🪂paraSBT - FAQ

What is paraSBT?

paraSBT is Parabol's soulbound token, a soulbound ERC-20 token that cannot be transferred.

paraSBT acts as a key to access paraUSDs and sets an allocation limit for each participant. Holders of this token gain early access to paraUSDs through a private permissioned pool before they are available for public minting.

What can I do with paraSBT tokens?

paraSBT holders will have early access to paraUSD liquidity pools and to get early access to Parabol Rewards Program

Will I receive something in future according to how many I have?

1 paraSBT token will reserve 1 paraUSD in the liquidity pool. To participate in the initial liquidity pool, paraSBT owners are required to supply additional stablecoins—specifically, USDC—as a prerequisite for swapping to paraUSDs.

Does paraSBT have any monetary value?

The tokens cannot be traded or moved from the account that received them but can only be used to get early access to paraUSD liquidity pools.

What is a soulbound token?

Soulbound Tokens (SBT) are non-transferable digital identity tokens.

How can I claim paraSBT?

You can go to https://claim.parabol.fi and follow instructions