Logo of Parallel StakingParallel Staking
Total Value Locked$21,459.11

TVL by Chain

Ethereum$21,459.11

Protocol Information

Parallel Staking introduces an innovative approach for users to optimize their ApeCoin staking. By enabling simultaneous staking and borrowing against NFTs like Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club, it addresses the challenge faced by holders lacking sufficient ApeCoin or NFTs for maximum yields. Parallel resolves this by allowing NFT staking and borrowing ApeCoin against them, facilitating auto-compounding of rewards, and offering Peer-to-Peer staking options. Through this, both NFT and ApeCoin holders can secure fixed shares of auto-compounded rewards, enhancing their staking experience and returns

Category:Yield

Audits:

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Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHub

Competitors

Pendle ($1.198b)Spark Savings ($1.132b)Convex Finance ($456.39m)Stake DAO ($103.38m)Lorenzo sUSD1+ ($86.84m)Strata Markets ($75.59m)Yuzu Money ($66.86m)Concentrator ($63.46m)infiniFi ($51.41m)AUTOfinance ($36.16m)

Frequently Asked Questions

What is Parallel Staking?

Parallel Staking introduces an innovative approach for users to optimize their ApeCoin staking. By enabling simultaneous staking and borrowing against NFTs like Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club, it addresses the challenge faced by holders lacking sufficient ApeCoin or NFTs for maximum yields. Parallel resolves this by allowing NFT staking and borrowing ApeCoin against them, facilitating auto-compounding of rewards, and offering Peer-to-Peer staking options. Through this, both NFT and ApeCoin holders can secure fixed shares of auto-compounded rewards, enhancing their staking experience and returns

What is Parallel Staking's TVL?

Parallel Staking currently has $21,459.11 in total value locked. TVL has decreased 10.7% over the past 30 days.

What chains does Parallel Staking operate on?

Parallel Staking operates on Ethereum. Ethereum holds the largest share at 100%.