Solana Real Estate Protocol Parcl to Airdrop Token Tomorrow

Solana-based real estate trading protocol Parcl is gearing up to launch its PRCL token tomorrow after taking its final airdrop snapshot on April 8.

Early Parcl adopters will receive 75 million PRCL tokens, or 7.5% of the total supply, and an additional 5 million tokens are earmarked for the core Parcl community. The latter allocation is divided between Homeowners Association (HOA) members and eligible holders of Mad Lads, the top NFT collection on Solana.

The PRCL token has a pre-sale floor price of $1.23 on Whales Market, an OTC platform, giving the project a projected fully diluted valuation north of $1 billion.

Parcl is a decentralized exchange that offers perpetual futures for real estate markets. It offers exposure to Real World Assets (RWA), allowing users to go long or short on the supported locations, which include San Francisco, Chicago, Los Angeles, Pittsburgh, Denver, London, Miami Beach, and Solana Beach.

Tokenomics showcase that the 92% remaining PRCL tokens will be distributed among core contributors (21%), community, growth and incentives (36%), early supporters and advisers (28%), and an ecosystem fund (15%).

The project’s supply schedule shows the final tokens allocated to core contributors unlocking in 2028.

According to the project, its total value locked sits at $121 million, with total volume exceeding $1.3 billion. Several exchanges have announced they will be listing the PRCL token tomorrow, including OKX and Bybit.

Even though Parcl had tagged its airdrop for mid-April, it comes at a time of uncertainty in the markets, with geopolitics making investors uneasy. Additionally, recently airdropped tokens, such as Wormhole and Tensor, plummeted in the past week. The former is down 39% on the week, whereas TNSR has halved after launching at a $2 billion valuation on April 8.