According to Foresight News, NFT lending protocol ParaSpace is merging with Polkadot-based DeFi protocol Parallel Finance, rebranding as ParaX. The new entity aims to become a Web3 super application supported by account abstraction and zkVM. The goal is to provide users with a ParaX ecosystem that includes account abstraction, meta-user interfaces, and zkVM, allowing them to more conveniently manage their multi-chain assets and identities.