TVL exceeds $75 million, with an increase of over 3 times this year. How to obtain potential airdrop opportunities from the RWA platform Parcl?
Parcl has built a regional real estate price index trading product.Original | Odaily Planet Daily
Author | Fu He
Since last year, RWA (Real World Assets) has become a popular sector in Web3. Some projects are continuously exploring ways to bring more assets into the crypto world, such as real estate.
One of the projects recently noted by Odaily Planet Daily is Parcl. Unlike other single real estate tokenization projects, Parcl has built a regional real estate price index trading product, which has currently expanded to 10 regions (mainly U.S. cities), with plans to launch real estate index products in cities like Hong Kong, London, and Jakarta in the future.
Recently, the official announcement stated that the token PRCL will be launched in April this year. With expectations of a potential airdrop, the TVL continues to soar, currently exceeding $75 million, more than tripling since the beginning of the year. To obtain potential airdrop opportunities, Odaily Planet Daily has summarized some methods.
Project Overview
Parcl is a decentralized real estate index derivatives platform based on the Solana public chain.
Parcl's real estate index is similar to traditional financial REITs (Real Estate Investment Trusts), but Parcl does not directly tokenize already mature REIT products. Instead, it calculates data points collected by Parcl Labs for a specific city area to create a current real estate market price index, which is transmitted on-chain by the Parcl development team through the Pyth oracle. Odaily Note: Parcl Labs Price Data Source (PLPF) provides daily estimates of residential real estate prices per square foot across multiple markets and property types.
Parcl operates on the V3 protocol version, which expands liquidity issues compared to previous versions, introduces decentralized governance, and protects LPs (liquidity providers) and traders from excessive market imbalance risk control features. Essentially, there is no significant difference in user experience compared to previous versions.
According to the product page, there are a total of 10 tradable real estate market indices on Parcl, primarily in U.S. urban areas. However, cities like Hong Kong, London, and Jakarta will be launched soon.
Currently, there are no other restrictions on trading Parcl, and it can be traded for amounts above 1 USDT. However, based on observations of the index in each region, the volatility is relatively low, with the data showing a 10x leverage fluctuation rate over three months. Therefore, Parcl is more suitable for large investors seeking diverse asset returns, while ordinary investors may be accustomed to the high volatility of the crypto market and may prefer traditional financial markets for long-term and relatively stable assets.
According to DeFiLlama data, Parcl's TVL is $75.44 million, having increased more than three times since the beginning of the year. With the upcoming airdrop, the increase in the project's LPs and traders may be a core reason for the growth of Parcl's TVL.
Predicting Parcl Airdrop Standards, NFT Holders May Have a Chance to Receive Airdrops
According to official news, Parcl will launch the token PRCL in April this year, with a total supply of 1 billion tokens and an initial community supply of 7%-8%. The uses of the PRCL token can be summarized as follows:
Data Function: The PRCL token is integrated into the Parcl Labs API as an access mechanism for obtaining high-quality residential real estate data.
Further Protocol Incentive Programs: Eligible PRCL holders will have the opportunity to participate in Perpetual Network Incentives (e.g., points), which will be launched shortly after the initial distribution event.
Details of other token economics will be officially disclosed in March this year, and Odaily will continue to monitor.
To obtain potential airdrop opportunities, the author has researched the development history of the Parcl project and identified the following possible airdrop criteria.
Points Activities Held by Parcl: Currently in the second quarter, this points activity uses three criteria: LP providers earn 4 points per dollar; traders earn 2 points per dollar (calculated at the time of opening a position); inviting new users (new users earn 10% of points). According to the data, nearly 150,000 people are currently participating in this activity.
NFT Holders: Parcl issued the "Homeowners Association" in May 2022 at a price of 0.5 SOL, but it fell below the issuance price in less than six months; influenced by airdrop expectations, the price rose to 15 SOL by the end of 2023, and currently, there are no sales on Opensea.
Conclusion
Parcl is different from other RWA real estate projects, especially considering the technical details of the real estate market index developed by Parcl Labs. The team is quite professional, with many members coming from Microsoft and well-known financial institutions; the project's design is also innovative, using a self-developed index as the basis for a derivatives trading platform, unlike other projects that directly tokenize traditional financial assets. Parcl has no entry restrictions, allowing most Web3 users to participate directly (except in the U.S.), which facilitates easier expansion.
Although there are no restrictions on entry, limited returns may become one of the limiting factors for its expansion. Due to the inherent nature of real estate, market fluctuations are lower compared to the crypto market, making it more suitable for stable investors familiar with real estate, while the trading enthusiasm of Web3 users may be hindered.
Additionally, according to the token economic model released by Parcl, the initial supply accounts for only 7%-8%, which may reward some tokens to users who participate in trading or adding LP, attracting more users to participate and continuously driving traffic.
In summary, the fundamentals of the Parcl project are solid, and its future development will depend on the token strategy after the airdrop.
