Solana-based real estate derivatives exchange “Parcl” announces airdrop, TVL exceeds $100 million

8 months ago 49

PRCL airdrop announced

The TVL (total deposit amount) of Parcl, a project based on the crypto asset (virtual currency) Solana (SOL), exceeded $100 million (approximately 15 billion yen) on the 28th.

JUST IN: @Parcl TVL breaks $100 million, gained over $25 million TVL since they announced the airdrop. pic.twitter.com/4mfcs9GhYU

— SolanaFloor | Powered by Step Finance (@SolanaFloor) February 27, 2024

They announced an airdrop of their own token PRCL and subsequently acquired an additional TVL of over $25 million (approximately 3.8 billion yen).

Parcl is a type of real-world asset (RWA) tokenization project and a decentralized real estate trading platform. It provides a city index that allows you to estimate price fluctuations in real estate markets around the world, and you can trade from as low as $1.

The city index represents the total value of real estate in a city. Instead of trading individual properties, traders trade an index that represents something like the median price per square foot.

According to Parcl, these structures allow traders to gain diversified exposure to the real estate market across a given city.

In 2022, Parcl raised $11.6 million (approximately 1.7 billion yen) from Dragonfly Capital, Coinbase Ventures, Solana Ventures, and others.

What is airdrop?

Free distribution of virtual currency (tokens). In many cases, the purpose is marketing, such as increasing awareness of virtual currencies. Airdrops may also be performed when a blockchain hard forks and a new virtual currency is created.

Virtual currency glossary

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Overview of PRCL

The total supply of PRCL is set at 1 billion tokens, with distribution scheduled to begin in April. The initial supply to the community will be 7-8% and can be used for governance, data capabilities (access to high-quality real estate data), points incentive programs, etc.

Parcl launched a points loyalty system in December 2023, which has successfully increased trading activity on the platform. In the future, we plan to use this point system to distribute PRCL tokens.

Although details regarding the airdrop of PRCL tokens have not yet been disclosed, it is said that increasing Parcl points before the airdrop will be advantageous.

Traders can earn points by depositing stablecoin USDC into Parcl's liquidity pool and trading on the platform. You can also increase your point earning rate by owning Parcl's Home Owner Association (HOA) NFT (non-fungible token).

Pyth Network also goes to Airdro with dApps

In the Solana-based project, Pyth Network, which provides financial market data oracles, announced on the 8th that it will conduct a second airdrop of PYTH tokens.

Distribution will be targeted at over 160 dApps (decentralized apps) that utilize Pyth Network's price data.

connection:
Solana-based Pyth Network announces second airdrop, this time distributed to dApps