Introduction to PRCL
PRCL is a blockchain token launched by Parcl Limited, at the core of its decentralized real estate trading platform. The platform features a unique city index function that allows users to predict global real estate market price movements. Through these indexes, users can invest and speculate across different markets.
The latest version of the Parcl platform, Parcl V3, is a perpetual contract exchange designed specifically for real estate synthetics. This version supports cross-margin perpetual contract trading and is supported by liquidity providers (LPs) who add liquidity to a single LP pool for each exchange. This includes taking on traders' profits and losses, as well as earning transaction fees.
The PRCL token plays multiple roles within the Parcl ecosystem, including decentralized governance and enhancing platform usability. Holders can manage key aspects of the Parcl protocol by participating in governance and access high-quality real estate data through APIs provided by Parcl Labs. Additionally, the launch of Parcl V3 has further enhanced the platform's functionality, introducing full margin accounts and a unified LP pool, and strengthening protection measures for liquidity providers. These developments mark significant steps in Parcl's journey to build a decentralized real estate trading platform.
How Parcl's City Indexes Work
Parcl's city indexes reflect the aggregated value of all real estate within a specific city. These indexes allow users to trade not individual properties but the median price per square foot (or per square meter) that represents the city's property values. This way, users can diversify their investments across an entire city's real estate market, thereby reducing investment risks and increasing opportunities.
Parcl Limited's Establishment and Core Business
Parcl Limited was established in 2022 as a startup that digitizes real estate investments using Solana blockchain technology. The company's core business is to develop a decentralized real estate derivatives protocol based on the Solana network. Through this platform, users can invest in real estate using synthetic assets, Parcls, enjoying the benefits of the real estate market while avoiding the complexities and burdens associated with owning or trading physical assets.
Parcl's main goal is to create a liquidity market around the real estate market, allowing investors to flexibly invest in properties worldwide by purchasing price indexes that represent the price per square foot of actual properties. This model provides investors with more geographical choice and control than traditional real estate investment trusts (REITs), breaking the monopoly of market information and increasing profit opportunities for investors.
Additionally, Parcl is committed to expanding the market, continuously increasing investors' opportunities to access the real estate market through Real World Asset (RWA) indexes. Recently, Parcl also introduced additional tradable real estate indexes for major U.S. cities, including Austin, Texas, further enriching investors' options.
Parcl V3 Protocol Overview: An Innovative Real Estate Trading Platform
Parcl V3 is a decentralized perpetual contract exchange designed specifically for the real estate market, with its core feature supporting cross-margin perpetual contracts. This platform allows liquidity providers (LPs) to supply liquidity to a single LP pool for each exchange, taking on the profits and losses of traders, and earning transaction fees in the process. Additionally, market index prices are provided by Parcl Labs and are streamed on-chain through the Pyth oracle operated by the Parcl development team.
Users can participate in the Parcl V3 ecosystem in various ways, including staking for borrowing, over-the-counter lending, and referral commissions. These participation methods not only integrate users into the daily operations of Parcl V3 but also may yield airdrop rewards for holding specific tokens.
Parcl V3 introduces scalable liquidity provisioning, flexible governance, and risk management features that protect LPs and traders from excessive market imbalances. These new features and improvements are optimizations based on earlier versions, drawing inspiration from the Synthetix perpetual contracts design.
In Parcl V3, each exchange has a single collateral and a single LP pool. The counterparty for trades in the market is the LP pool associated with that exchange, with LPs underwriting and clearing all trades, collecting most of the trading fees, and acting as the exchange's insurance fund.
Risk management features promote a delta-neutral LP experience by creating incentives to reduce market skew and imposing penalties on traders who increase market skew. If risk management settings are insufficient to maintain market balance, governance adjusts the settings of the exchange and/or market.
Governance flexibility is reflected in the ability of the protocol administrator to configure exchange and market settings, which can be transitioned to a DAO. This allows the protocol administrator to adapt to changes in market conditions and user behavior.
Core features of risk management include funding costs, the margin system, and price impact. Funding is the cost of carrying a position based on the market's skew over time. The margin system sets higher initial margin requirements for trades that add more imbalance risk to the market. Each trade's fill price is an adjusted index price based on the marginal impact of the trade on market skew combined with the previous skew impact adjusted index price.
PRCL Token: Empowering a Decentralized Real Estate Trading Platform
The PRCL token plays a crucial role in the Parcl decentralized real estate trading platform, with its advantages and functions manifesting in several ways:
Facilitating Transactions in Real Estate Synthetics
PRCL is specifically designed for real estate synthetics, aiming to transform the trading of real estate synthetic assets through an innovative platform. This allows investors easy entry into the real estate market without the complexity and cost associated with direct engagement in physical assets.
Enhancing the Protocol's Usability
The application of the PRCL token extends beyond mere transactions. It also involves protocol governance, data access, and incentive points, providing users with more benefits and convenience while using the platform.
Driving Decentralized Governance
PRCL supports the platform's early adopters through an airdrop program, an important step toward implementing decentralized governance. This not only increases community member participation in governance but also advances the decentralization of the platform's governance structure.
Protecting Decentralized Characteristics
To preserve the decentralized nature of the platform, the distribution of PRCL tokens follows a linear model and imposes limits on top users. This strategy is designed to prevent excessive concentration of power, ensuring fairness and transparency in platform operations.
Official Links for PRCL
Website: https://www.parcl.co/
Twitter：https://twitter.com/parcl
Discord：https://discord.gg/parcl
Steps to Buy PRCL on LBank
Purchasing PRCL tokens on the cryptocurrency exchange platform LBank is straightforward. Here's a step-by-step guide:
1. Log into your account: Ensure you're registered and logged into your LBank account, then click the "Trade" option in the top menu bar to start the trading process.
2. Search for PRCL: Use the search function within the trading platform to find "PRCL", locate the trading pair, such as PRCL/USDT, and click to enter its dedicated page.
3. Place an order: In the PRCL/USDT trading page's spot trading area, enter the amount of PRCL you wish to buy. If you want to complete the purchase immediately at the current market price, select a market order and then click the "Buy" button.
4. Confirm the order: A confirmation window will pop up. After verifying the order details are correct, confirm to place your order. Once the transaction is successful, the purchased PRCL will automatically be deposited into your LBank spot wallet.