Intro
ParityUSD was announced at the Bliss 2025 conference, now 2.5 months later on BCH Day, it seems like a great time for us to fill everyone in with a 'Development Update' of what we've been up to! But first of all: happy BCH Day everyone! 🎉
State of Development
Development on ParityUSD has been going great! There's a lot of ground to cover with many moving parts, to give you an idea here's the main parts:
- the ParityUSD smart contracts
- the ParityUSD TypeScript library
- the ParityUSD web platform
- the ParityUSD transaction server
- the ParityUSD interest manager
- the ParityUSD monitoring dashboard
- the ParityUSD chipnet setup
Our full techstack is leveraging TypeScript, with the exception of the smart contracts which are written in CashScript.
The ParityUSD transaction server is using the TypeScript Effect library/framework for best safety practices in error handling and testability.
Advancing the Ecosystem
With ParityUSD we have the explicit goal of advancing the Bitcoin Cash and CashTokens ecosystem. While developing solutions we keep it in front-of-mind to enable others to use the solutions also. A recent example of this is the WalletConnect integration into CashScript (as part of v0.11.1 and v0.11.2) which will make development much easier for other builders also.
ParityUSD smart contract development has inspired a list of improvements for CashScript. Recently new .slice(x, y) syntax was introduced as an alternative to .split(x)[1].split(y-x)[0] and better type safety when using .split or .splice in the language.
We also created a chaingraph-ts library to share our learnings from working with ChainGraph for ParityUSD.
Additionally as part of ParityUSD development we're also making improvements to Cashonize on an ongoing basis.
BCH Indexers
Early on in ParityUSD development we started leveraging the advanced capabilities of the ChainGraph indexer to enable arbitrary queries and subscriptions to Bitcoin Cash blockchain info. However, while ChainGraph providers very powerful new capabilities, it is currently undergoing a full rewrite to a new database backend and is generally not stable enough to be powering an application with high reliability requirements like ParityUSD.
Recently after extended internal usage we have decided to exclusively rely on Electrum Indexers (Fulcrum) for the core ParityUSD functionality while separating the ChainGraph usage into an extension class which enables optional "nice-to-have" details like user history and historical loan info.
This dual-indexer usage guarantees ParityUSD can meet high-reliability requirements while also being able to offer advanced features which do not have the strict requirements of the core functionality. This way ParityUSD will be able to offer both high-reliability as well as detailed insights for users about historical loan info and user history (for loans, staking and redemptions).
BCH Network Upgrades
ParityUSD does not require any BCH Network upgrades. As ParityUSD is planned for Q3/Q4 2025 it wouldn't be using any new features introduced later. The proposal which would likely have the largest benefit for DeFi projects like ParityUSD is a reduction in blocktimes. We'll explore the impact of blocktime on BCH DeFi in more detail in our whitepaper.
The pay-to-script CHIP which extends the maximum nft-commitment length would also have benefitted ParityUSD's design somewhat by removing the need for state side-cars when nft state exceeds the current 40-bytes limit.
What's next?
We plan to start writing our whitepaper and have a running smart contract code audit over the coming month. At this stage we'll mainly be focusing on internal testing of all the components and their interactions.
BCH Day
Today, on August 1st 2025, Bitcoin Cash turns 8 years old. It's been quite a journey and not without its bumps in the road. The past few years however the trajectory has been remarkably steady with regular big, impactful improvements to the network. In the coming 2 years for BCH's 10th anniversary, we expect BCH DeFi to take off in big ways. Not just ParityUSD as a single dapp but the whole interoperable CashTokens ecosystem with many wallets, DEXes, lending & borrowing platforms, marketplaces and more. In the chaotic crypto industry with experimentation in all directions, this focus and alignment of the BCH ecosystem will prove to be one of its main selling points.
Happy BCH Day everyone 💚, let us take all the BCH growth and usage graphs up and to the right! 📈
Join the Conversation
Stay informed about our progress and dive deeper into the details of the ParityUSD project by following our updates. We invite you to be part of the discussion and join the community.
- Follow ParityUSD on X: x.com/ParityUSD
- Join the ParityUSD group on Telegram: t.me/parityUSD
In our Telegram group, you’ll have the opportunity to engage directly with the team and developers—ask questions, share your thoughts, and be part of the ongoing conversation as we build ParityUSD together!
