Parallel Finance adds a very useful financial service with the platforms Stream module
Parallel Finance being a Super DEFI App offers more services apart from it’s AMM, staking and Money Market functionalities which I had discussed in my previous articles here -:
More rewards for LP providers with the Yield Money Market functions of Parallel Finance
Parallel Finance expands its utility with Defi functions having initiated in the platform
As a DEFI hub, that aims to be a one stop solution offering users various financial services, Parallel Finance has recently launched its Stream services activating its Dao Fi functionalities.
Tweet. Steam enables periodic automatic payments for tasks like payroll.
Stream module makes it possible for scheduling periodic automatic payments, making it a web3 solution for payroll and token and equity distribution.
Right now, the Stream module can be used to send and receive automatic, periodic payments of DOT and Para tokens, however soon support for other cyptos like ETH would be added.
Parallel Finance’s Dao Fi Stream Module
One thing that’s cool about stream is that payments happen in real time. So, let’s say you’re scheduled to receive your payments bi-weekly , but you need funds urgently and there is still 1 week left for your scheduled salary payment date. You can still withdraw your 1 week’s salary from the stream module, as payments happen in real time!!
So, Stream makes payroll function to happen seamlessly where the employee gets his/her payment in time and on real time!!
About Parallel Finance
Parallel Finance, now has its swapping, staking, money market and crowd loan modules active.
This decentralised platform built on Polkadot aims to be a DEFI hub that will offer various Web3 Financial solutions aiming to empower billions of people with access to financial services as they engage in capital efficient DEFI.
Currently, Parallel Finance is the top parachain in terms of TVL in Polkadot with assets worth 603.76 M locked in the platform.
Know about Parallel Finance -
Website — https://parallel.fi/index.html
Twitter — https://twitter.com/ParallelFi
Discort — https://discord.gg/DeyEntFT
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