Logo of Parallel StakingParallel Staking
Total Value Locked$21,996.24

TVL by Chain

Ethereum$21,996.24

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

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Category:Yield

Audits:

Methodology

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

Competitors

Spark Savings ($1.275b)Pendle V2 ($1.233b)Convex Finance ($580.69m)Stake DAO Yield ($141.55m)Avalon Superearn ($114.56m)Concentrator ($84.92m)Lorenzo sUSD1+ ($80.26m)Yuzu Money ($73.22m)Wise Token ($71.72m)Sierra Protocol ($47.82m)

Frequently Asked Questions

What is Parallel Staking's TVL?

Parallel Staking currently has $21,996.24 in total value locked. TVL has increased 10.6% over the past 30 days.

What chains does Parallel Staking operate on?

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

How does Parallel Staking's TVL compare to similar protocols?

Among Yield protocols tracked by DefiLlama, Parallel Staking ranks #237 by TVL. The category holds $4.57b across 585 protocols, and Parallel Staking accounts for <0.1% of that total. Other leading protocols include Spark Savings, Pendle V2, Convex Finance, Stake DAO Yield, Avalon Superearn, Concentrator, Lorenzo sUSD1+, Yuzu Money, Wise Token, and Sierra Protocol.