Mimo Labs

Mimo Labs contributes to the @ParallelMoney protocol & @KumaProtocol.

[Mimo Labs @mimo_labs]

🇦🇪 Abu Dhabi week, here we go!!

We are heading to four key events in a city that’s quickly becoming a major hub for digital assets:

- Abu Dhabi Finance Week
- @bitcoinmenaconf
- @SolanaConf
- Solana Economic Zonz

See you there!

[Parallel @ParallelMoney]

Final update on the rsETH incident:

LayerZero has published their full post-mortem, the attack is attributed to DPRK's Lazarus Group, targeting downstream RPC infrastructure. Zero contagion to other applications has been confirmed.

USDp and PRL bridging modules are fully reopened on all chains. We have also reduced all indirect exposure to Aave to zero as a precautionary measure, given rsETH's use as collateral on their markets. For clarity, Parallel never had any direct Aave exposure.

All operations are back to normal.

[Parallel @ParallelMoney]

Parallel is not impacted by the rsETH bridge exploit.

As a precaution, we've taken the following measures:
- Paused LayerZero DVN activity for USDp and PRL bridges
- Paused frxUSD and sfrxUSD minting on the Parallelizer Module while we await confirmation from the Frax team on their own bridge status

Root cause is still under investigation. Early onchain forensics suggest the LayerZero Labs DVN, the sole verifier on Kelp's Unichain → Ethereum bridge (1-of-1 config), may have been compromised.

We also use the LayerZero Labs DVN, but our multi-DVNs setup is specifically designed to protect against this scenario:
- 2 required DVNs (LayerZero Labs + Nethermind)
- 1 additional optional DVN (Horizen or Canary)
- = 3 independent verifiers must agree on every message

Even in a scenario where one DVN is compromised, an attacker still couldn't forge a message through our bridge, the remaining verifiers would independently reject it.

On top of that, every Parallel bridge route has hard-coded daily mint limits ($2.5M) and global caps ($10M) per chain, acting as a last line of defense.

We also use burn/mint (not lock/unlock), there is no pool of locked tokens to drain.

All admin functions, including setPeer are controlled by the 5-of-8 DAO multisig with independent signers, not an EOA. No single party can modify bridge configuration.

As an additional precaution, we've paused minting of USDp against frxUSD and sfrxUSD until the Frax team confirms the status of their own LayerZero bridge setup.

All measures are precautionary. We'll resume normal operations once root cause is fully understood and we're confident there is no systemic risk.

[Parallel @ParallelMoney]

That moment when you realize 37.09% of the total $PRL supply has just been burned. 🔥

All unmigrated tokens have been permanently removed from circulation as of April 16, 2026.

For $PRL holders, this is a historic day. Over a third of the supply is gone forever.

The protocol moves forward. Leaner. Stronger.

[Parallel @ParallelMoney]

⏳ 3 days left. If you still hold MIMO: migrate now!

April 15, 2026: migration ends; unmigrated tokens will be burned (PIP-65). No extensions.

Step-by-step guide and migration page below ⤵️

[Parallel @ParallelMoney]

A proposal has been published on the governance forum to initiate the sunset of PAR, the EUR-pegged stablecoin issued by Parallel V2, on Ethereum and Polygon PoS.

Read more ↓

[Mimo Labs @mimo_labs]

MIMO holders have until April 15, 2026 to migrate to PRL 👇

[Parallel @ParallelMoney]

⏳ 5 days left. The last couple of days to migrate MIMO to PRL.

Deadline: April 15, 2026. Anything not migrated by then will be burned (PIP-65). This is the final stretch.

Step-by-step guide and migration page below ⤵️

[Parallel @ParallelMoney]

2.63% of the total $PRL supply has been burned 🔥

That's 26,371,873.81 PRL permanently removed from circulation.

