Parcl, a decentralized real estate project based on the Solana blockchain network has announced the launch of its native PRCL tokens. Parcl confirmed that the user-earned points given for interacting with the real estate protocol shall be converted to PRCL tokens.

$PRCL is now live.

Early Parcl Ecosystem adopters & core community members have until December 31st, 2024, to claim.

Further details

— Parcl Limited (@ParclLimited) April 16, 2024

About the Parcl Blockchain Network

The Solana-powered platform enables users to engage in trading activities linked to specific real estate markets, offering leverage of up to 10 times the invested amount.

Utilizing its proprietary data feed, the platform monitors changes in residential property prices per square foot across designated markets. This data is integrated into smart contracts, facilitating speculative trades on real estate price fluctuations.

Participants, including traders and liquidity providers, accrue points on the Parcl platform through their activities. These points are typically distributed before an airdrop and subsequently converted into PRCL  tradable tokens.

Parcl relies on liquidity providers to deposit USDC stablecoin, which allows other users to engage in leveraged trading or amplify their trade sizes using borrowed funds.

Leveraged trading on Parcl is possible due to the USDC deposits from liquidity providers. In exchange for providing liquidity, users receive 70% of the trading fees generated on the platform. In essence, liquidity providers function akin to traditional banks, facilitating leveraged trading activities.

More Details About PRCL Tokens

PRCL serves as the foundational element in the decentralization of the Parcl Ecosystem.

The platform has indexed thousands of real-world real estate markets, with its decentralized exchange (DEX) facilitating over $1.35 billion in trade volume.

Holders of PRCL tokens gain governance privileges over specific aspects of the Parcl Protocol and enjoy enhanced utility in data and trading functionalities, along with incentives within the Protocol Ecosystem.

In the initial community distribution phase:

80,000,000 PRCL tokens (8% of the total supply) will be allocated on Day 1 to early adopters of the Parcl Protocol and core community members who have played pivotal roles in bootstrapping the Ecosystem.
75,000,000 tokens (7.5% of supply) will be distributed to additional early adopters of the Parcl Protocol.
5,000,000 tokens (0.5% of supply) will be granted to core Parcl community members.

Furthermore, 28% of the total supply will be reserved in the treasury for vital protocol objectives, including infrastructure development, growth initiatives, partnerships, and ongoing network incentives, facilitating scalability.

Another 28% of the supply will be allocated to early supporters and advisors who have contributed significantly to the growth of the Parcl Ecosystem over the past three years. These tokens will vest and unlock over a three-year period, with a one-year cliff period.

Furthermore, top crypto exchange likeOKX and KuCoin have announced to list PRCL token and allow trading.

The post Solana-based Liquid Real Estate Project Parcl Unveils Native PRCL tokens appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am