Investors have extracted over $74 million from the Parcl platform, a Solana-based venture for betting on real estate markets, subsequent to its airdrop event earlier in April. This move reflects a significant decline in user confidence after the airdrop of PRCL tokens, which were distributed to eligible participants on April 15, following a snapshot on April 3.
Starting just after the snapshot, Parcl's total value locked plummeted by 39.6% to $112.1 million, down from its peak of $185.6 million on April 2, according to DefiLlama.
Source Image: DefiLlama
Parcl allows users to forecast real estate market trends in major cities. Those partaking in the airdrop received a portion of the 80 million PRCL tokens, representing 8% of the total one billion tokens.
Post-airdrop, the price of PRCL tokens initially dropped from $0.62 to $0.45 and has somewhat recovered to approximately $0.55, as reported by CoinGecko.
This downturn is part of a larger market slide that includes Bitcoin, which has decreased by over 7% this week. Tokens newly released on the Solana network, including Wormhole’s W token and Tensor’s TNSR token, have faced significant losses, dropping 54% and 52.6% respectively since their launches on April 3.
The Solana network itself has depreciated by 30.7% this month, further troubled by congestion issues that led to a 75% transaction failure rate on April 5.
The AVAIL Claims Portal is now live. You can visit the Avail Claims Portal, agree to the Avail Mainnet Terms and Supplemental Airdrop Terms, and follow the claim process to verify your eligibility for the airdrop.
JinseFinanceDue to Blast's own profitability (~4% for ETH/WETH and ~5% for USDB), wallet balances will also increase over time, as will points earned in the ecosystem.
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