A meaningful milestone for the Parallel Protocol and everyone who holds $PRL

The proof is on-chain 👇

[Parallel @ParallelMoney]

19th @cooper_labs Service Provider report is out:
→ Parallel v3.2 dev started, entering agentic payments (x402 & MPP)
→ USDp supply hits new ATH at ~3.84M(+10.66% MoM) → New integrations: HypurrFi, Purrlend & Clearstar on HyperEVM
→ Parallel API V2 & SDK V1 completed

Read the full report ⤵️

[Parallel @ParallelMoney]

The March 2026 DAO Treasury Report is out, powered by @OctavFi

- Total Holdings: $697,368.00
- MoM Change: +$16,536.00 (+2.42%)

More details ⤵️

[Parallel @ParallelMoney]

Great breakdown from @andyhyfi 🙌

sUSDp, sitting at the top of the @HypurrFi Yield market with 6.50% APY, is no accident.

The alpha is out there for those who look 👀

Want to put your stables to work on Hyperliquid? Start here 👇

[Mimo Labs @mimo_labs]

Don’t forget to claim your PAR 👇

[Parallel @ParallelMoney]

The Eleventh Fee-Sharing distribution to sPRL holders is now available for claim.

- Distributed Amount: 9,352 PAR ($10,802)
- sPRL holders: 58
- APR: 49% - 121%

To claim ⤵️

[Parallel @ParallelMoney]

Do NOT interact with HypurrFi domain or click any links for now.
Stay safe and wait for an official update from the team before taking any action.

[Parallel @ParallelMoney]

Discussion around PGP-39 is still ongoing. A counterproposal has now been published in the proposal's comments. We encourage the community to read through it and continue sharing feedback as the conversation evolves.

[Parallel @ParallelMoney]

The Parallel team is attending @EthCC

If you’re around and want to meet, chat, or discuss opportunities to collaborate, send us a DM.

See you in Cannes 🇫🇷

[Parallel @ParallelMoney]

sUSDp is live on @purrlend

Deposit sUSDp as collateral → borrow USDC or USDT0 on HyperEVM

Your sUSDp keeps earning its native yield while locked as collateral, and Parallel is adding extra incentives on top for borrowers

Powered by @redstone_defi price feeds

👉 https://t.co/rHUJ1royXN

[Parallel @ParallelMoney]

PIP-65, which aims to accelerate end of MIMO to PRL migration to April 15th, 2026, is now live on Snapshot.

To vote ↓

[Mimo Labs @mimo_labs]

🔥🔥🔥

[Parallel @ParallelMoney]

Worth highlighting: this is now the #1 pool by volume on @Balancer on HyperEVM. 🔥

Huge thanks to our partners and community for helping make this happen.

It's great to see USDp liquidity getting real traction on HyperEVM. @HyperliquidX

[Mimo Labs @mimo_labs]

The USDp/USDC @Balancer pool on HyperEVM is giving 20%+ APR 🔥

LP below 👇

[Parallel @ParallelMoney]

USDp/USDC pool is now live on @Balancer on HyperEVM.

Current APR: 20%+ 📈

Note: This is a boosted pool, meaning LPs can earn from both swap fees + underlying lending market yields.

Park idle stables, put them to work, and earn on-chain.

LP link below ⤵️

[Parallel @ParallelMoney]

PIP-64, which proposes to sunset the USDp Parallelizer & Savings Modules on Sonic, has been approved by the DAO.

In accordance with the vote, Parallel will discontinue the USDp Parallelizer & Savings Modules on Sonic, stop all on-chain incentives, and sunset DIA and RedStone price feeds for USDp and sUSDp, while keeping USDp and its bridging and flashloan modules active on Sonic.

[Mimo Labs @mimo_labs]

Nice watch 👀

[Parallel @ParallelMoney]

Worth a watch from @HypurrFi

@andyhyfi walks through the full strategy step by step, showing how sUSDp can be used as part of a broader yield stack on HyperEVM.

Watch the full 9-minute tutorial video and let us know if you have any questions.