Parabol Labs announces the launch of Parabol Protocol, a novel fiat-backed stablecoin protocol, aiming to contribute significant advancements to how people use stablecoins within  DeFi.

Backed by OrangeDAO and other esteemed superangels, Parabol Protocol features a unique flywheel that encompasses a regulatory compliant stablecoin, a native yield mechanism and embedded rewards that encourage depth and liquidity.

At the core of Parabol's offerings is paraUSD, which will be issued out of the European Union as an asset reference token backed by US Treasury Bills. This regulatory compliance ensures transparency and trust.

The Reserve Stability Pool (RSP) is a mechanism specifically designed to help Parabol manage its Reserve Assets in a maturity matched manner. paraUSD stablecoin holders can make permissionless bilateral loans to the RSP at a maturity of their choosing which will underlie the native yield of the protocol. These bilateral loans offer yields at least equal to the risk-free Treasury Bill rate.

Parabol Rewards Program provides additional rewards beyond standard fees to ensure a robust and liquid market for Parabol tokens. Top tier liquidity providers to the Protocol stand to make returns above 20% on an unlevered basis with the potential to earn multiples of that level. You can learn more about Parabol Rewards Program here

As a first step in our official launch, Parabol is introducing paraSBT, a soulbound ERC-20 token. Holders of paraSBT will gain early access to paraUSDs through a private permissioned pool before they are available for public minting and get a chance to become the first liquidity providers to the Protocol. Soulbound Token holders will gain priority as liquidity providers, enabling them to capitalize on higher returns by being the first to participate in liquidity provision activities. The Genesis release of paraSBT is set at 10,000,000 tokens, with each paraSBT + one USDC being exchangeable for one paraUSD.

For more information about Parabol and the soulbound token, please visit https://www.parabol.fi

About Parabol

Parabol Labs Ltd develops Parabol Protocol. Parabol Labs is backed by OrangeDAO and visionary angels who believe in creating a regulatory compliant yet resilient and universal stablecoin that will become the new standard in digital money.