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Parrot Protocol

PRT

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About Parrot Protocol

Parrot Protocol is a DeFi network developed on Solana, including the stablecoin PAI, a non-custodial lending market, and a margin trading vAMM (Virtual Automated Market Makers). Virtual Automated market makers (vAMM) solve the limitations of AMM by radically expanding the application space of AMMs and enabling perpetual contracts.

The Parrot protocol aims to make value locked in DeFi systems accessible. As per its research, billions of dollars of value are currently locked in hundreds of DeFi systems, which are converted into yield generating tokens, like Uniswap LP tokens or the AAVE yield-bearing tokens. As LP tokens, their value is locked in DeFi, which is inaccessible because their unit of account is unsuitable for human consumption.

As a solution to this problem, Parrot Protocol was created to make value locked in LP tokens accessible by creating a liquidity and lending network collateralized by these LP tokens. The planning for the solution includes:

Parrot claims to support USDC and USDT deposits, and users can generate 100 PAI for every 105 USDC (or USDT) collateral. The Parrot protocol collects fees from the services and uses them to buy PRT on the open market and cycle back them as protocol incentives. PRT is the governance token of Party Parrot, which is majorly used to incentivize the users and attract them to the platform. PRT token is also used to incentivize an insurance pool, which may backstop any shortfall in the lending market. The fees are received through three main sources:

The total supply of PRT tokens is 1,000,000,000.

Market

Singapore Market Stats

Market cap

-

Volume (24h)

S$26,365.72

Circulating supply

-

All time high

0.019961094433950156

Singapore Market performance

Price change (1h)

+0.05%

Price change (1d)

-1.73%

Price change (1w)

-8.55%

Price change (2w)

-17.08%

Price change (1m)

-31.99%

Price change (1y)

-92.64%

Singapore News about Parrot Protocol

The Block • May 04, 24

The Funding: Ethereum restaking, DePINs, Bitcoin ecosystem and RWA tokenization lead crypto VC trends

Crypto VC funding has surpassed $4B so far this year, driven by Ethereum restaking, DePINs, Bitcoin ecosystem and RWA tokenization verticals.

Read more

News Article Image

The Block • May 04, 24

Sui creator says crypto’s “ChatGPT moment” coming as protocol celebrates mainnet’s first year

Mysten Labs CEO Evan Cheng waxes optimistically about the future of his blockchain and traditional tech's interest in web3.

Read more

News Article Image

Blockworks • May 04, 24

Funding Roundup: a16z made a $90M bid on Optimism

Ex Revolut executive received $6.5 million from investors to create hybrid exchange x10

Read more

News Article Image

BeInCrypto • May 04, 24

Polygon (MATIC) Price Stuck in Consolidation, But Bull Rally Could Be Near

MATIC price has a shot at breaking out of the persisting consolidation and post a rally provided the investors continue to refrain from selling.The post Polygon (MATIC) Price Stuck in Consolidation, But Bull Rally Could Be Near appeared first on BeInCrypto.

Read more

News Article Image

Unchained • May 04, 24

Hedge Fund MEV Capital Trying to Bring DeFi to the Masses

DeFi-focused hedge fund firm MEV Capital is extending from its institutional roots to make a first-time play for retail investors.  Gytis Trilikauskis, MEV’s chief operating officer and general partner, said the asset manager has incubated Amphor, a new decentralized finance (DeFi) protocol that ...

Read more

News Article Image

BeInCrypto • May 04, 24

Charles Hoskinson Responds to Michael Saylor’s Cardano (ADA) Diss

At the Bitcoin For Corporations 2024 conference, Michael Saylor argued that only Bitcoin would remain an institutional asset, prompting a strong defense of Cardano by its founder, Charles Hoskinson.The post Charles Hoskinson Responds to Michael Saylor’s Cardano (ADA) Diss appeared first on BeInCr...

Read more

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Parrot Protocol is on the decline this week.

The price of Parrot Protocol has increased by 0.05% in the last hour and decreased by 1.73% in the past 24 hours. Parrot Protocol’s price has also fallen by 8.55% in the past week. The current price is S$0.000335 per PRT with a 24-hour trading volume of S$26.37K. Currently, Parrot Protocol is valued at 98.32% below its all time high of S$0.0200. This all-time high was the highest price paid for Parrot Protocol since its launch.

The current circulating supply of Parrot Protocol is 0 PRT which means that Parrot Protocol has as total market cap of 0.

FAQ

What is the current price of Parrot Protocol?

We update our Parrot Protocol to SGD currency in real-time. Get the live price of Parrot Protocol on Coinbase.

What is the market cap of Parrot Protocol?

The current market cap of Parrot Protocol is S$0.00. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Parrot Protocol?

The all-time high of Parrot Protocol is S$0.0200. This all-time high is highest price paid for Parrot Protocol since it was launched.

What is the 24 hour trading volume of Parrot Protocol?

Over the last 24 hours, the trading volume of Parrot Protocol is S$26.37K.

What other assets are similar to Parrot Protocol?

Assets that have a similar market cap to Parrot Protocol include Creta World, Nahmii, youves uUSD, and many others. To see a full list, see our comparable market cap assets.

How many Parrot Protocol are there?

The current circulating supply of Parrot Protocol is 0.

Can I buy Parrot Protocol on Coinbase?

No, Parrot Protocol is not currently available on Coinbase, but you can sign up to get the latest news on Parrot Protocol and be notified when it gets added to our exchange.