February 2026 Recap:
- 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.
- Protocol:
- Smart Contracts:
- Parallel v3.1: Completed.
- BailSec Audit: Completed. 0 ciritical, high & medium findings related to the code currently in production found.
- Cyfrin Audit: Initial report received on February 27th, currently working on fixes. 0 ciritical, high & medium findings related to the code currently in production found.
- 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:
- Savings USDp (sUSDp) Integration: Work in progress (delayed due to rework needed for v3.1)
- USDp backing rebalancing Keepers: Single chain rebalancers MVP live internally, working on stability and security. Crosschain rebalancers coming next.
- Frontend:
- Borrow page: Addition of Euler in progress.
- Borrow & Yield page: Addition of Merkl completed.
- Transparency Dashboard: Transparency Dashboard V2 work in progress, will include more details related to the backing & supply of USDp as well as associated risk of it.
- 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.
- Routing: reworked routing to provide better prices. Native mint/burn is now considered as an aggregator, no more need to click ‘Mint Preferred’ to get routed via native mint/burn.
- Others:
- SDK MVP is live, taking more time than initially planned, gradually replacing current codebase by the SDK.
- PIP-64 l Sunset USDp Parallelizer & Savings Module on Sonic live on the forum.
- PIP-62 l Use Hypernative for Real Time Protocol Security Monitoring approved by the DAO. Basic real-time monitoring is live, currently working with Hypernative team for advanced monitoring.
- Monitored potential exploit of Balancer reCLAMM pools. More details available here.
- Smart Contracts:
- Growth & Marketing:
- Growth Metrics:
- USDp supply at ATH with around 3.47M in supply. More details available here.
- Ads:
- Spindl Campaigns:
- Metrics Overview:
- Total Impressions: 668.5k
- Total Clicks: 3.7k
- CTR: 0.55%
- Total Conversions: 3.7k
- Total Spent: $3.7k
- Publishers:
- Coinbase Wallet
- Bitget Wallet
- Kucoin Wallet
- Metrics Overview:
- Spindl Campaigns:
- Growth Metrics:
- Integrations:
- DEX Aggregators:
- Odos USDp mint/burn & stake/unstake contrats integrations: Cancelled. Their BD left the company and no one is answering us.
- 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
- Stablecoins:
- New pool live on Curve Avalanche in collaboration with Frax. More details available here.
- Lending Protocols:
- HypurrFi integration live, to be announced publicly in March.
- Yield Protocols:
- Oracles Protocols:
- DEX Aggregators:
- Others:
- As announced on Telegram, Jean Brasse, is no more part of Mimo Labs. His focus is now fully on Cooper Labs, as CEO & Head of Product.
- In a continuous effort to ensure transparency and as discussed individually with several DAO members, Cooper Labs will not be seeking an increase in monthly compensation. However, we will begin expanding our operations to other protocols in the coming months. This will not affect the resources allocated to Parallel.
- One of Cooper Labs’ front-end engineers was let go earlier this month, his contract is finishing later this month. The decision is not related to Jean Brase no more being part of Mimo Labs.