In this paper, I propose a new interpretation for two of the most debated passages of Plato’s Parmenides: Socrates’ long speech (128e5–130a2) and Parmenides’ first antinomy (137c-155e). My aim is to demonstrate: 1) that Socrates’ speech can only make sense if we understand auta ta homoia as a third kind of entity, the immanent property sensibles have by participating in the form of Likeness; 2) that the first two hypothesis of the second part of the dialogue (137c-155e), together with Parmenides’ criticism in the first part of the dialogue (130b-134e), is an answer to Socrates’ challenge (128e-130a). Parmenides’ arguments aim to show that, according to Socrates’ own premises, it is not possible for forms or immanent properties to be the kin...