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JeanBrasse merged 1 commit into from
Oct 5, 2026
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docs(prl): supply and burns #36

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23 changes: 21 additions & 2 deletions src/pages/governance/parallel-governance-token-prl/index.mdx
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Expand Up @@ -2,7 +2,8 @@
title: Parallel Governance Token (PRL) — Governance
description: >-
PRL is the governance token of the Parallel Protocol: an ERC-20 issued on
Ethereum with a fixed one billion supply and no mint, pause or admin function.
Ethereum with a one billion initial supply, no mint, pause or admin function,
and more than half of the supply burned through governance decisions.
subtitle: Introducing the Parallel Governance Token
---

Expand All @@ -13,7 +14,8 @@ PRL is the governance token of the Parallel Protocol, which is a DAO-governed pr
* **Name:** Parallel Governance Token
* **Symbol:** PRL
* **Native blockchain deployed:** Ethereum
* **Total Supply:** 1,000,000,000
* **Initial supply:** 1,000,000,000, with no mint function
* **Burned:** 544,348,739.47 PRL as of 4 October 2026, so the net supply is 455,651,260.53 PRL ([live total](https://api.parallel.best/public/supply/prl), [live circulating](https://api.parallel.best/public/supply/prl/circulating)). See [Supply and burns](#supply-and-burns).
* **Decimals:** 18
* **Permit:** Yes
* **Pause function:** No
Expand All @@ -24,6 +26,23 @@ PRL is the governance token of the Parallel Protocol, which is a DAO-governed pr
PRL can be staked for sPRL to get voting power in the governance and receive fee sharing. Learn more [here](/governance/parallel-governance-token-prl/tokenomics).
:::

## Supply and burns

PRL has no mint function, so its supply can only go down. Burned PRL are sent to the dead address `0x000000000000000000000000000000000000dEaD`, where no one can spend them. The live figures subtract that balance from the initial one billion:

* total supply: [api.parallel.best/public/supply/prl](https://api.parallel.best/public/supply/prl)
* circulating supply: [api.parallel.best/public/supply/prl/circulating](https://api.parallel.best/public/supply/prl/circulating)

The DAO committed to burning 50% of the initial supply, 500,000,000 PRL. The burns come from governance decisions:

* [PGP-37](https://gov.parallel.best/t/pgp-37-l-prl-burn-phase-i/515), PRL Burn Phase I (January 2026): 26,371,873.81 PRL, from bought-back MIMO and past inflation.
* [PIP-65](https://gov.parallel.best/t/pip-65-accelerate-end-of-mimo-to-prl-migration-to-april-15th-2026/533) (April 2026): the 370,925,853.61 PRL left unmigrated when the MIMO to PRL migration closed.
* [PGP-40](https://gov.parallel.best/t/pgp-40-prl-burn-phase-ii/536), PRL Burn Phase II (May 2026): recurring burns of PRL bought back monthly by the DAO Treasury, of PRL received from sPRL1 early-exit penalties, and of PRL bought back with unclaimed PAR.
* [PGP-42](https://gov.parallel.best/t/pgp-42-redirect-sprl-par-distribution-to-prl-buyback-burn/539) (May 2026): for three months, the stakers' PAR distribution funds PRL buybacks and burns.
* [PGP-45](https://gov.parallel.best/t/pgp-45-otc-buyback-burn-of-100m-prl-from-mimo-labs/550) (September 2026): an over-the-counter buyback and burn of 100,000,000 PRL.

As of 4 October 2026, 544,348,739.47 PRL sit at the dead address, past the 500,000,000 target, for a net supply of 455,651,260.53 PRL.

## PRL Contract Addresses

| Blockchain | Contract Address |
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2 changes: 1 addition & 1 deletion src/pages/resources/factsheets/prl.mdx
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Expand Up @@ -22,7 +22,7 @@ PRL is the governance token of the Parallel Protocol. It replaced MIMO, and stak
| Underlying | None. PRL is not pegged; it carries governance rights and fee share when staked |
| Issuer | Parallel DAO; contracts built by Cooper Labs |
| Native chain | Ethereum |
| Total supply | 1,000,000,000 PRL, fixed. No mint, pause or admin function on the token |
| Total supply | 1,000,000,000 PRL initial supply, with no mint, pause or admin function on the token. 544,348,739.47 PRL were burned by 4 October 2026, so the net supply is 455,651,260.53 PRL; live [total](https://api.parallel.best/public/supply/prl) and [circulating](https://api.parallel.best/public/supply/prl/circulating) supply. See [Supply and burns](/governance/parallel-governance-token-prl#supply-and-burns) |
| Decimals | 18 |
| Canonical contract (Ethereum) | [0x6c0aeceeDc55c9d55d8B99216a670D85330941c3](https://etherscan.io/address/0x6c0aeceeDc55c9d55d8B99216a670D85330941c3) |
| Chains | The token is on 6 chains: Ethereum, Base, Arbitrum, Optimism, Polygon and Sonic. The [PRL contract addresses](/developers-hub/contract-addresses/parallel-v3/prl) page also lists PRL tokenomics contracts on Avalanche and HyperEVM, and a deprecated migration contract on Fantom, none of which carry the token |
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