Total Value Locked$486,064
TVL by Chain
Ethereum$445,434
Polygon$40,523
Fantom$106.76
Key Metrics
Fees 30d$42,537
Fees 30d by chain
Ethereum$42,410
Polygon$134
Fees 7d$9,941
Ethereum$9,912
Polygon$31.23
Fees 24h$1,420
Ethereum$1,416
Polygon$4.46
Cumulative Fees$747,522
Ethereum$721,024
Polygon$26,528
Revenue 30d$33,916
Revenue 30d by chain
Ethereum$33,796
Polygon$107.20
Revenue 7d$7,924
Ethereum$7,896
Polygon$24.97
Revenue 24h$1,132
Ethereum$1,128
Polygon$3.57
Cumulative Revenue$597,631
Ethereum$576,394
Polygon$21,225
Holders Revenue 30d$6,185
Holders Revenue 30d by chain
Ethereum$6,170
Polygon$19.15
Holders Revenue 7d$1,486
Ethereum$1,482
Polygon$4.70
Holders Revenue 24h$212
Ethereum$212
Polygon$0.67
Cumulative Holders Revenue$112,196
Ethereum$108,247
Polygon$3,963
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 Oct 27, 2026.
All-time high TVL: $59.96m on May 12, 2021. All-time low TVL: $1,451 on Oct 3, 2024.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $601,714 |
| Sep 29, 2026 | $602,410 |
| Sep 30, 2026 | $600,034 |
| Oct 1, 2026 | $601,044 |
| Oct 2, 2026 | $590,609 |
| Oct 3, 2026 | $578,931 |
| Oct 4, 2026 | $581,072 |
| Oct 5, 2026 | $589,830 |
| Oct 6, 2026 | $587,268 |
| Oct 7, 2026 | $551,746 |
| 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 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $16.31m |
| 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 27, 2026 (latest) | $483,403 |
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 Oct 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 (to date) | $38,130 | $30,423 | $5,523 |
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 Oct 27, 2026, Parallel Protocol V2 has $486,064 in total value locked. TVL has decreased 19.7% 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 91.6%.
How much has Parallel Protocol V2 generated in fees and revenue?
Over the past 30 days, Parallel Protocol V2 generated $42,537 in fees. Of that, $33,916 was protocol revenue. Based on the trailing year, the annualized rate is $710,299 in fees and $567,828 in revenue.
How does Parallel Protocol V2's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, Parallel Protocol V2 ranks #48 by TVL. The category holds $7.329b across 200 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.