Parcl, an exchange operating on the Solana blockchain that facilitates trading in real estate indexes, has recently confirmed plans for an airdrop aimed at early adopters.
On February 25, Parcl announced its intention to introduce a PRCL token in April, enabling users to engage in governance as part of the project’s gradual move toward decentralization.
Introducing PRCL
Coming in April, the PRCL Network Token symbolizes a primary step towards the progressive decentralization of the Parcl ecosystem.
Learn more below 🧵
— Parcl Limited (@ParclLimited) February 25, 2024
The project stated that 7% to 8% of the token supply would be allocated to its community, with a total of 10% to 12% of the supply entering circulation upon launch.
According to the project, PRCL holders will have the opportunity to participate in governance related to specific aspects of the Parcl Protocol. Additionally, they will gain enhanced access to data and trading utilities, along with incentives within the Protocol ecosystem.
Parcl also highlighted that the token would serve as a gatekeeper, granting access to high-quality real estate data and fueling upcoming protocol incentive programs, the details of which will be disclosed later.
This announcement follows widespread speculation regarding the potential development of a PRCL token, sparked by the project’s second campaign offering points to users starting from January 26.
Points have emerged as a popular method in recent months to determine eligibility for airdrops. Parcl innovated on this concept by taking a “consistency snapshot” on January 24, aiming to reward active users on its platform before the launch of its latest points campaign. The initial points campaign began in mid-December.
This development aligns with other notable airdrops within the Solana ecosystem, such as Jupiter, Jito, and Wen.
The project’s v3 iteration, launched in November, led to a significant increase in its total value locked (TVL), soaring from a few thousand dollars to over $98 million, according to DeFiLlama. Parcl claims that its markets currently maintain an open interest exceeding $50 million.
