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Following the launch of Parallel V3 and the introduction of USDp, the new modular USD stablecoin of the protocol, users can now mint and burn USDp natively through the Parallelizer Module, the system’s decentralized minting engine.
This guide walks through how the minting and burning mechanism works, what assets are accepted, and how the architecture ensures stability, transparency, and control by the DAO.
The Parallelizer Module is a Price Stability Module (PSM) that enables users to mint and burn USDp against a basket of accepted stablecoins. Instead of relying on CDPs or volatile collateral, it supports direct stablecoin-to-stablecoin swaps at oracle price, backed by on-chain data feeds and governed risk parameters.
In simple terms:
Mint: swap an accepted collateral → receive USDp 1:1 (minus mint fee, if any).
Burn: return USDp → redeem collateral from the reserve (minus burn fee, if any).
All minting and burning transactions are processed through audited contracts, with fees and limits fully controlled by the DAO.
The Parallelizer Module currently supports a selection of yield-generating and non-yield stablecoins across several chains. For each collateral, the DAO configures:
Following the launch of Parallel V3 and the introduction of USDp, the new modular USD stablecoin of the protocol, users can now mint and burn USDp natively through the Parallelizer Module, the system’s decentralized minting engine.
This guide walks through how the minting and burning mechanism works, what assets are accepted, and how the architecture ensures stability, transparency, and control by the DAO.
The Parallelizer Module is a Price Stability Module (PSM) that enables users to mint and burn USDp against a basket of accepted stablecoins. Instead of relying on CDPs or volatile collateral, it supports direct stablecoin-to-stablecoin swaps at oracle price, backed by on-chain data feeds and governed risk parameters.
In simple terms:
Mint: swap an accepted collateral → receive USDp 1:1 (minus mint fee, if any).
Burn: return USDp → redeem collateral from the reserve (minus burn fee, if any).
All minting and burning transactions are processed through audited contracts, with fees and limits fully controlled by the DAO.
The Parallelizer Module currently supports a selection of yield-generating and non-yield stablecoins across several chains. For each collateral, the DAO configures:
Oracle source
Exposure limits (min/max)
Stale period (data freshness)
Mint / Burn fees
Whitelisting requirement (if any)
On Ethereum, for example:
Collateral | Oracle | Mint Fee | Burn Fee | Max Exposure |
frxUSD | Chainlink | 0.00% | 0.00% | 100% |
sfrxUSD | Chainlink | 0.00% | 0.05% | 95% |
USDe | Chainlink | 0.00% | 0.00% | 100% |
sUSDe | Chainlink | 0.00% | 0.05% | 95% |
These parameters vary by chain and asset. The DAO can update them at any time through governance to manage risk or adapt to market conditions.
To mint USDp:
Go to app.parallel.best/mint
Connect your wallet
Select a chain and asset under “You Sell”
Enter the amount
Confirm and receive newly minted USDp in your wallet
Example:
Deposit 1,000 USDe → Receive 1,000 USDp
Users can enable the “Mint Preferred” option to route transactions directly through Parallel’s minting contracts, ensuring mint/burn is executed natively without relying on aggregators.
To burn USDp:
Go to app.parallel.best/mint
Connect your wallet
Input the amount of USDp you wish to sell.
Select a chain and asset under “You Buy”.
Receive the corresponding amount of the chosen asset.
Burns using the Parallelizer Module are available as long as the protocol has sufficient reserves of the selected collateral and exposure parameters are respected.
Example:
Burn 1,000 USDp → Receive 1,000 frxUSD
If a collateral reaches its maximum exposure limit, minting will be paused for that asset until capacity frees up. The same applies to minimum exposure in case of redemptions.
→ In addition to native minting and burning through the Parallelizer Module, users can also swap USDp via aggregators (example: Odos) directly on the Parallel front-end.
The Parallelizer Module is currently deployed on:
Ethereum
Base
Sonic
HyperEVM
The accepted collaterals vary per chain but follow the same architecture and governance-controlled parameters.
You can mint USDp directly through the dApp here:
app.parallel.best/mint
As the protocol expands, this mechanism ensures stability, capital efficiency, and composability for USDp, while keeping minting/redemption flows transparent and automated.
Oracle source
Exposure limits (min/max)
Stale period (data freshness)
Mint / Burn fees
Whitelisting requirement (if any)
On Ethereum, for example:
Collateral | Oracle | Mint Fee | Burn Fee | Max Exposure |
frxUSD | Chainlink | 0.00% | 0.00% | 100% |
sfrxUSD | Chainlink | 0.00% | 0.05% | 95% |
USDe | Chainlink | 0.00% | 0.00% | 100% |
sUSDe | Chainlink | 0.00% | 0.05% | 95% |
These parameters vary by chain and asset. The DAO can update them at any time through governance to manage risk or adapt to market conditions.
To mint USDp:
Go to app.parallel.best/mint
Connect your wallet
Select a chain and asset under “You Sell”
Enter the amount
Confirm and receive newly minted USDp in your wallet
Example:
Deposit 1,000 USDe → Receive 1,000 USDp
Users can enable the “Mint Preferred” option to route transactions directly through Parallel’s minting contracts, ensuring mint/burn is executed natively without relying on aggregators.
To burn USDp:
Go to app.parallel.best/mint
Connect your wallet
Input the amount of USDp you wish to sell.
Select a chain and asset under “You Buy”.
Receive the corresponding amount of the chosen asset.
Burns using the Parallelizer Module are available as long as the protocol has sufficient reserves of the selected collateral and exposure parameters are respected.
Example:
Burn 1,000 USDp → Receive 1,000 frxUSD
If a collateral reaches its maximum exposure limit, minting will be paused for that asset until capacity frees up. The same applies to minimum exposure in case of redemptions.
→ In addition to native minting and burning through the Parallelizer Module, users can also swap USDp via aggregators (example: Odos) directly on the Parallel front-end.
The Parallelizer Module is currently deployed on:
Ethereum
Base
Sonic
HyperEVM
The accepted collaterals vary per chain but follow the same architecture and governance-controlled parameters.
You can mint USDp directly through the dApp here:
app.parallel.best/mint
As the protocol expands, this mechanism ensures stability, capital efficiency, and composability for USDp, while keeping minting/redemption flows transparent and automated.
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