Charlie Garcia
Parallel Network is a layer 2 scaling solution built on top of Ethereum, powered by Arbitrum’s Nitro stack. Parallel Chain is EVM-compatible which means you can do anything on Parallel Network that you would be able to do on Ethereum mainnet – deploy contracts, use Web3 apps, interact with wallets, etc.
Parallel Network has raised $34M in funding from investors like Polychain Capital and Coinase Ventures. They’ve confirmed to launch their token “PARA” and do an airdrop to testnet participants. They have introduced a point system where users can earn points based on their activities on the testnet. Points will be converted to PARA tokens after the token goes live.
- Visit the Parallel network testnet page.
- Select Parallel Testnet and connect your wallet.
- Now click on “Apps” from the top right, go to “Airdrop”, enter code “BA59A” and complete the Twitter tasks to sign up for the airdrop.
- You will now need some Sepolia ETH. You can get it from here.
- Now bridge ETH from Seploia to Parallel testnet from here.
- Return to the Parallel testnet page and click “Create Parallel account”.
- Go back to the “Apps” section, click on “Wallet” and claim testnet tokens.
- Click on “Apps” and go to “Lending”.
- Supply testnet NFTs and tokens. You will also be able to borrow assets after that.
- You will earn airdrop points for interacting with the testnet. Also, connect to the different available test networks like Goerli to earn more points.
- Invite your friends to the Parallel testnet to earn even more points.
- They’ve confirmed to airdrop PARA tokens to testnet participants based on their points.
- For more information regarding the testnet airdrop, see this tweet.
Are you interested in more projects that do not have any token yet and could potentially airdrop a governance token to early users in the future? Then check out our list of potential retroactive airdrops to not miss out on the next DeFi airdrop!
Overview
- Website: https://parallel.fi/
- Ticker: PARA
- Total Supply: 10,000,000,000 PARA
- Whitepaper: Download Whitepaper
- Twitter:
- Telegram Group:
- Discord Chat:
