parax

ChainCatcher news, according to official sources, the Web3 super application ParaX has now been rebranded as Parallel Finance. It has currently raised over $30 million from institutions such as Sequoia Capital, Polychain, Blockchain Capital, Coinbase Ventures, and Founders Fund.

ChainCatcher news, the Web3 super application ParaX has announced support for the NFT project Weirdo Ghost Gang to conduct lending activities, providing instant liquidity for this NFT series.

ChainCatcher news, ParaX has now integrated with the OKX Web3 wallet. Users can perform various operations such as collateral lending, staking, purchasing NFTs, and asset management through the OKX Web3 wallet plugin on ParaX. ParaX is a merger of the NFT protocol ParaSpace and the DeFi protocol Parallel Finance, utilizing an account abstraction (AA) model based on ERC-4337, zkVM, and a large language model for cross-domain intents, along with a customizable UI interface, allowing users to easily participate in the Web3 ecosystem, aiming to become a Web3 super application. The current total value locked (TVL) is nearly $200 million, with over 300,000 users.It is reported that the OKX Web3 wallet is an industry-leading one-stop Web3 entry point, now supporting over 70 public chains, covering five major sectors: wallets, DEX, DeFi, NFT markets, and DApp exploration. It also supports the Ordinals market, MPC and AA smart contract wallets, gas exchange, hardware wallet connections, and provides users with an extremely convenient and secure experience.

ChainCatcher news, ParaX announced a strategic investment from the digital asset management company Metalpha. In April this year, Bloomberg reported that Hong Kong-based digital asset management service provider Metalpha plans to raise a $100 million fund to provide a regulated participation channel for Chinese crypto investors.According to ChainCatcher previous report, in August this year, the NFT lending protocol ParaSpace is merging with the Polkadot ecosystem DeFi protocol Parallel Finance and will rebrand as ParaX, becoming a Web3 super application supported by account abstraction and zkVM.

ChainCatcher news, according to official sources, the NFT lending protocol ParaSpace has released the ParaX white paper. The ParaX ecosystem is based on the existing ParaSpace and Parallel products, covering account abstraction, meta user interfaces, zkVM, AI-Intent Interpreter, and more.ParaX aims to simplify user interactions with Web3 applications by introducing an automated smart execution layer.

ChaniCatcher news, the NFT lending protocol ParaSpace announced on social media that the first batch of 200 ParaX medals will be airdropped to the first 200 accounts that migrated to ParaX at 10:00 AM Beijing time on September 9.The total number of NFTs for users who migrated to ParaX is 2000, including the first batch of 200 NFTs. 1000 NFTs will be airdropped to the top 1000 migrating accounts ranked by TVL and BNPL; 800 NFTs will be airdropped to those who did not make it to the top 1000 but still completed the migration (first come, first served).

ChainCatcher news, ParaSpace tweeted that the ParaX migration will begin today at 18:00. ParaSpace stated that the rates may fluctuate at the start of the migration, and it is recommended that users repay all high-interest loans to avoid being affected. Users are also advised to migrate when Gas is below 20 Gwei.In previous news, ParaX enhances the Web3 experience through account abstraction, meta-user interfaces, and batch transactions. ParaSpace will migrate to ParaX and will assist top TVL accounts in migrating to the new ParaX platform starting today. Additionally, the official ParaX Medal NFT will be launched, and these NFTs will be airdropped to eligible migrating users during the first week of the migration process.

ChainCatcher news, the NFT lending protocol ParaSpace tweeted that ParaX has enhanced the Web3 experience through account abstraction, meta-user interfaces, and batch transactions. ParaSpace will migrate to ParaX and will assist top TVL accounts in migrating to the new ParaX platform.In addition, the official will launch the ParaX Medal NFT, which will be airdropped to eligible migrating users during the first week of the migration process. The specific distribution is as follows: 200 NFTs will be airdropped to top accounts that help stabilize the exchange rate; 1000 NFTs will be airdropped to the top 1000 migrating accounts ranked by TVL and BNPL; 800 NFTs will be airdropped to those who did not make it into the top 1000 but still completed the migration (first come, first served).ChainCatcher previously reported that the NFT lending protocol ParaSpace is merging with the Polkadot ecosystem DeFi protocol Parallel Finance and will rebrand as ParaX, becoming a Web3 super application powered by account abstraction and zkVM, aiming to provide users with the ParaX ecosystem covering account abstraction, meta-user interfaces, zkVM, etc., allowing users to manage their multi-chain assets and identities more conveniently.

ChainCatcher news, the NFT lending protocol ParaSpace is merging with the Polkadot ecosystem DeFi protocol Parallel Finance and will rebrand as ParaX, becoming a Web3 super application powered by account abstraction and zkVM. The goal is to provide users with the ParaX ecosystem covering account abstraction, meta user interfaces, zkVM, etc., allowing users to manage their multi-chain assets and identities more conveniently.