Dear DAO members,
Following the approval of MIP-34 by the DAO, we take over the service provided from the previous service provider to the Parallel protocol.
This post will be used to provide monthly updates on our progress, in a constant effort to ensure transparency.
The main objective for the coming months remains the same: close the gap accumulated with competitors over the last 2 years, in order to be able to restart the growth of the protocol while giving time to the team to focus on Parallel V3 for 2025.
We are currently working hard to compensate for the delay accumulated by the previous service provider. However, delays in the initial roadmap are still to be expected, and we have updated the roadmap for a version that correlates with our current development capabilities:
Q4 2024 (October - December):
- Clear Pending Proposal Execution: Execute approved proposals which have not yet been implemented
- Parallel Bridging Module: A product for securely bridging PAR, paUSD & MIMO tokens between any chain (at the time of writing, the bridging module is ready, audited, and the proposal will be published on the governance forum in the next few days)
- Parallel Updated dApp MVP: A brand new dApp, supporting upcoming products. (at the time of writing, the dApp is ready and will be deployed in production at the same time as the bridging module)
- Parallel Tokenomics Update: A brand new tokenomics, with the aim of aligning the interests of users and the protocol as closely as possible. We expect a release before the end of 2024, however, additional delays can be expected due to potential technical difficulties and audits delays.
- Parallel dApp Improvements: Implementation of new features on the dApp. (e.g tokenomics)
Q1 2025 (January - March):
- Parallel New Landing Page: A brand new landing page, reflecting Parallel protocol’s new ambitions.
- Parallel Soft Visual Rebranding: A soft visual rebranding for a more modern, financial visual brand.
- Parallel V3 R&D: Research and development on Parallel V3, with the aim of releasing the protocol in 2025.
Q2 2025 (April - June):
- Parallel V3: Development of the V3, with an estimated release date in June-July 2025.