Important Notice: Closure of Polkadot Parallel Money market on September 22th
Dear Parallel Community,
We are pleased to announce that Parallel’s Polkadot Parallel Money market has been a great success and will officially close on September 22th, 2024.
Currently supported collateral assets include: DOT, sDOT, USDT, PARA, GLMR, ACA, LP-DOT/sDOT, LP-DOT/PARA, LP-DOT/cDOT-6/13, LP-DOT/cDOT-7/14, LP-DOT/cDOT-8/15, LP-PARA/cDOT-6/13, cDOT-6/13, cDOT-7/14, cDOT-8/15, and lcDOT. Collateralizing assets such as DOT, LP-DOT/cDOT-8/15, cDOT-7/14, LP-DOT/cDOT-7/14, cDOT-8/15, LP-DOT/cDOT-6/13, lcDOT, and cDOT-6/13 enables you to borrow DOT without the risk of liquidation.
Upon launch, the Polkadot Parallel Money market quickly secured a leading position with a TVL (Total Value Locked) exceeding $75 million. [See reference](https://x.com/dotinsights_xyz/status/1592489364541427712). As of September 18th, 2024, the Money market still holds a TVL of $3.646 million, including the following assets:
- DOT: $2.01M
- sDOT: $1.14M
- USDT: $144.6K
- PARA: $117.03K
- GLMR: $734.97
- ACA: $2,193.33
- LP-DOT/sDOT: $59,566.26
- LP-DOT/PARA: $1,680.71
- LP-DOT/cDOT-6/13: $957.50
- LP-DOT/cDOT-7/14: $1,301.75
- LP-DOT/cDOT-8/15: $727.36
- LP-PARA/cDOT-6/13: $768.62
- cDOT-6/13: $99,998.35
- cDOT-7/14: $49,029.14
- cDOT-8/15: $20,349.34
If you have any outstanding debts, please repay your loans and withdraw your assets via the Parallel network before September 22th. Any positions with unpaid loans after this date will be liquidated.
How to Repay:
1. Visit the Parallel website: [https://app.parallel.fi/]
2. Click “APPs,” select Polkadot chain, then navigate to the “Money market” page.
3. Connect your wallet and click “repay/withdraw” to complete the process.
As we work to simplify our services and focus on delivering excellence, we will be closing the Money market page. Rest assured, your funds are secure. Please note that any funds not withdrawn will need to be manually redeemed through the official guide, or you can open a support ticket in our Discord channel.
Closure Details:
Relevant Page: https://app-polkadot.parallel.fi/lendAndBorrow
Service Closure Date: September 22th
Our support team is available to assist with any questions or concerns. Please open a Discord support ticket to get in touch.
We appreciate your continued support as we enhance our platform and deliver innovative solutions. Thank you for being a valued member of the Parallel community.
