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Parrot Protocol


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About Parrot Protocol

What IsParrot Protocol (PRT)?

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:

  • Firstly, creating the PAI stablecoin, backed by LP tokens as collaterals. This stablecoin acts as a common unit of account, making it easy for holders of different types of LP tokens to transact with each other.

  • Secondly, creating the Parrot Lending market, taking LP tokens as collateral. The Parrot lending market allows LP holders to access their locked value by borrowing against lender liquidity.

  • Thirdly, creating a margin trading product (virtual AMM) using PAI as the common unit of account. This trading product allows the Parrot community to collect fees and feed the family.

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:

  • Stability fees collected via stablecoin PAI

  • Interests borrowed on the PAI supply

  • Trading fees for the vAMM

  • Borrow fees collected on the lending market

  • Liquidation penalties 

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


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Coinbase Bytes

Coinbase Bytes

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Parrot Protocol is on the decline this week.

The price of Parrot Protocol has fallen by 11.32% in the past 7 days. The price increased by 1.29% in the last 24 hours. In just the past hour, the price shrunk by 1.01%. The current price is $0.000613 per PRT. Parrot Protocol is 97.96% below the all time high of $0.0300.

The current circulating supply is 0 PRT.


What is the current price of Parrot Protocol?

We update our Parrot Protocol to USD 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 $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 $0.0300. 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 $33.64K.

What other assets are similar to Parrot Protocol?

Assets that have a similar market cap to Parrot Protocol include Swapsicle, Stablecoin, Popcoin, 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.

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