Solana user prepares for another big airdrop

Solana users are preparing for another airdrop as Parcl, a real-world asset (RWA) protocol, is set to launch its native token, PRCL.

On Monday, the protocol revealed its plans to launch its native token, PARCL, with an initial circulating supply of 1 billion tokens. Between 7% and 8% of this supply will be allocated to airdrop, with the token economics to be detailed in March.

Introducing the PRCL

Starting in April, the PRCL network token symbolizes a first 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, allowing users to gain voting rights over the protocol's trajectory. Additionally, 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 in the Solana ecosystem, with nearly $100 million in total value locked (TVL). It is backed by high-profile institutions and venture capital funds, with notable 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 along with NFTs, which recently reached a huge milestone on Solana.

Points serve as a measure of user activity and may grant access to exclusive features or rewards. During potential airdrops, users with the most points typically take home the top prize due to their commitment to the network.

Protocols often employ tiers to adjust token distribution volumes. For example, a DEX protocol will use a system of proxy levels, or “seasons,” and the final results will be based on the top number of users at the determined levels after volume adjustment.

Parcl was listed as a possible airdrop in our guide found here:

Solana Airdrops: Most Popular Tokenless Protocols

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