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1 Billion Tokens Airdrop on Solana: Everything You Need to Know

2 mins
Updated by Ryan James
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In Brief

  • Real estate crypto protocol Parcl will airdrop governance tokens to eligible recipients in April, after releasing tokenomics.
  • The amount invested in the Parcl protocol is $79 million, with $63.5 million in open interest in perpetual futures contracts.
  • Other protocols are also launching airdrops this year, even as Singapore police warn of increasing drainer kit airdrop scams.
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Today, the real estate Solana protocol Parcl Limited communicated news of its PRCL airdrop in April. The release follows other major announcements from Ethereum projects Pixels and Optimism.

Solana’s real estate protocol Parcl cements faith in the network with a planned airdrop to community members in April.

How Parcl Airdrop Will Work

Parcl will mint 1,000,000,000 tokens and send 7-8% of them to the community. About 10-12% of the tokens are in circulation currently.

The new token will grant holders decentralized app governance and access to real estate data. Holders will also be eligible for future incentive programs, while the Parcl Foundation will coordinate governance decisions. The Parcl team will unveil tokenomics in March.

In the meantime, Parcl assures those eligible for the airdrop that they will be informed through official channels. The actual airdrop event will take place on an undisclosed date in April.

Read more: Top Crypto Airdrops 2024

Parcl is a Solana protocol that gives access to global real estate indexes and offers perpetual futures margin trading. It also provides access to real-time real estate data in popular regions like New York, London, Paris, and Miami. The project secured funding from Dragonfly Capital and Coinbase Ventures.

The protocol has $78.6 million in total value locked and $63.5 million in open interest in its futures contracts. The trading volume for the past 24 hours was $234.2 million. This is despite Solana’s recent outages prompting crypto influencer Beanie to encourage boycotting the network.

“We gave Solana the benefit of the doubt a few years ago when it was routinely down. But I don’t see how the market can allow such incompetence to slide now. Send this brokeb centralized VC chain to zero with haste,” Beanie said.

Which Crypto Airdrops to Watch

In the meantime, other airdrops are also gearing up for a 2024 launch. Friend.tech, the social media platform incentivizing crypto influencer interactions, has hinted at an upcoming airdrop. Ethereum layer-two project Optimism will also conduct an airdrop of 10 million OP tokens.

Earlier this month, Web3 gaming project Pixels announced an airdrop for stakers of the RON token. The airdrop event will release 20 million PIXEL tokens in two tranches. Maximum rewards could reach up to 3,955 PIXEL per eligible wallet.

While airdrops can be lucrative, they can provide fertile ground for crypto scams. In Singapore, police recently warned the public about so-called drainer kits that criminals are peddling as a service on the darknet.

Read more: How To Identify a Scam Crypto Project

The kits send users to a phishing website for a supposed airdrop, where they are asked to authorize themselves and connect a crypto wallet, after which a smart contract tricks them into exposing their funds. The hackers then send the stolen crypto through a series of crypto mixers that obfuscate the trail of funds. BeInCrypto reached out to Parcl to inquire how they will secure recipients’ funds but had yet to hear back at press time.

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David Thomas
David Thomas graduated from the University of Kwa-Zulu Natal in Durban, South Africa, with an Honors degree in electronic engineering. He worked as an engineer for eight years, developing software for industrial processes at South African automation specialist Autotronix (Pty) Ltd., mining control systems for AngloGold Ashanti, and consumer products at Inhep Digital Security, a domestic security company wholly owned by Swedish conglomerate Assa Abloy. He has experience writing software in C,...
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