Solana ecosystem RWA project Parcl is expected to launch its token $PRCL in April this year, with a total supply of 1 billion tokens and an initial community supply of 7% to 8%. With the anticipation of potential airdrops, Parcl’s total value locked (TVL) has soared and is currently approaching $120 million, nearly quadrupling since the beginning of the year.
Summary:
Starting from last year, RWA (Real-World Assets) has become a hot topic in the Web3 sector. Some projects are exploring ways to bring more assets into the crypto world, such as real estate. Parcl, a project that caught the attention of Odaily, is one of them. Unlike other projects that tokenize individual properties, Parcl has built a regional real estate price index trading product, which has expanded to 10 regions (mainly in US cities) and will be launched in cities such as Hong Kong, London, and Jakarta in the future.
Parcl is a decentralized derivatives platform for real estate indices based on the Solana blockchain. The real estate index of Parcl is similar to traditional financial REITs (Real Estate Investment Trusts), but Parcl does not directly tokenize existing mature REITs products. Instead, Parcl Labs collects data points for a specific city region and calculates the current real estate market price index for that region, which is transmitted on-chain through the Pyth oracle.
According to the official announcement, Parcl will launch its token PRCL in April this year, with a total supply of 1 billion tokens and an initial community supply of 7% to 8%. The use cases of PRCL tokens can be summarized as follows: data function and further protocol incentive programs. More specific details about the token economics will be disclosed in March this year.
To potentially participate in the airdrop, there are a couple of methods summarized by Odaily. One is through the point system activity organized by Parcl, where participants can earn points by providing liquidity or trading. Another possibility is for NFT holders, as Parcl released an NFT called “Homeowners Association” in May 2022, which saw a significant increase in price due to the anticipation of the airdrop.
Compared to other RWA real estate projects, Parcl stands out with its professional team members coming from Microsoft and well-known financial institutions. The project’s design is also unique, using a self-developed index-based derivatives trading platform instead of directly tokenizing traditional financial assets.
While Parcl has no restrictions on entry, the limited returns may become a limiting factor for its expansion. Due to the nature of real estate, the market volatility is lower compared to the crypto market, making it more suitable for investors seeking stability and familiar with real estate. This may hinder the trading enthusiasm of Web3 users.
In addition, according to Parcl’s token economics model, the initial supply accounts for only 7% to 8%, and some tokens may be rewarded to participants in transactions or new LPs, attracting more users to participate and continue to attract liquidity.
In conclusion, Parcl has a solid fundamental, and its future development will depend on the token strategy after the airdrop.