Parcl Protocol Unveils Second Community Airdrop, 6% of PRCL Token Supply to Be Distributed

Parcl protocol has officially launched its second community allocation of $PRCL tokens, commencing the distribution process for the Perpetual Points Program (PPP) Season 1 rewards. 

This latest airdrop will allocate more than 6% of the total PRCL supply, complementing the initial 8% distributed previously. The claim page for PPP Season 1 will go live on July 15th, 2024.

The total allocation of 60,000,000 $PRCL will be divided into two segments: 40,000,000 $PRCL will be distributed linearly to users with over 50,000 points, and 20,000,000 $PRCL will be reserved for Parcl traders.

The $PRCL token currently trades at $0.18 with a fully diluted valuation (FDV) of $181 million.

According to details shared by Parcl protocol, The distribution introduces a new vesting mechanism to promote token price stability. Participants can accelerate their vesting schedules by staking more $PRCL. Three vesting schedules are available, ranging from 90 days for those taking over 50% of their allocation to 180 days for those taking less than 50%.

Staking Now Live

Staking is now live on the Parcl Points page, allowing users to view their allocations and start staking. An initial snapshot to determine vesting schedules will be taken on July 11th. Staking offers additional benefits, including PPP Season 2 boosts, governance rights, and Parcl Labs data API access.

This second airdrop coincides with the launch of the second season of the Parcl Perpetual Points (PPP) program. This program, expected to continue throughout 2024, offers incentives for generating trade volume, providing liquidity, and executing liquidations on other traders' positions.

The previous incentive program, the Points Trilogy, concluded its third season on April 1st, followed by the 1st distribution airdrop. The program reportedly garnered over 200,000 participants and significantly contributed to the growth of the Parcl ecosystem, boosting key metrics such as total value locked (TVL) and trading volume.

The Parcl Protocol is a decentralized exchange primarily focused on real estate, aiming to establish a liquid market for the world's largest asset class. Launched in 2023, Parcl's V3 exchange has facilitated the trading of over 4 million square feet of notional real estate exposure within nine months, equivalent to approximately 3,000 physical properties. This trading activity has resulted in a total notional volume surpassing $2.1 billion.