January 2026 Recap:
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General:
- Focus is on USDp Growth & Parallel v3.1
- Due to the global economic situation, we are seeing many companies in the ecosystem facing layoff plans and reducing their growth and incentive budgets. This has resulted in fewer potential deals.
- In addition, following the fraud committed by Stream in November 2025, we have observed growing scepticism towards decentralized stablecoins. We are therefore working with all partners to ensure that Parallel is as robust as possible. That is why we have proposed working with Hypernative and will propose a new full audit of the protocol in the coming days. We are also working on numerous documents to explain how the protocol works in detail, and are currently undergoing extensive due diligence, a process that takes several weeks to several months.
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Protocol:
- Smart Contracts:
- Parallel v3.1: Completed
- First Audit with BailSec in progress
- Opened discussions with several audit companies for a new full codebase audit of Parallel, will publish a proposal in the coming days related to this.
- Preparing deployment of USDp on new chains, including Parallelizer, Savings, Flashloans & Bridging Modules, as introduced in PIP-57 l USDp Chains Deployment Phase II (Delayed due to focus on Parallel v3.1)
- Parallel v3.1: Completed
- Backend:
- updateOracle & process_report Keepers: Completed. Now in production, replacing Gelato functions.
- Savings USDp (sUSDp) Integration: Work in progress (delayed due to rework needed for v3.1)
- USDp backing rebalancing Keepers: Work in progress (current priority)
- Frontend:
- Borrow page: Addition of Euler in progress. (Silo will not be integrated, focus is on Euler)
- Transparency Dashboard: Publicly Announced. Added DeBank as a secondary option.
- Mint page: Discussions ongoing to give users the possibility to mint & burn USDp on any chain in one transaction, including chains where the Parallelizer Module is not deployed.
- Others:
- We started to work on an SDK in order to simplify deployment & maintenance process.
- PIP-61 l End MIMO to PRL Migration approved by the DAO. Non-migrated PRL will be burned on August 1st 2026.
- PGP-37 l PRL Burn Phase I approved by the DAO. 2.5% of the total supply will be burned.
- PIP-62 l Use Hypernative for Real Time Protocol Security Monitoring proposed to the DAO in order to increase security.
- Smart Contracts:
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Growth & Marketing:
- Growth Metrics:
- USDp supply at ATH with around 3.19M in supply. More details available here.
- Ads:
- Spindl Campaigns:
- Metrics Overview:
- Total Impressions: 324.9k
- Total Clicks: 1.7k
- CTR: 0.54%
- Total Conversions: 1.7k
- Total Spent: $1.7k
- Publishers:
- Coinbase Wallet
- Jumper (deprecated during January due to the launch of their Earn product, considered by them as a competitor. We’re currently having discussions to onboard sUSDp in their Earn Page in order to bring back ads)
- Bitget Wallet
- Metrics Overview:
- We launched 12 new campaigns in January, it took 3 weeks to get approved by publishers, which is why the ads chart looks like this.
- Ads will be published on 2 new publishers in the coming weeks, pending Spindl.
- Spindl Campaigns:
- Growth Metrics:
- Integrations:
- Odos USDp mint/burn & stake/unstake contrats integrations: Work in progress. Integration delayed due to internal issues at Odos.
- Liquid Labs USDp mint/burn & stake/unstake contrats integrations: Work in progress.
- In discussion with additional DEX aggregators to natively integrate USDp mint/burn & stake/unstake contrats
- Lending Protocols:
- 2 integrations currently ongoing, to be announced later this month.
- Oracles Protocols:
- RedStone:
- Fundamentals price feeds are live on Base, HyperEVM, Avalanche & Sonic. To be announced publicly later this month.
- RedStone:
- Others:
- We were in discussions with 2 chains to bring USDp & sUSDp with incentives. The first one decided to pause grants & incentives due to market conditions. However we reached an oral agreement with the second one, we expect an MoU to be signed later this month.