Parallel Heiko now lets you Compound your Yield with the Money Market and Yield Farm in a Single Interface

Parallel Heiko is a user-focused DeFi protocol that has evolved to become a hub for DeFi use cases and solutions. As a platform that encompasses most DeFi solutions into a single super dApp suite, we find it appropriate to allow our users to carry out DeFi activities in fewer steps so that they can have better capital efficiency and easily compound their yield.

As a result of this, we have combined our Money Market and Yield Farming solutions into a single user experience-focused pallet that allows users to efficiently and effectively carry out lending and borrowing activities as well as yield farming operations to multiply their rewards. DeFi money markets are one of the most fundamental mechanisms of a healthy economy and have redefined conventional lending and borrowing. Since they allow users to put their idle assets to work in a non-custodian fashion, being able to farm yield alongside will be a game-changer as it will help users better interact with their assets and utilize them for additional return.

At the moment, the merger of our yield farming and the supply and borrow functions of our Money Market is available for KSM, sKSM, and HKO. However, borrowing functionality has not been enabled for HKO yet — we will announce it in our community channels as soon as it is available.

Below is the summary of the new development that is geared towards opening up colossal earning opportunities for you:

• The Money Market’s supply and borrow functionality for those 3 assets have farm yield, with the exception of HKO, which is not borrowable at the moment.
• The “Claim” button is on the top header, and it will automatically add the HKO rewards that users can claim when they want
• The APY and rewards systems are being adjusted as we further develop our products.
• Farming rewards that are automatically added to the Money Market will be displayed below the Supply and Borrow APY.

About Parallel Finance

Parallel Finance is a user-focused DeFi protocol that has evolved to become a hub for DeFi use cases and solutions. It features a highly secure suite of DeFi super dapps that include Staking and v2 Decentralized Crowdloan. The platform is committed to building a decentralized future that empowers the community to increase DeFi capital efficiency, security, and accessibility.

We are also one of the largest parachains in the Polkadot space with over $700M+ TVL and 200K+ active users and we are backed by some of the most accomplished investors in venture capital and veterans of the financial services space including Sequoia, Founders Fund, Coinbase, Polychain, etc.

Parallel Finance has a rapidly growing close-knit team of 90+ professionals. Their backgrounds combine technology expertise with decades of experience in product management, finance, and marketing, coming from top organizations including The World Bank Group, Dash, Crypto.com, ChainLink, Meta, Polygon, Ledger, JP Morgan, Standard Chartered, Amazon, BlockFi, etc., and we’re still hiring.