The project ranks 12th in the Solana ecosystem in terms of total value locked

Solana-based real estate investment platform Parcl announces the launch of the PRCL token

26.02.2024 - 12:50

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3 min

What’s new? The team at Solana blockchain-based investment platform Parcl has announced the launch of the PRCL native token that will allow holders to participate in project governance and receive additional benefits. The asset will be launched in April this year, with a total offering of 1 billion PRCL. According to the initial allocation plan, the community will be allocated 7-8% of the total offering, with 10-12% going into circulation.

Source: Twitter.com

What else is known? PRCL will allow holders “governance over certain aspects” of the protocol and decentralized application (DApps), as well as access to real estate data. For example, PRCL will be integrated into Parcl Labs’ API, which will allow it to be used to manage access to market dynamics data. Also, qualifying asset holders will be able to participate in incentive programs that will be launched shortly after the initial distribution.

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ParclFoundation, a non-profit organization, has been launched to support the project and will handle, among other things, the coordination of the governance community. The team will publish detailed information about tokenomics in March.

Parcl Protocol is a decentralized real estate investment platform and automated market maker (AMM). It provides detailed real-time information on real estate prices around the world. Based on this, users can independently analyze market dynamics and generate appropriate returns using traditional financial methods such as buying and opening short positions. To trade real estate, users convert property rights into non-fungible tokens (NFTs).

Similar trading mechanisms are already in use around the world. For example, in 2022, real estate company Roofstock sold a house in South Carolina as an NFT for $175 000 in USDC stablecoins. At the same time, AGIA International announced the sale of luxury villas in the Bahamas as NFTs on the Ethereum blockchain.

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Last February, Parcl raised $4,1 million in a seed round of funding led by Archetype and with participation from Dragonfly Capital, ParaFi, Coinbase Ventures, and Solana Ventures.

Parcl Protocol’s total value locked (TVL) as of February 26 exceeds $75 million, ranking it 12th among all Solana-based projects by that measure, according to DeFiLlama.

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