Outside Source
Solana users are gearing up for another airdrop as Parcl, a Real World Asset (RWA) protocol, is ready to launch its native token, PRCL.
On Monday, the protocol disclosed its plans to launch its native token, PARCL, with an initial circulating supply of one billion tokens. Between 7% and 8% of this supply will be allocated to the airdrop, and the tokenomics will be detailed in March.
Introducing PRCL
Coming in April, the PRCL Network Token symbolizes a primary step towards the progressive decentralization of the Parcl ecosystem.
Learn more below 🧵
— Parcl Limited (@ParclLimited) February 25, 2024
The PARCL token will function as a governance tool, enabling users to gain voting rights over the protocol’s trajectory. Moreover, the cryptocurrency will be integrated into the Parcl Labs API, allowing access to high-quality residential real estate data.
Parcl is currently the 12th largest DeFi protocol on the Solana ecosystem, boasting nearly $100 million in Total Value Locked (TVL). It’s backed by high-profile institutions and VC funds, with noteworthy investors such as Dragonfly Capital, Coinbase Ventures, and Not Boring.
Parcl Reveals Token Amid Solana Airdrop Frenzy
Parcl is one of the most active protocols in its category next to NFTs, which recently reached a massive milestone on Solana.
Points serve as a measure of user activity and can grant access to exclusive features or rewards. During potential airdrops, users with higher point counts typically take the bigger prize home due to their commitment to the network.
Protocols usually employ tiers to adjust token distribution volumes. For example, a DEX protocol will use a proxy tiering system, or “seasons,” with the final results being based on the top number of users in the given tiers following volume adjustment.
Parcl was included as a potential airdrop in our guide found here:
Airdrops on Solana: The Most Popular Protocols Without a Token
This article first appeared at CryptoPotato
