We believe that DeFi has presented the world with a path toward sustainable economic sovereignty for every income class. With it, we can program financial tools more effectively than we can in traditional finance, and with a more egalitarian distribution. For example, by combining lending and staking, our protocol enables users to earn dual interests—something that TradFi simply cannot do. Still, we are in the early years, and there is a great deal of innovation to be had. In the future, individuals will be able to tokenize and lend their assets to a variety of on-chain markets, and bank systematic yield. Decentralized apps like Parallel will act as gateways to a less labor-intensive investment experience. Investment strategies that were once used exclusively by the well-connected elite will be available to every user with intuitive one-click operations.
The truth is, there is no currency more valuable than time. We believe financial tools should be time-saving and simple. The more intuitive and effective the instruments, the more traffic a decentralized app will have. While there are many lending projects on Ethereum, and other EVM-compatible chains, existing lending solutions are not user friendly. The number of actions the user has to take to get from point A to point B is usually greater than one. As well, the cachet of things a user needs to remember while using a DeFi app are usually greater than one. If DeFi is going to be accepted into the mainstream, it is going to need many, many more single-operation opportunities, with far, far fewer mnemonic-load requirements.
Apple’s interaction design is a source of inspiration for the Parallel team. You might note that Apple’s patented one-click design only arrived subsequently after a significant amount of development had streamlined the hardware. Likewise, Facebook only came along after Myspace tested the social media waters. Parallel’s positioning in the second wave of DeFi actually makes it a strong contender to be the first user-friendly platform in which DeFi’s growth begins to merit a more consolidated interaction. Indeed, Parallel hopes to bridge many aspects of traditional user interaction design to DeFi.