The Parallel Protocol is a decentralized stablecoin issuance protocol on the Ethereum blockchain. Parallel stablecoins are decentralized, non-custodial, collateral-backed, and fully redeemable synthetic assets pegged to a fiat currency. Parallel stablecoins are kept stable by collateral locked in smart contract Vaults. At launch, the Parallel Protocol offers a single stablecoin called PAR which is pegged to the Euro. Over time, the Parallel Protocol will progressively decentralize itself, handing over control to a diverse community of people holding the MIMO governance token. [Telegram](https://t.me/mimodefi) | [Medium](https://blog.mimo.capital/)
