Parallel USDp (USDp) stablecoin analytics
USDp is Parallel's DAO-governed dollar minted against a whitelisted basket of overcollateralized stablecoins through a licensed Angle Transmuter fork.
Static Profile
Static stablecoin profile
Parallel USDp (USDp) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated May 18, 2026
Parallel USDp is the liquid, non-yielding dollar minted through Parallelizer modules against whitelisted stablecoin collateral. Yield accrues to the separate sUSDp savings wrapper, leaving USDp as the base stablecoin with dependency risk to its collateral basket.
AI summary · drafted by codex-stablecoin-review · reviewed by Codex data review on May 18, 2026 · facts as of May 18, 2026
- Collateral
- Overcollateralized basket of correlated USD stablecoins and yield-bearing wrappers routed through the Parallelizer Module: frxUSD, sfrxUSD, USDe, sUSDe on Ethereum; USDS, sUSDS on Base; USDe, sUSDe on HyperEVM; USDC and ygamiUSDC on Avalanche. Composition and exposure limits set by sPRL holders via DAO vote.
- Peg Mechanism
- Parallelizer Module (a licensed fork of Angle Protocol's Transmuter) lets users mint and burn USDp at oracle value against a whitelisted overcollateralized basket, with adaptive fees that widen on depeg. Yield is delivered through a separate Savings Module wrapper (sUSDp); liquid USDp itself does not accrue yield.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Snippet Answer
Is USDp safe?
Pharos does not mark USDp as absolutely safe. Static metadata says Parallel USDp uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with curated reserve profile; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usdp-parallel
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated May 18, 2026.
USDp quick answers
What is Parallel USDp (USDp)?
USDp is Parallel's DAO-governed dollar minted against a whitelisted basket of overcollateralized stablecoins through a licensed Angle Transmuter fork. The static profile records its US Dollar peg mechanism as: Parallelizer Module (a licensed fork of Angle Protocol's Transmuter) lets users mint and burn USDp at oracle value against a whitelisted overcollateralized basket, with adaptive fees that widen on depeg. Yield is delivered through a...
What backs USDp?
Pharos classifies USDp backing as Crypto-Collateralized. Collateral, per the static profile: Overcollateralized basket of correlated USD stablecoins and yield-bearing wrappers routed through the Parallelizer Module: frxUSD, sfrxUSD, USDe, sUSDe on Ethereum; USDS, sUSDS on Base; USDe, sUSDe on HyperEVM; USDC and ygamiUSDC on... Reserve evidence: curated reserve profile.
Can USDp be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for USDp, when applicable, appear in the dossier below.