Announcing Incentivized Parcl TestNet — March 2022
Earn rewards for testing our protocol
We are extremely excited to announce the Parcl Protocol dApp TestNet where early users can gain access to our NFT whitelist!
The Parcl TestNet is an opportunity for developers, crypto enthusiasts, and anyone looking to participate in the future of real estate investing to become an early part of the Parcl protocol & community. It allows users to stress-test the recently released features of the protocol & provide feedback to the core devs. The team places a very high value on the input gathered during the Testnet phase and early members will be rewarded for their participation.
The Parcl TestNet is launching on March 30th at 10 am EST and running through April 10th at 11:59 pm EST. Testnet participants that provide thoughtful, useful feedback will have an opportunity to earn a Whitelist spot for the Homeowners Association NFT among other benefits & rewards, where eligible.
We are calling on all community members to provide feedback and test our system so we can make it the best, most efficient product for our upcoming MainNet launch.
How to help and be rewarded:
1) Connect your Phantom wallet and complete at least three activities:
A) Buy a Parcl of a neighborhood of your choice
B) Mint a new Parcl
C) Pool the minted asset
Note: the more active you are on the protocol during the TestNet the higher your chances of being rewarded
2) After testing the protocol, please complete the following survey: Parcl Survey
What to expect next? Here is a framework for Parcl’s future roadmap:
Comprehensive Research Tool: View more information about each neighborhood to make more informed trades. Our data will pull relevant information such as median square footage, price trends, days on market, amenities, and more
News & Social: Relevant news and social information from each real estate neighborhood will populate so you can learn more about where you’re investing
US City Expansion: Continuing to expand Parcl’s US analytics capability, expanding our metropolitan area coverage to include cities nationwide
Parcl Original Real Estate/Geospatial R&D: Publishing timely, relevant real estate stats for public consumption, building on our best in class data infrastructure/capability
TestNet 2: Participate in our second TestNet and explore these new features, more functionality, and more Parcls to own
Token: Parcl plans to have a governance token which will play a role in powering the protocol
International Expansion: Expanding Parcl’s product offerings and real estate / geospatial tracking globally, starting with cities such as Paris, Mexico City, Singapore, etc. based on the availability of data that meets Parcl’s Price Feed standards
NFT Based Rewards: Use your Homeowners Association NFT to earn protocol benefits such as early access to liquidity pools and new markets, boosted rewards, and staking
Begin by navigating to the explore landing page: https://parcl.co/explore
If you already have a Phantom wallet, enter your password. If not, learn how to set up an account here: How To Set Up Your Phantom Wallet
You may need to fund the wallet if it is newly created. You can do this via Coinbase or any CEX — follow the instructions within the blog.
Now you can begin to explore available Parcl’s. Click into any of them to be taken to our ‘dApp’ within a new tab. This is what you will see:
If this is your first time using the app, you’ll need to add ‘USDC’. In the TestNet environment, this is a fake USDC. In order to ‘airdrop’ yourself fake USDC, head to the ‘Faucet’ tab. If you have not yet funded your Phantom wallet with SOL, you’ll need to first airdrop yourself ‘fake SOL’.
Click on the ‘USDC Airdrop’ button to your heart’s desire. It emits ‘USDC’ in 10,000 increments. Each time you request an airdrop, this Phantom transaction popup will appear:
From there, you can navigate back to the dApp “Trade” tab:
Now you select the ‘token’ of the neighborhood you want to trade. In this case, I wanted to trade Williamsburg.
In order to buy roughly one ‘square foot’ of Williamsburg, I input 1,310 USDC (at the time of writing). I can also click on the arrow in the middle to reverse the swap and input however many ‘square feet’ I want and the corresponding USDC will auto populate.
When ready, click Swap and another transaction approval window will appear from Phantom. Click ‘Approve’
If you ever want to see your balances, click here:
Out pops your Parcl balances:
For Advanced Users:
Minting & Liquidity Providing
You’ll head over to the ‘Borrow’ tab to participate in ‘minting’ or ‘liquidity providing’. This is the act of collateralizing a Parcl contract. FYI — this will make you synthetically short the underlying index. For example, this is the view I will see if I want to ‘mint’ (bring into existence) 1sq ft of Venice, CA:
Another Phantom pop up will appear. Click ‘Approve’
Once you’ve minted a Parcl, you’ll want to “Pool” it in the AMM in order to be eligible for a share of trading fees. Head over to the “Pool” tab within the dApp interface. From here, you will choose to pool the neighborhood you minted. In this case it was Venice, CA. In order to pool, you will need to add corresponding USDC liquidity. Approve the transaction that pops up via Phantom.
Repeat these processes as many times as you desire / until you’ve properly stressed our systems :)
What is Parcl?
Parcl is a seed-funded synthetic asset protocol that is on a mission to deliver real estate to everyone. The protocol allows for the creation of “Parcls” — smart contracts that are representative of the average price per square foot of real estate in a given geographical area. Through Parcl, users can trade their favorite neighborhoods just like they would trade Bitcoin, Ethereum, or other crypto assets. By creating a derivative platform for individuals (or institutions) to execute peer-to-contract trades, Parcl makes real estate investing faster, cheaper, and more liquid than ever before. Learn more
Originally published at https://www.parcl.co.