ParaSpace: Will migrate from the ParaSpace platform to the ParaX platform and airdrop NFTs to some users

ChainCatcher news, the NFT lending protocol ParaSpace tweeted that ParaX has enhanced the Web3 experience through account abstraction, meta-user interfaces, and batch transactions. ParaSpace will migrate to ParaX and will assist top TVL accounts in migrating to the new ParaX platform.

In addition, the official will launch the ParaX Medal NFT, which will be airdropped to eligible migrating users during the first week of the migration process. The specific distribution is as follows: 200 NFTs will be airdropped to top accounts that help stabilize the exchange rate; 1000 NFTs will be airdropped to the top 1000 migrating accounts ranked by TVL and BNPL; 800 NFTs will be airdropped to those who did not make it into the top 1000 but still completed the migration (first come, first served).

ChainCatcher previously reported that the NFT lending protocol ParaSpace is merging with the Polkadot ecosystem DeFi protocol Parallel Finance and will rebrand as ParaX, becoming a Web3 super application powered by account abstraction and zkVM, aiming to provide users with the ParaX ecosystem covering account abstraction, meta-user interfaces, zkVM, etc., allowing users to manage their multi-chain assets and identities more conveniently.