Parrot x Sypool: Jumping Into Fund Pools Together
We are glad to welcome Parrot Protocol to collaborate with Sypool.
Sypool is building a suite of automated portfolio products. Working with Parrot, it will be possible for users to use PAI, a Solana native stablecoin, to provide liquidity into our fund pools. The PAI stablecoin is backed by a diverse basket of crypto assets, as well as yield generating tokens, as collateral types. By adopting PAI, the Sypool ecosystem will be able leverage these diverse asset types in its investment strategies.
The Parrot Protocol is a DeFi network built on Solana that will include the stablecoin PAI, a non-custodial lending market, and a margin trading vAMM. These are all use cases designed to solve one single problem: making value locked in DeFi systems accessible.
The Parrot Protocol is setting out to make value locked in LP tokens accessible, by creating a liquidity & lending network collateralized by these LP tokens.
Sypool is a synthetic asset management protocol which is built by professional quantitative trading team.
This is another innovation that we have migrated finance from off-chain to on-chain. This idea was inspired by both off-chain fund companies and packaged asset derivatives. On the one hand, we tokenize fund shares. On the other hand, this share token actually represents a small part of a multi-token pool, thus providing the scarce liquidity for the cryptocurrency market.
Therefore, you can consider it as a fund share, or you can consider it as a mirrored token pool asset, or your own portfolio, as well as other new uses that may appear in the future.