Solana Ecological 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 been soaring and is currently approaching $120 million, nearly quadrupling since the beginning of the year.
Project Overview
Predicting Parcl Airdrop Standards: NFT holders may have the opportunity to receive airdrops.
Summary
Since last year, Real-World Assets (RWA) have become a popular sector in Web3. Some projects have been exploring the integration of more assets into the crypto world, such as real estate.
Odaily Star Planet Daily recently noticed a project called Parcl, which is one of them. Unlike other projects that tokenize individual real estate, Parcl has built a regional real estate price index trading product and has expanded to 10 regions (mainly U.S. cities), with plans to launch real estate index products in cities such as Hong Kong, London, and Jakarta, Indonesia in the future.
The official announcement states that the token PRCL will be launched in April this year. With the anticipation of potential airdrops, the TVL continues to rise and has now approached $120 million, nearly quadrupling since the beginning of the year. Odaily Star Planet Daily has summarized some methods on how to obtain potential airdrop opportunities.
Parcl is a decentralized derivative platform for real estate indices based on the Solana blockchain.
Parcl’s real estate index is similar to traditional financial REITs (Real Estate Investment Trusts), but Parcl does not directly tokenize mature REITs products. Instead, Parcl Labs collects data points for a specific city or region to calculate and establish the current local real estate market price index. This information is then transmitted on-chain through the Pyth oracle by the Parcl development team.
Note: Parcl Labs’ price data source (PLPF) is based on the estimated price per square foot of residential real estate provided daily for multiple markets and property types.
Parcl has previously launched and operated its V2 version, and Odaily Star Planet Daily has also translated related articles titled “A Complete Guide to the Solana-based RWA Platform Parcl: How Does RWA Change Real Estate Investment?” which explains the product usage process. Interested readers can refer to the previous article for learning.
Parcl is now executing its V3 protocol version, which expands the liquidity extension suite compared to the previous version. It introduces decentralized governance and risk control functions to protect LPs (Liquidity Providers) and traders from excessive market imbalances. Essentially, there is not much difference in user experience compared to the previous version.
According to the product page, Parcl has a total of 10 tradable real estate market indices, mainly in U.S. cities. However, it will soon launch in cities such as Hong Kong, London, and Jakarta, Indonesia.
Currently, there are no other restrictions on Parcl’s trading, and it can be traded for more than 1 USDT. However, by observing the index of each region, the volatility is relatively low. The data in the above chart shows a 10x leverage fluctuation rate over three months.
Therefore, Parcl is more suitable for investors with large funds and a need for asset diversification. Ordinary investors may be more accustomed to the high volatility of the crypto market and may prefer more stable assets in traditional financial markets.
According to data from DeFiLlama, Parcl’s TVL is $119.1 million, nearly quadrupling since the beginning of the year and still growing rapidly. With the upcoming Parcl airdrop, the increase in LPs and traders may be the core reason for the growth of Parcl’s TVL.
According to official information, 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 functionality: PRCL tokens are integrated into the Parcl Labs API as a access mechanism for obtaining high-quality residential real estate data.
– Further protocol incentive programs: Qualified PRCL holders may have the opportunity to participate in Perpetual Network Incentives (such as points), which will be launched shortly after the initial distribution event.
More details about the token economics will be officially disclosed in March this year, and Odaily will continue to follow up.
To obtain potential airdrop opportunities, the author has discovered the following possible airdrop standards by examining the development history of the Parcl project:
1. Parcl’s point-based activities: Currently in the second quarter, this point-based activity adopts three criteria: 4 points per US dollar for LP providers, 2 points per US dollar for traders (calculated at the time of opening positions), and 10% points for inviting new users. According to the data, nearly 150,000 people are currently participating in this activity.
2. NFT holders: Parcl’s “Homeowners Association” issued in May 2022, with an issuance price of 0.5 SOL, but the price fell below the issuance price in less than half a year. Influenced by the anticipation of airdrops, the price rose to 15 SOL by the end of 2023, and there are currently no listings on Opensea.
Parcl is different from other RWA real estate projects, especially when looking at the technical details of its Parcl Labs-developed real estate market index. The team is more professional, with members coming from Microsoft and well-known financial institutions. The project’s design is also innovative, using a self-developed index-based derivative trading platform, which is different from directly tokenizing traditional financial assets.
Parcl has no access restrictions, allowing most Web3 users to participate directly (except for the United States), making it easier to expand.
Although there are no access restrictions, limited returns may become one of the limiting factors for its expansion. Due to the natural characteristics 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. The trading enthusiasm of Web3 users may be hindered.
In addition, according to the tokenomics model released by Parcl, the initial supply accounts for only 7% to 8%, and some tokens may be rewarded for participating in transactions or adding LPs to attract more users and continuous inflow.
In conclusion, the fundamentals of the Parcl project are good, and the future development will depend on the token strategy after the airdrop.
Related Reports
Insider Look into Ondo Finance: A RWA Protocol with Involvement from BlackRock and Morgan Stanley
Opinion: After Hitting US Treasury RWA, What Does Ondo Finance Need to Do Next?
2024 Crypto Startup Trends: RWA, DePIN, Infrastructure…