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Crypto for me is an adventure, just like the enormous growth Blockchain Projects have experienced over a short period of time, I have been growing in knowledge and understanding about the crypto world. So the space, however volatile, risky it is, has been thrilling to me, so much so that I am still in this crypto space after many disasters such as the terra crash, the general crypto crash and such things.
Infact crypto has changed and enhanced my critical thinking abilities. Now I pay attention to finer details which I hated doing earlier. My entire frame of mind adapts to crypto. I know I am deep into the rabbit hole in crypto and I have always something to learn and do in this space. This is very important for me, to keep me motivated.
My engagement with crypto through writing and growth as a crypto writer
I have been thinking of properly applying for crypto writing jobs and this has been only possible because of all the growth I have experienced as a writer in platforms like Hive, Steem and PUBLISH0X since 2020. Whatever fascinating insights and learnings I acquired from all my understandings dealing with crypto, I have shared through my written articles.
It was obvious crypto is my passion and I am a hard core crypto enthusiast. Now, combine this with my passion for writing and sharing knowledge, my journey as a crypto writer has been personally engaging. I have received some appreciation from my readers in these various writing platforms which has kept me motivated.
My Crypto journey lead me to become an Ambassador for Parallel Finance
This year, I wanted to grow more in the space and few other new things happened.
I became involved in writing for Parallel Finance taking part in the project’s ambassador program. This by itself was unexpected because I encountered this DEFI platform by chance.
My Polkadot association eventually lead me to Parallel Finance
Started as a small DOT holder unable to stake on the Polkadot Network
Around 2020, I must have become aware of DOT crypto as it suddenly emerged as a top ranked 4th placed crypto in terms of Market Capitalisation. I brought some DOT when it was 4$ and was disappointed as I was already late because minimum staking requirements became 40 DOT that time from 20 DOT. As a small investor I was already out of earning staking rewards from Polkadot.
From Polkadot’s Website >>
Polkadot’s Parachain Crowdloans made me a active participant in the DOTSUMA ecosystem
Got an opportunity to invest my DOT on Polkadot’s Parachain Crowdloans
Then last year, there was this Parachain Buzz and I understood that here was my chance to invest my DOT on some promising parachain projects whose seeds are about to be planted in the Polkadot Blockchain.
I could do this by contributing my DOT on Polkadot’s Parachain Crowdloans supporting the project I want as a Parachain to win a parachain slot in the Polkadot Blockchain.
I had the advantage of knowing the projects that I should support with promising projects already having won parachain slots on Polkadot’s sister Blockchain, Kusama Blockchain. Kusama is the Canary Network of Polkadot, so before any developments happened in Polkadot, it was tested in Kusama Blockchain.
As the Parachain Auctions process already finished in Kusama Blockchain before it got initiated on Polkadot, I got to know what projects are likely to win a parachain slot in Polkadot knowing the projects that won Parachain slot on Kusama Network.
At this stage, I got to learn most of the details following educational videos of youtubers CoinBureau
Encountered Parallel Finance when using it’s Crowloan Module to contribute to Parachain Crowdloans
I decided to support Acala through Acala’s own Crowdloan platform that gives back Liquid Crowdloaned DOT or LcDOT (if I remember correctly) proportionate to the DOT I contributed which I can use in Acala DEFI.
Later, I heard Lard Davis mention that if one contributes to Polkadot’s Crowdloans using Parallel Heiko’s Crowdloan platform we get cDOT that we can use in Parallel DEFI. This is liquid DOT again, as the DOT’s liquidity can be made use in DEFI.
Therefore, I contributed my DOT to two projects(Astar and Efinity) using Parallel Heiko’s Crowdloan Module for which I eventually got cDOT and some Para tokens as well.
This was my first association with Parallel Finance and I did not think much of it then.
Yet this made me establish a connection with Parallel Finance as I had to claim those cDOT and Para tokens.
Became a Parallel Finance Defi user as I could use my cDOT and Para tokens there!!
Parallel Finance then introduced functionalities which enabled me to make use of my cDot and Para tokens to earn further yields. So, there was a reason for me to stay engaged with the Parallel Finance platform, even though I had never supported Parallel Finance in Polkadot’s Crowdloans.
Turned into a Parallel Finance Ambassador to explore other opportunities as a crypto writer
Later, I heard about Parallel’s Ambassador program at a time when I was itching to grow further as a crypto writer. I had to enroll for the Ambassador programfilling up a form which I did and after a while I wrote my first article for Parallel Finance using Medium platform as my articles needed to be Medium posts.
I never thought it would be approved by the article curator member @CryptoFluffyCat there, but it got approved and I got my first 75 points!!
Ever since then I have been writing articles on Parallel Finance and spreading awareness about this Super DEFI App.
Parallel Finance introduced me to Medium Platform where I am growing my Audience
I remember my first article also won me my first medium follower who commented that he enjoyed reading my article.
Another of my Parallel Finance article had one of the editors of Coinmonks publication approach me and ask me if I could publish my crypto articles on their publication. is a non-profit based crypto education platform and these days I always publish my crypto related articles in Medium on their publication as well.
So, thanks to Parallel Finance I have spread out my wings as a crypto writer, writing on Medium Platform as well and acquiring some of my reader audience there as well. All this is again very encouraging and motivating.
These little, little positive outcomes, makes me feel that I have a future as a crypto writer after all, even though crypto has not made me materially wealthy.
