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Solana DEX Parcl Airdrop Confirmed

Photo for the Article - Solana DEX Parcl Airdrop Confirmed

Parcl, a Solana-based perpetual exchange “designed for real estate synthetics,” is set to introduce $PRCL, Parcl Protocol’s native token, in April, developer Parcl Limited announced. 

Before 2023 ended, BitPinas ‌listed Parcl for projects on Solana with potential airdrops in 2024. 

Read: Ultimate Guide to Solana Airdrops 2024 – How to be Eligible

Also read: 24+ Potential Crypto Airdrops to Watch Out For in 2024

Parcl Airdrop

In a February 26 post on X, Parcl Limited confirmed that the Parcl Foundation will be tasked with distributing $PRCL and organizing and coordinating critical decisions governed by the token holders. 

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The airdrop rewards will be based on the points collected by participants. Parcl recently concluded its Points Season 1 campaign and is now currently on Season 2. Though no confirmation yet on how many rewards will be given per point, participants are advised to collect as many points as they could. 

How to Join Parcl Airdrop Points Season 2

To join the Points Season 2 campaign: 

  • Step 1: Go to https://app.parcl.co/points
  • Step 2: Choose the “Join the Points Program” button. 
  • Step 3: Connect wallet. Accepted wallets are Solflare and Ledger. 
  • Step 4: Do the tasks:
    • Depositing into LP Pool. (Four points per U.S. dollar) 
    • Opening trading positions. (Two points per U.S. dollar)
    • Referrals. (10% of the referred user’s points will be added to the referee.) 
  • Step 5: Regularly, or even daily, do the tasks as snapshots happen periodically. 

As of this writing, Parcl Limited did not disclose how many $PRCL will be distributed on the airdrop campaign in April, but the initial community supply will be seven to eight percent of the one billion total supply. 

This could mean that there would be around 70 million to 80 million $PRCL to be distributed on the upcoming airdrop. 

Why is Parcl launching a token?

Moreover, Parcl Limited expressed that one of the reasons that it is launching the protocol’s native token is to strengthen its decentralized nature:

“Parcl Limited is excited to announce the upcoming launch of the PRCL network token, which is the primary step towards the progressive decentralization of the Parcl ecosystem.”

Among the benefits of having $PRCL is participating in governance over certain aspects of the protocol and the dapps built on top of it. The other two “initial” use cases of the token are: 

  • Data functionality: The PRCL token will be integrated into the Parcl Labs API and used as a gating mechanism for access to high-quality residential real estate data
  • Further Protocol incentive programs: Eligible PRCL holders will have the ability to participate in Perpetual Network Incentives, which will commence shortly after the initial distribution event

What is Parcl?

Photo for the Article - Solana DEX Parcl Airdrop Confirmed

Parcl (https://www.parcl.co/) is known as a perpetual exchange designed for real estate synthetics on the Solana network. It claims to support cross -margin perps trading on various real estate markets. 

It also functions as a protocol, which is said to support many exchanges where each exchange has a single collateral and a single LP pool. 

The DEX also has risk management features that is expected to promote balance in each market by incentivizing traders to decrease skew and disincentivizing traders to increase skew. The core risk management features are funding, the margin system, and price impact.

“The protocol’s risk management features promote a delta neutral LP experience by creating incentives to decrease market skew and levying penalties on trader who increase market skew,” the developers explained. 

According to the team, they will release a “more detailed” airdrop and tokenomics information before the campaign will start. 

This article is published on BitPinas: Solana DEX Parcl Airdrop Confirmed

Disclaimer:

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