Migrate your assets and debt from ParaX V1 to Parallel
As ParaX merges with Parallel, it is imperative that we foster this new experience together. In order to do this, we must migrate from ParaX V1 to Parallel.
To facilitate this transition, we have meticulously curated a dedicated migration process, designed with your experience in mind. Our aim is to ensure every step of the migration journey is guided and optimized for a smooth experience.
In order to migrate your positions smoothly, you will need to proceed accordingly. We've created detailed guides to help you with this step. Be sure to follow the guides to ensure the safe migration of your assets to the new Parallel protocol:
If you have any questions about the migration, you can get in touch with us directly in our Twitter, Discord, WeChat communities.
While every effort is made to ensure a safe and smooth upgrade and migration process, it is still recommended that you maintain a high degree of vigilance during the operation. Make sure you are using guides and links provided by our official channels to avoid any misinformation or scams from unknown sources.
ParaX Function Adjustment
After the deployment of Parallel, ParaX’s lending products will be streamlined within ParaX, and will make the following adjustments:
On August 31, 2023 UTC time, the calculation of points for ParaX V1 will be closed. Points can only be obtained by interacting with Parallel.
User migration will begin on September 6, 2023 UTC. After September 1, 2023 UTC time, ParaX V1 will shut down functions including: Supply, Borrow, ApeStake (Stake ApeCoin, Stake NFT, P2P) and other functions. Don't worry, you can still use these functions in Parallel.
On September 29, 2023 UTC time, support for all functions of ParaX V1's Ethereum mainnet will officially close, and you will only be able to experience the functions of the ParaX Ethereum mainnet in Parallel.
Other networks of ParaX will not be affected immediately, including: zkSync, Arbitrum, Polygon and other networks. You can still use them until Parallel is gradually deployed on these chains. Please pay attention to our latest developments so that your positions can be migrated in time.
It should be noted that even if ParaX is completely closed, all ParaX Withdraw and Claim related functions will not be affected and you will still be able to Withdraw and Claim your assets and rewards. You just cannot continue to Supply and Borrow.