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Solana’s Parcl reveals its token and up to 8% allocation for its airdrop

The RWA-based perpetual contract platform sits at $87 million in total value locked, being one of Solana’s biggest decentralized applications.

Solana’s Parcl reveals its token and up to 8% allocation for its airdrop

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Real-world asset (RWA) protocol Parcl announced this Monday the launch of its token, PARCL, with one billion of total circulating supply and 7% to 8% of it dedicated to “initial community supply.” PARCL will act as a governance tool, giving voting power to holders in certain aspects of the protocol, and will be distributed in April.

Moreover, the token will also have “data functionality”, serving as a gating mechanism for access to “high-quality real estate data”, and will be used in “future protocol incentive programs” as well. According to the announcement, more details about PARCL tokenomics will be released in March this year.

Parcl is a perpetual contracts platform built on Solana’s ecosystem, where users can long or short real-world real estate in different cities. For airdrop hunters, the platform’s token distribution is one of the most anticipated events. Since Parcl is not a straightforward platform like a decentralized exchange, less active wallets are interacting with it, raising the chances of bigger rewards.

Another fact making users hyped for the airdrop is the venture capital funds backing Parcl, with strong names such as Dragonfly Capital, Coinbase Ventures, and Not Boring. There’s no date yet for the eligibility checker, and users are not yet certain that a snapshot has already taken place.

Parcl is now the 12th largest decentralized application on Solana by total value locked, sitting at almost $87 million, after a leap of close to 87% over the last 30 days, data from DefiLlama shows.

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