Parrot Protocol Q1 2022 Roadmap

Parrot Protocol announced its Roadmap for 2022 Q1. In 2022, they will look for new opportunities to grow and expand.

 The product team will continue to focus on refining the core Parrot protocol and building an ecosystem to strengthen it.

The team is looking forward to executing the following in Q1 2022.

 🔴  Information Flow

From now onwards, there will be bi-weekly reports on protocol metrics and developer updates to keep the community in the loop. There has been a problem in the past with communication, and they hope this new way of presenting updates will keep the community up to date with regard to the protocol’s development.

 🔴 BunnyDucky Aggregator

They will phase out Parrot’s +EARN vaults, which have numerous usability issues. In their place, Parrot will adopt BunnyDucky, a new ecosystem project to streamline rewards distribution and maximize yield.

BunnyDucky offers yield strategies with yield tokens. These yield tokens are profit accruing, which increases their value. Parrot taking these yield tokens as collateral would make the PAI debt self-repaying since the value of the collateral increases faster than the borrow interest rates.

As an ecosystem project, BunnyDucky will have its own token $BUD, and will be operated independently. More information about BunnyDucky will be provided as it gets closer to launch.

🔴 yPRT Incentives

The introduction of BunnyDucky and $BUD will benefit PRT holders. The new product serves as a complementary feature to the existing protocol and segregates risk from the core Parrot lending protocol.

The Parrot treasury will farm BUD tokens on behalf of the community, and distribute rewards to yPRT holders.

🔴 Parrot Academy

They are committed to ensuring high usage and growth by making the Parrot Protocol ecosystem products accessible to a wider audience. The team will form a content strategy to create comprehensive educational resources for the public.

🔴 Parrot Developer Grants

They will incentivize developers to build on top of Parrot Protocol. The more use cases there are for Parrot; the stronger it will be. They loved to onboard community developers to help us improve our tooling and protocol.

🔴 Ecosystem Partnerships

They will be looking to form partnerships with other protocols in the industry to integrate Parrot products. They believe this will increase exposure and drive more adoption and be beneficial in the long run.

🔴 pAsset (PAI, pSOL, prtSOL, pBTC) Adoption

PAI will play an important role in our ecosystem projects. BunnyDucky will create a diversity of new self-repaying lending vaults. Penguin will drive trading pairs based on PAI. They will aim to grow the supply of PAI while monitoring its various metrics such as price stability, trading depth, and borrow interest.

About Parrot

The Parrot Protocol is a DeFi network built on Solana that includes the stablecoin PAI, a non-custodial lending market, and a margin trading vAMM. Parrot is a liquidity network for borrowing and lending.

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