Project Name: Parallel Finance

Number of COLLAB tokens requested: 7,671,940
Recipient Address: 0x742ff4B5fc80029e38EADb0122B8b92e5c071848

Proposal for token distribution (under 1000 words):

30% Team Reserves -> as one of the biggest community using Collab.Land, we would like to participate in Collab.Land future decentralised governance

20% Community Engagement -> future incentives for community engagement within the Parallel community using Collab.Land

50% early adopters airdrop -> direct airdrop distribution of the tokens to early users of the platform and collab.land tools

How will the tokens be distributed? Mechanism for distribution:**A claim interface will be built on the DApp for on-chain claiming of the tokens so eligible users can directly receive the tokens

Timeline: 3 months

User group being targeted:
Users with roles: Parallel Traveler, Parallel Explorer, Parallel Settler in our Discord Server.

How many users is this distribution projected to incentivize?
66913

How will this distribution incentivize usage and adoption of Collab.Land?
The token is expected to be distributed to users of the Collab.Land tool from the past, as well as continued usage of the tool in the future via future incentives using these tokens for users that use and build with collab.land.

What is the benefit of this distribution?
To Collab.Land: The distribution of tokens will positively affect the recognition of CollabLand and stimulate its use by users of the DeFi and Web3 sectors by attracting more users into using CollabLand via Parallel Finance.

To Parallel community: This token distributions allow our community to reward real users of web3 community tools, and provide further incentives for the community to continue building together. The tokens will also allow users of Collab.Land to participate in the governance of the project too.

Will your project provide any co-incentives?
Dependent on community governance. Plus ParaSpace (another project from Parallel) has yet to distribute a token, but early testers/adopters might be eligible for future token airdrops.

Where will tokens be held once distributed by Collab.Land DAO?
The tokens will be held in a Multisig on Optimism.