According to official news from Odaily, Web3 super application ParaX has now rebranded as Parallel Finance. During the transition to Parallel Finance, the application and smart contracts will remain unchanged and users will not need to migrate any assets. In addition, officials stated that it has raised more than US$30 million from institutions such as Sequoia Capital, Polychain, Blockchain Capital, Coinbase Ventures and Founders Fund. According to previous news on September 30, Web3 super application ParaX announced that it has received strategic financing from Metalpha, a Hong Kong digital asset wealth management company. The specific amount has not yet been disclosed.