 2026 to Oct 26, 2026
| Date | TVL |
|---|---|
| Sep 27, 2026 | $912,283 |
| Sep 28, 2026 | $912,588 |
| Sep 29, 2026 | $864,992 |
| Sep 30, 2026 | $866,009 |
| Oct 1, 2026 | $868,891 |
| Oct 2, 2026 | $865,809 |
| Oct 3, 2026 | $872,471 |
| Oct 4, 2026 | $872,822 |
| Oct 5, 2026 | $871,012 |
| Oct 6, 2026 | $826,963 |
| Oct 7, 2026 | $826,720 |
| Oct 8, 2026 | $832,475 |
| Oct 9, 2026 | $830,235 |
| Oct 10, 2026 | $828,639 |
| Oct 11, 2026 | $828,704 |
| Oct 12, 2026 | $829,528 |
| Oct 13, 2026 | $828,937 |
| Oct 14, 2026 | $829,978 |
| Oct 15, 2026 | $828,232 |
| Oct 16, 2026 | $828,210 |
| Oct 17, 2026 | $828,517 |
| Oct 18, 2026 | $829,495 |
| Oct 19, 2026 | $830,987 |
| Oct 20, 2026 | $880,769 |
| Oct 21, 2026 | $878,650 |
| Oct 22, 2026 | $878,323 |
| Oct 23, 2026 | $908,564 |
| Oct 24, 2026 | $908,823 |
| Oct 25, 2026 | $908,853 |
| Oct 26, 2026 | $898,619 |
TVL at each month end, Jul 2025 to Oct 2026
| Date | TVL |
|---|---|
| Jul 31, 2025 | $121 |
| Aug 31, 2025 | $370,113 |
| Sep 30, 2025 | $802,886 |
| Oct 31, 2025 | $1.38m |
| Nov 30, 2025 | $1.79m |
| Dec 31, 2025 | $3.15m |
| Jan 31, 2026 | $2.2m |
| Feb 28, 2026 | $3.68m |
| Mar 31, 2026 | $3.86m |
| Apr 30, 2026 | $3.86m |
| May 31, 2026 | $2.98m |
| Jun 30, 2026 | $2.13m |
| Jul 31, 2026 | $2.06m |
| Aug 31, 2026 | $2.14m |
| Sep 30, 2026 | $866,009 |
| Oct 26, 2026 (latest) | $898,619 |
Fees, revenue and holders revenue by UTC calendar month, Jul 2025 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Jul 2025 | $0.77 | $0.06 | $0 |
| Aug 2025 | $74.99 | $6.74 | $0 |
| Sep 2025 | $1,329 | $120.63 | $1.67 |
| Oct 2025 | $1,854 | $166.99 | $1.23 |
| Nov 2025 | $958.78 | $89.62 | $3.43 |
| Dec 2025 | $7,019 | $637.17 | $4.48 |
| Jan 2026 | $9,104 | $816.62 | $3.82 |
| Feb 2026 | $79,438 | $7,147 | $0 |
| Mar 2026 | $9,086 | $817.63 | $0.73 |
| Apr 2026 | $9,459 | $853.72 | $2.35 |
| May 2026 | $6,985 | $635.56 | $8.64 |
| Jun 2026 | $7,254 | $724.34 | $0 |
| Jul 2026 | $7,263 | $726.69 | $0 |
| Aug 2026 | $8,629 | $865.58 | $0 |
| Sep 2026 | $6,562 | $655.24 | $0 |
| Oct 2026 (to date) | $2,837 | $284.37 | $0 |
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-v3
Frequently asked questions
What is Parallel Protocol V3's TVL?
As of Oct 26, 2026, Parallel Protocol V3 has $898,754 in total value locked. TVL has decreased 1.5% over the past 30 days.
What chains does Parallel Protocol V3 operate on?
Parallel Protocol V3 operates on 5 chains: Hyperliquid L1, Ethereum, Base, Avalanche, and Sonic. Hyperliquid L1 holds the largest share at 41.2%.
How much has Parallel Protocol V3 generated in fees and revenue?
Over the past 30 days, Parallel Protocol V3 generated $3,393 in fees. Of that, $339.94 was protocol revenue. Based on the trailing year, the annualized rate is $155,889 in fees and $14,368 in revenue.
How does Parallel Protocol V3's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, Parallel Protocol V3 ranks #41 by TVL. The category holds $7.472b across 200 protocols, and Parallel Protocol V3 accounts for <0.1% of that total. Similar protocols include Reservoir Protocol, QiDao, Button Wrappers, BIMA CDP, Abracadabra Spell, Angle, xDollar, Monroe Protocol, Deaderal Reserve Protocol, and Avalon USDa.
How many yield pools does Parallel Protocol V3 have?
DefiLlama tracks 3 Parallel Protocol V3 yield pools with an average APY of 6.8%.