Parcl Update: Post Testnet 1.0 & HOA Mint
What comes next for the Parcl Protocol and Homeowners Association
We are providing this update to our community and our stakeholders following Parcl’s Testnet and Homeowners Association (HOA) NFT launch — both of which substantially exceeded our expectations, as outlined in detail below. We are grateful for the support of both our long-standing backers & partners and our newest community members, and we are extremely excited to be embarking on this journey together with you. LFG!
Parcl Protocol Testnet
Our Testnet generated significant interest over the ten days it was live (3/30–4/9). Here are the highlights:
- >70K unique visitors to our Testnet
- >25K Typeform feedback submissions
- >300K on-chain transactions
The feedback we received from Testnet was overwhelmingly positive, which supports our view that the Parcl Protocol is addressing a unique and untapped market opportunity. Over the next several weeks, we will be iterating on our UI/UX and optimizing our smart contract design. The most significant update is our decision to launch to mainnet with concentrated liquidity.
We are currently implementing and integrating Orca’s Whirlpool program for the Parcl DEX. We believe concentrated liquidity makes the most sense for Parcl because, not unlike stablecoins, Parcl tokens should generally maintain a relatively consistent peg to underlying Parcl Price Feeds. Concentrated liquidity across ecosystems has proven to be a powerful tool for stable pairs because LPs can elect to allocate capital across specific price ranges, such as the relatively tight range around the desired peg price. Think of it as the thickest portion of a bell curve.
Furthermore, Parcl can utilize Orca’s built-in yield farming framework to incentivize price ranges around the oracle price to bolster LP incentives to further support the Price Feed peg.
We are very excited about the potential of concentrated liquidity as Parcl progresses towards the mainnet launch.