what's Parrot Protocol?
Parrot Protocol is a decentralized finance (DeFi) platform on the Solana blockchain, focused on providing non-custodial lending, borrowing, and liquidity services. It enables users to deposit assets to earn yields or borrow against collateral with low fees and fast transaction speeds inherent to Solana. The protocol introduces innovative mechanisms like stablecoin minting and cross-collateralization to enhance capital efficiency and reduce liquidation risks. The PRT token serves as the governance and utility token, allowing holders to participate in protocol decisions, stake for rewards, and access premium features. Parrot Protocol's PartyParrot network extends its ecosystem by integrating liquidity provision across Solana's DeFi landscape, fostering composability with other protocols.
New token standard SPL-722 launches in September 2023, introducing assets with zero downside risk and uncapped upside potential based on purchasing wallet characteristics.
contract
solana
Shifts from a central token model using $PRT to a new app-based token model where each app within the ecosystem will have its own token, with $PRT remaining unreleased.
Added a visualization banner to the PRT Honeypot v2 page showing when a dispute is ongoing.
PRT Honeypot v2 launches as a Stage 2 appchain rollup with expanded bounty program for fraud-proof system testing. PRT v2 upgrades and machine-level improvements are featured in L2Beat's November recap.
New token standard SPL-722 launches in September 2023, introducing assets with zero downside risk and uncapped upside potential based on purchasing wallet characteristics.