ParaSpace and Parallel Finance to Merge and Rebranded to ParaX

ParaSpace and Parallel Finance to Merge and Rebranded to ParaX
Source: Paraspace

NFT lending protocol ParaSpace and Polkadot ecosystem DeFi protocol Parallel Finance have announced a merger and rebranding as ParaX.

ParaX will become a Web3 super application supported by account abstraction and zkVM, aiming to provide users with a ParaX ecosystem that covers account abstraction, meta user interface, zkVM, and more. This will enable users to more conveniently manage their multi-chain assets and identities.

ParaX will offer two interfaces, with the simplified version including essential functions required by users, streamlining processes and reducing entry barriers. The professional version will allow users to choose specific dApps based on their preferences and needs.

Parallel Finance is a decentralized money market protocol that offers lending, collateralization, and other DeFi services within the Polkadot ecosystem. ParaSpace NFT is a decentralized and permissionless protocol focused on the financialization of NFTs.

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Source

NFT

Lending

DeFi

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