Parcl Protocol v2: Rebuilt for a better trading experience.
As the final days of Parcl v1 come to an end, we want to take this time to reflect on the accomplishments and outlook for the future. We are so incredibly thankful for everyone who used the V1 protocol and provided extremely beneficial feedback.
A recap of Parcl v1:
- The first ever synthetic real estate derivative exchange protocol
- 240,000 USDC transacted
- 5,000 wallet connects
- 1,200 swaps
- Visitors from over 157 countries! (We’re truly global) Shout out: India, United Kingdom, Canada, Nigeria and Indonesia
Reminder: V1 will shut down on December 19th 2022
Parcl v2 takes it to the next level.
Parcl Protocol v2 is a first of its kind blockchain real estate investment protocol. It acts as a perpetual prediction market that clears at available resources; think of it as perpetual futures on an AMM. It features several critical enhancements and is a novel on-chain product that is scalable to billions of users.
Following v1 we wanted to address some critical enhancements to improve the trading experience for all of our users in v2:
Peg price stability: All positions are opened and closed at the current price of a pool’s oracle price feed and leverage on price movements is offered up to 10x.
Solvency: An accounting model ensures that positions ultimately clear into collateral at available resources in the pool as opposed to a dollar for dollar accounting model. Each pool uses a unique exchange rate between collateral and liquidity tokens to handle trader PnL accounting as well as liquidity provision.
Zero credit risk: Since there is no borrowing or margin account concept, there is no credit risk. The pool is compensated for trader risk, with or without leverage, in long-short funding among other mechanisms.
Liquidity providers are optional: The pool’s exchange rate acts as the proxy for an insurance fund or similar backstop. Liquidity token holders implicitly earn reinvested trading fees and take on the other side of net aggregate trader profit and loss. Liquidity tokens are redeemed for collateral at the current exchange rate.
Note: Full whitepaper coming soon
In addition to the structural changes, we’ve invested a lot in improving the UI/UX to overall to make going long or short on real estate accessible to everyone.
Parcl Protocol V2 Features:
Simple two-way trading: Buy or short real estate markets depending on how you think the market will move.
Global Discovery: Explore the world’s most desired cities around the world with an interactive map. Sort markets by price trends, top gainers, or geographical locations.
Local Insights: Leverage data and market insights from trusted real estate data providers to make smarter trades.
Portfolio Management: Track your investment performance at a glance with a detailed breakdown of each of your investments.
Simplified LP’ing: Comfortably provide liquidity to pools with a neutral position to earn fees on trades.
[Advanced Feature] 10x Leverage: Increase your buying power up to 10x with mathematical leverage.
Homeowners Association NFT holders get early access to v2
Invite friends to join the waitlist to move up the list. The more friends you add the higher on the list you’ll go. The top 50 ranked referrers will receive an Homeowners Association NFT, granting them early access to the Parcl v2 protocol!
If you’re not in the top 50, we’ve got something for you too!
We will be opening the waitlist to new users in the order they are on the list.
(More details to follow.)