Parallel Stakin...

Total Value Locked$2,876,454

Chain Breakdown
Ethereum	$2.88m

USD ETH

Information

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

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Competitors

Pendle ($3.58b)Convex Finance ($921.58m)Aura ($369.33m)Coinwind ($279.8m)Equilibria ($193.34m)Ceres Demeter ($931.21m)Lombard Vault ($141.74m)Tranchess Yield ($116.56m)Ring Few ($112.09m)Toros ($107.08m)