ParaSpace and Parallel Finance announce merger and rebranding to become Web3 superapp ParaX

According to official news from Odaily, ParaSpace and Parallel Finance will merge and undergo a brand upgrade. After the upgrade, ParaX will be positioned as a Web3 super application and is committed to becoming a multi-chain traffic portal. ParaX uses the account abstraction (AA) model based on ERC-4337, zkVM and a large language model of cross-domain intent, combined with a customizable UI interface, to enable users to conveniently participate in the Web3 ecosystem and connect with Uniswap, Blur, and AAVE in one stop and other mainstream applications to accelerate the large-scale adoption of Web3. After the brand upgrade, ParaSpace and Parallel will continue to develop as two representative applications on the ParaX platform. For Parallel Finance users, there is no need to operate the original assets on Polkadot. For holders of Parallel tokens PARA and HKO, ParaX will be airdropped in the future. For ParaSpace users, simple operations will be required to migrate assets to the ParaX platform, and previous loyal users will also receive future ParaX airdrops.