Parallel officially launches USDp, its new decentralized USD stablecoin built on the Parallel V3 infrastructure, following the DAO’s approval of PIP-51.

USDp is designed to be capital-efficient, scalable, and deeply integrated into a growing multi-chain DeFi ecosystem. It replaces paUSD as the protocol’s native USD stablecoin, introducing a more robust foundation for future development and integrations.

USDp marks a fresh start for the protocol’s USD strategy, avoiding the scaling and peg instability issues that limited the adoption of paUSD.

Built on top of the newly launched Parallel V3, USDp benefits from a modular and upgradable architecture that enables the DAO to fine-tune minting logic, collateral composition, yield distribution, and cross-chain behavior in real-time.

Key improvements include:

• Modular Minting via the Parallelizer: USDp is minted against a diversified and risk-managed basket of assets.

• Capital Efficiency: Backed by yield-generating assets and flexible mint/burn mechanics.

• DAO Control: All parameters, from mint limits to asset whitelisting, are entirely governed by sPRL token holders.

USDp is deployed across 16 blockchains at launch, including Ethereum, Base, Sonic, HyperEVM, Optimism, Arbitrum, Avalanche, Polygon PoS, TAC, Sei, and more.

This broad deployment is made possible by the protocol’s Bridging Module, which uses LayerZero infrastructure and Decentralized Verifier Networks (DVNs) to enable seamless, censorship-resistant bridging of USDp between supported chains.

Every chain deployment is configured with mint/burn limits, security parameters, and fee settings, all of which are controlled by the DAO.

On chains like Ethereum, Base, Sonic, and HyperEVM, USDp can be minted via the Parallelizer Module, using assets like:

• frxUSD / sfrxUSD

• USDe / sUSDe

• USDS / sUSDS

• scUSD vaults, and more.

The minting system includes adaptive fee mechanics and exposure targets to maintain diversified collateral and stability across the reserve basket.

Additional collateral types can be added or updated at any time via governance.

From the outset, USDp is built for adoption.

Thanks to its modular structure and broad chain coverage, it can be integrated into wallets, lending protocols, DEXes, and other DeFi primitives with minimal effort. The Flashloan Module and Bridging Module also support advanced use cases, such as automated arbitrage, reserve balancing, and capital-efficient liquidity provisioning.

A core part of USDp’s design is to be useful as money, as collateral, and as infrastructure.

USDp’s launch sets the foundation for a new era of USD-denominated activity within Parallel. The protocol now benefits from:

• A native yield-bearing version, sUSDp, which captures the yield generated by the protocol

• A scalable multi-chain minting system

• Full DAO control over parameters and growth

As demand for decentralized stablecoins grows across chains, use cases, and geographies, USDp positions Parallel as a protocol-native issuer capable of competing at scale.

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Parallel officially launches USDp, its new decentralized USD stablecoin built on the Parallel V3 infrastructure, following the DAO’s approval of PIP-51.

USDp is designed to be capital-efficient, scalable, and deeply integrated into a growing multi-chain DeFi ecosystem. It replaces paUSD as the protocol’s native USD stablecoin, introducing a more robust foundation for future development and integrations.

USDp marks a fresh start for the protocol’s USD strategy, avoiding the scaling and peg instability issues that limited the adoption of paUSD.

Built on top of the newly launched Parallel V3, USDp benefits from a modular and upgradable architecture that enables the DAO to fine-tune minting logic, collateral composition, yield distribution, and cross-chain behavior in real-time.

Key improvements include:

• Modular Minting via the Parallelizer: USDp is minted against a diversified and risk-managed basket of assets.

• Capital Efficiency: Backed by yield-generating assets and flexible mint/burn mechanics.

• DAO Control: All parameters, from mint limits to asset whitelisting, are entirely governed by sPRL token holders.

USDp is deployed across 16 blockchains at launch, including Ethereum, Base, Sonic, HyperEVM, Optimism, Arbitrum, Avalanche, Polygon PoS, TAC, Sei, and more.

This broad deployment is made possible by the protocol’s Bridging Module, which uses LayerZero infrastructure and Decentralized Verifier Networks (DVNs) to enable seamless, censorship-resistant bridging of USDp between supported chains.

Every chain deployment is configured with mint/burn limits, security parameters, and fee settings, all of which are controlled by the DAO.

On chains like Ethereum, Base, Sonic, and HyperEVM, USDp can be minted via the Parallelizer Module, using assets like:

• frxUSD / sfrxUSD

• USDe / sUSDe

• USDS / sUSDS

• scUSD vaults, and more.

The minting system includes adaptive fee mechanics and exposure targets to maintain diversified collateral and stability across the reserve basket.

Additional collateral types can be added or updated at any time via governance.

From the outset, USDp is built for adoption.

Thanks to its modular structure and broad chain coverage, it can be integrated into wallets, lending protocols, DEXes, and other DeFi primitives with minimal effort. The Flashloan Module and Bridging Module also support advanced use cases, such as automated arbitrage, reserve balancing, and capital-efficient liquidity provisioning.

A core part of USDp’s design is to be useful as money, as collateral, and as infrastructure.

USDp’s launch sets the foundation for a new era of USD-denominated activity within Parallel. The protocol now benefits from:

• A native yield-bearing version, sUSDp, which captures the yield generated by the protocol

• A scalable multi-chain minting system

• Full DAO control over parameters and growth

As demand for decentralized stablecoins grows across chains, use cases, and geographies, USDp positions Parallel as a protocol-native issuer capable of competing at scale.

DApp I Discord I X I Docs