Parallel Ambassadors earn points and work to level up to reach Diamond Level and win perks
Parallel Ambassador, I don’t get HKO or Para token rewards for writing content on Parallel’s various DEFI modules, I get points which elevate my level. Once I earn enough points becoming a Diamond Ambassador I get -
Special edition NFT and other perks which you can read here including hopefully some cool Parallel Finance Merchandise.
My scorecard doing tasks as a Parallel Ambassador
Right now, I won 1525 points making me a Level 1 Bronze level Ambassador. To reach Level 12 and become a Diamond ambassador I need to earn over 7031 points. Shrugs…
My next aim is to first complete Level 1 earning 2204 Points and progress to Level 7 which will make me a Silver Level Ambassador. I have 500 more points to earn for it!!
Till now I have earned points for writing articles, making infographics about Parallel Finance. The points for posting articles and infographics is 75 points but on some of my posts @CryptoFluffyCat has given me over 100 points saying the article quality was really good with my own created infographics as well!!
My growing journey as a Parallel Ambassador similar to that of me as a crypto writer
So, this was my journey with Parallel Finance with which I got associated by using its Crowd Loan Platform and now am tracking this Super DEFI Platform’s developments, and writing about the Platform as a Parallel Finance Ambassador
This is similar to how I evolved as a crypto writer myself, learning about crypto and then sharing my insights through articles and earning something for it, be it in the form of points or crypto from platforms like Hive, Steemit and Publish0x .
You can read my articles on Parallel Finance to learn about this Super DEFI App.
Parallel Finance expands its utility with Defi functions having initiated in the platform
More rewards for LP providers with the Yield Money Market functions of Parallel Finance
Hurray now it’s finally possible to utilize our DOT on Parallel Finance to earn yields with DOT Liquid Staking
Parallel Finance offers more services than majority of the DEFI platforms in the space
Parallel Finance’s Stream makes scheduling of automatic, periodic payments possible
Value added Web 3 financial services of Parallel Finance make it a DEFI Super App
Liquidation risk free DOT loans using your cDOT assets as collateral in Parallel Finance
A look into the Comprehensive Web3 Financial services that Parallel Finance offers
Innovative Web3 financial solutions of New Age DEFI Super App?—?Parallel Finance
Wow APY rates for DOT lenders in Parallel Finance with DOT’s high utilization rate in the protocol’s Money Market
As a Parallel Ambassador, this time I have composed a song on Parallel Finance
Writing about Parallel Finance has made me so familiar with some of its core functions that I composed a song on this Super DEFI App which you can hear here -
My song on Super DEFI App?—?Parallel Finance
If this songs gets approved by the song verifying member @ParaOne there then I earn another 110 points, although I have already earned 75 points for the graphic I made with the lyrics of the song I composed -
“Enter the Super DeFI app Parallel that’s Finance”
Parallel Finance has evolved to be a Super DEFI App!!
As I kept exploring Parallel Finance, I have actually come to realise that Parallel Finance is not the usual common generic DEFI platform that offers only AMM functionalities.
Recap of some of the Core services offered by Parallel Finance
Parallel Finance’s Crowdloan services
Even before Parallel Finance came live as a parachain in Polkadot Blockchain, its Parallel Heiko platform in Kusama Network was used for contributing to Polkadot Crowdloans.
I remember now that I used Parallel Heiko’s Crowdloan Module to contribute to Polkadot’s Parachain Crowdloans.
Parallel Finance’s AMM functionalities
Then Parallel Finance came live as a Parachain in Polkadot in the beginning of the year. At first it had its AMM functions activated, where cDOT and Para holders could provide liquidity and earn LP rewards. Swapping functions are also part of Parallel Finance’s AMM functionalities.
Parallel Finance’s Money Market Module
Later, Parallel Finance had its Money Market module live where users can lend and borrow assets and earn yields.
Parallel Finance’s Liquid DOT Staking services
Then, Parallel Finance launched its Liquid DOT Staking Module where a user needs just 5 DOT to stake and earn DOT staking rewards. These Liquid DOT stakers, receive sDOT which they can lend in Money Market and earn yields or provide liquidity to sDOT/DOT pairs and earn yields.
Now, using Parallel Finance’s Liquid DOT Staking Module, I am earning DOT staking rewards which as I narrated I was not able to earlier!!
Parallel Finance’s Dai Fi functionalities with Stream Protocol
Well, Parallel Finance has more functions like its Stream Module which is used to send and receive automatic payments over a period of time which is useful for making payroll payments and distribution of vesting tokens or dividends
I have mentioned only some of Parallel Finance Super Defi App functions in the song?—?“Enter the Super DEFI App?—?Parallel Finance”
About Parallel Finance
Parallel Finance offers a range of valuable WEB3 financial services and aims to be a secure DEX with a user interface which is easy for anyone to use.
For DOT users, Parallel Finance, as explained, provides very useful services with its Crowdloan Module and Liquid Saking DOT Module. It’s a one stop DEFI Hub for DOT users, where they can easily participate in various aspects of the Polkadot Blockchain.
Parallel Finance has an ambitious target of onboarding 1 billion users to its platform, and it aims to do it by proving to be a secure and user friendly DEX providing valuable web3 financal services that users need.
Enter The Super DEFI App that’s Parallel Finance here -
Parallel Finance -
Parallel Finance Channels and Resources
https://twitter.com/ParallelFi
Discort?https://discord.gg/DeyEntFT
White paper?https://parallelfi.gitbook.io/parallel-finance/polkadot-network/white-paper
