This week, Jorrin Bruns (Support Engineer, Parity Technologies) is joined by Yubo Ruan, founder of Parallel Finance, a lending solutions provider designed to increase liquidity and acceptance on the Polkadot network. Parallel Finance is a Polkadot parachain and its sister network Heiko Finance is a Kusama parachain.
This episode begins with an introduction to Parallel Finance and its tech stack. They also discuss how Substrate helped Parallel launch a parachain in 7 months, and how the project is disrupting DeFi through a unique take on lending design and building user interaction interfaces (necessary for interoperability in DeFi).
01:53 How to launch a parachain in 7 months
03:30 What is Parallel Finance?
05:40 Substrate modules and tech stack upgrades
08:00 Validator participation requirements
11:34 Heiko use cases and the Security Module
14:20 Increasing engagement in governance
21:50 Parallel Finance products
29:38 Staked tokens can participate in governance
31:15 Borrowing based on your collateral
33:30 Auction lending and crowdloans
42:48 Value proposition between networks: Parallel Heiko and Parallel Finance
45:27 Participation in the Substrate Builders Program