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Solana based Parcl to launch PRCL token in April, aims to decentralize real estate trading

Parcl, a real estate digital investment platform based on Solana, announced that it will launch its native network token, PRCL, in April 2024. The token will enable holders to participate in the governance and utility of the Parcl Protocol, which is a decentralized exchange focused on real estate.

According to a tweet from Parcl, the total supply of PRCL will be 1 billion tokens, with an initial community airdrop of 7% – 8%. The initial circulating supply is expected to be 10% – 12%. Investors in Parcl include Dragonfly, Coinbase, Solan, and others.

Parcl claims to be the first-of-its-kind platform that creates a liquid market for the largest asset class in the world. The Protocol leverages the speed and scalability of Solana to facilitate the trading of fractionalized real estate exposure, equivalent to over 290 physical properties. The Protocol has attracted over $75 million in total value locked (TVL) and generated over $225 million in notional volume since its launch.

Parcl believes that the market opportunity for real estate trading is massive, exceeding $10 trillion. The Protocol is supported by the best-in-class residential real estate data and analytics of Parcl Labs, which provides users with access to high-quality information and insights. Parcl’s vision is to become the platform for the next generation of real estate globally.

To achieve this vision, Parcl is taking a step towards the progressive decentralization of its ecosystem, with the community as a primary driver. The PRCL token will allow holders to have a say in certain aspects of the Protocol and the decentralized application, such as fees, liquidity pools, and governance parameters. Additionally, the token will unlock enhanced utility across data and trading, including incentives within the Protocol ecosystem, such as Points, which will reward users for providing liquidity and trading on the platform.

The Parcl Foundation, which has an independent director, will organize and coordinate critical decisions governed by PRCL holders. The Foundation will also oversee the distribution of the token, which will be detailed in the upcoming Tokenomics report in March 2024.

Parcl is one of the most innovative and novel DeFi applications in the Solana ecosystem and the broader blockchain space. With the launch of the PRCL token, Parcl hopes to attract more users and investors to its platform and create a more decentralized and democratic real estate market.

Parcl Points: Season 2 – More Rewards, More Markets, More Fun

Parcl, the decentralized platform that allows users to speculate on rising and falling real estate markets, has launched the second season of its innovative loyalty program, Parcl Points. The new season promises to offer more points, increased yield, enhanced UI, new markets, and more opportunities for traders, liquidity providers (LPs), and holders of the exclusive HOA NFTs.

Parcl Points are a metric of a user’s contribution and engagement with the Parcl ecosystem. They are designed to enhance the trading experience, rewarding users for strategic and sustained activity on the platform. Through these points, Parcl aims to foster a vibrant and committed community, driving the platform’s growth and success.

Season 2 of Parcl Points kicked off on January 26th, 2024, and will run for a shorter duration than the previous season. However, the new season will feature several improvements and incentives for the participants, such as:

Points rates boosted: Users will earn 4 points per 1 USDC of LP capital per 24 hours and 2 points per 1 USDC of open interest per 24 hours. This is a significant increase from the previous rates of 3 and 1 points, respectively.

Consistency snapshot: On January 24th, 2024, a snapshot was taken of every wallet with open trading positions and active LP capital deposits. This established the foundation for a unique, one-time points boost (15% for eligible HOA holders, 5% for ineligible/non-HOA holders) to honor loyal Parcl traders and LPs. In order to be eligible for the incremental boost, HOA holders must have held on 1/24 at least 50% of the HOAs they held on 12/16. This snapshot is the first of several, recognizing and rewarding consistent participation.

HOA boost: HOA holders continue to represent Parcl’s most valued community members; the existing 20% boost for the first HOA and 5% boost for each HOA thereafter is being maintained. HOA NFTs are rare and limited collectibles that grant access to exclusive benefits and features on the Parcl platform.

Upcoming opportunities for developers: In the near future, points earning opportunities will be introduced for those who develop and implement withdraw settlements and liquidations. More details will be announced soon – an opportunity not to be missed.

Market expansion: Several new trading markets are being unveiled in the coming weeks, each selected to enhance Parcl’s diverse product offerings. For LPs, this implies a heightened potential for fee-generating activities. More details on these new markets will be revealed soon.

Enhanced incentive alignment: LPs will earn more and have an enhanced understanding of LP performance. The LP share of fees generated is being raised to 80%. Fees are increasing from 1/6bps maker/taker to 2/10bps, with the entire increase benefitting LPs. Additionally, the Parcl V3 architecture and dApp UI will be improved to provide more visibility into the drivers of LP performance, both in real-time and historically.

Season 2 of Parcl Points is part of Parcl’s vision to make real estate investing accessible, fun, and rewarding for everyone. Parcl offers city indexes that allow users to speculate on price movements of real estate markets across the globe, using reliable price indexes that represent the median price per square foot/meter. Parcl’s price indexes are powered by cutting-edge data science, driven by Parcl Labs, which collects and analyzes millions of data points from cities across the globe.

To join the Parcl Points program, users need to connect their Solana wallet, deposit funds, and start trading or providing liquidity on their favorite cities. Users can also refer their friends and earn 10% of the points earned by each user they refer, amplifying their earning power on Parcl. Users can check their points balance and ranking on the Parcl Points leaderboard.

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