TL;DR
With the official release of the PRCL token. It’s time to look closer at Parcl and the synthetic real estate marketplace it’s building. Ending their first Perpetual Points Campaign, users who followed the Parcl Airdrop Strategy last December finally received their rewards in April. Anticipated to distribute more than $160 Million to the community. The PRCL Airdrop carried a total value of $56 Million at its peak. With this distribution of equity now out of the way, let’s find out what’s next for Parcl. Can it hold a relevant position in the market? Or has the clock started on a race to zero?
Operating a crypto-focused synthetic market is unlike any other type of protocol. It carries a slightly higher risk tolerance due to the nature of synthetics.
These products are based on pure speculation and have more in common with perpetual contracts than anything else.
Parcl is no different when it comes to these types of speculative plays, offering up to 10x leverage for users who participate. Making it important to understand that while the project may be centered around real-world assets.
There’s nothing tangible backing up this synthetic marketplace. Using the Parcl dApp does not mean you’re purchasing any real-estate equity. Just like betting on a horse race doesn’t mean you own the animal.
What is Parcl?
Launching its first Testnet back in July 2022, Parcl isn’t a spring chicken to crypto. Beginning with the NFT collection dubbed Home Owners Association (HOA) launched on Solana.
This was our first look at the Parcl project. Issuing well-known cities in the form of NFTs, these tokens could be staked on the Parcl platform to earn early users unknown rewards during the initial Testnet. Lasting for only 10 days, Parcl quickly fell into the shadows until a year later, to the date. When it announced its second Testnet.
Shifting from an NFT-focused Testnet to a Concentrated Liquidity system. Parcl began letting users select location-based liquidity pools and open positions.
Sticking with Solana as its native network, this was the first design of a digital real-estate market launched using Solana. With more than $300 Trillion worth of real estate value in the world.
Parcl released this second phase of its testnet to offer new ways for non-property investors to access this quickly appreciating real estate market.
Now operating its third release of the protocol. Parcl has made significant upgrades to the market since its initial release in 2022. Many of these changes were made through direct feedback from community members and HOA holders. Adding a new governance mechanism, single-sided liquidity pools, and UX improvements to the protocol.
A few months into Parcl V3, the project announced its Perpetual Points Program last March. A reward system that centers around the continued support of HOA and LP providers. Issuing the periodic distribution of PRCL tokens to users based on the amount of points accumulating on the platform. This included consistency and other bonuses accumulated from the previous three seasons and rolled into the launch of Perp Points.
How does Parcl Work?
Parcl doesn’t use any property as collateral in the project. Unlike how Real Estate Investment Trusts (REITs) operate. It derives real-world utility…
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
