Parcl reveals token economics ahead of PRCL launch, allocates 75 million tokens to point holders
Posted: March 28, 2024 12:34 PM Updated: March 28, 2024 12:34 PM
Correction and fact check date: March 28, 2024, 12:34 p.m.
briefly
Parcl revealed its token economics ahead of the PRCL token launch, marking progress in ongoing decentralization efforts in the ecosystem.
Parcl (PRCL), a Solana-based perpetual exchange specializing in real estate synthesis, has opened up its token economics ahead of the launch of the PRCL token, marking a significant advance in ongoing decentralization efforts within the Parcl ecosystem.
According to the announcement, Parcl’s early adopters will receive a distribution of 75 million PRCL tokens, equivalent to 7.5% of the token supply. The distribution among Parcl Points holders is part of the Parcl Points trilogy initiative aimed at expanding the network and creating awareness of loyalty and consistency. At this time, no snapshots have been captured, no boosts have been implemented, and screening for ineligible activity is still ongoing.
The Core Community will be allocated 0.5% of the total PRCL supply. Additionally, 4 million PRCL tokens, equivalent to 0.40% of the supply, will be distributed to Home Owner Association (HOA) members. Allocation is tiered based on membership status. Diamond Hands refers to members who entered into HOA on December 16th and still maintain membership. Common refers to users who joined the HOA after the points program began. Other than maintaining ownership of the HOA assets in your wallet, no further action is required from the HOA community.
One million PRCL tokens, equivalent to 0.10% of the total token supply, will be allocated to eligible Mad Lads. To be eligible, Mad Lad holders must verify their holder status on the Parcl Discord. Holder snapshots are captured on April 4th. Verification instructions can be accessed within the Discord platform. By completing this course they will become part of a community of over 540 fellow boys.
Additionally, 28% of tokens will be reserved within the finance department to fund community initiatives, drive growth, and provide incentives. Another 28% is allocated to early supporters and advisors, and 21% is designated as core contributors. Additionally, 15% will be deposited into the Treasury to create an ecosystem fund.
Parcl Enhances Real Estate Transactions with Cross-Margin Perpetual Asset and PRCL Governance Token
Parcl supports cross-margin perpetual transactions across a variety of real estate markets. Meanwhile, liquidity providers provide liquidity to exchange-specific integrated liquidity pools while also earning trading fees while being responsible for trader profits and losses. Market index prices are derived from price feeds generated by Parcl Labs. The Parcl development team maintains the Pyth oracle to broadcast Parcl Labs price feeds to the blockchain.
The PRCL token plays a key role in governing certain elements of the protocol and decentralized trading applications. Users will stake tokens to vote on important protocol risk parameters and architectural adjustments. The governance framework is expected to be implemented in late Q2 2024.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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