ParaSpace is a universal liquidity protocol for decentralized finance (DeFi), enabling users to leverage their digital assets. The platform facilitates borrowing and lending using both Non-Fungible Tokens (NFTs) and standard ERC-20 tokens as collateral. ParaSpace has integrated into the broader ParaX ecosystem, which is described as a Web3 super app built on account abstraction and zkVM technologies. ParaX offers a suite of services including a wallet, asset bridging, transfers, swaps, and lending, with ParaSpace serving as its core lending component.
Parallel is an L2 network that aims to eliminate gas fees for its users while providing a comprehensive DeFi experience through its super app. It offers features like easy staking, lending, and trading, all integrated into one seamless experience. The platform is backed by a diverse group of investors and partners, emphasizing trust, transparency, and user-centricity. Parallel also focuses on security, with numerous audits ensuring a reliable and secure network.
