Parallel Finance Polkadot’s Second DeFi Panel Series
The second in the recurring series of Innovation in Polkadot DeFi events occurred on September 15th, 2021, with a panel of the most well-known and up-and-coming names in attendance. The conversations covered many bases including innovation in DeFi, upcoming product releases as well as the panel’s experience as they bring the new age of DeFi to the cryptosphere.
DeFi has undoubtedly taken the attention of the crypto markets with approximately $100B in total USD value locked within this specific crypto industry. This is doubly true for Polkadot’s ecosystem as the benefits and flexibility of interoperability become increasingly clear. The allure of this interoperability has clearly attracted top talent from the industry and, with that, comes both collaboration and competition.
The panel was hosted by Parity Technologies’ Peter Mauric who covered a robust line of discussion topics to panel guests:
-KILT Protocol’s CEO, Ingo Rübe
-Parallel Finance’s CEO, Yubo Ruan
-Manta Network’s Co-Founder, Kenny Li
-Interlay’s CTO, Dominik Harz
-Centrifuge’s CEO, Lucas Vogelsang
Parallel Finance addressed the need for liquidity within the ecosystem. With a growing amount of DOT and KSM locked in parachain leases, the velocity of funds within is slowly being diminished (velocity of funds being an important variable in a token’s price). Liquidity, investment hedging and money markets being the primary primitives required for the ecosystem to flourish; all of which will be solved with Parallel’s initial product release in 4Q’21. Additionally, two unique items covered with a certain level of secretism were Parallel’s Auction Loan protocol and cross-chain portfolio/ wallet. Details teased to come in the near-future; both being direct and powerful tools to those investors seeking to keep their money “working” efficiently.
About Parallel Finance
Parallel Finance is a decentralized money market protocol that offers lending, staking, and borrowing in the Polkadot ecosystem. Similar to the relationship between Polkadot and its “canary network” Kusama, Heiko Finance is the sister network to Parallel, and the parachain that we hope to launch on the Kusama blockchain. We are building for a decentralized future that empowers the community to increase capital efficiency, security, and accessibility through our leverage staking and auction lending platform.
