Parcl: Airdrop Farming Guide by Skribr

Introduction

In the evolving landscape of cryptocurrency and blockchain technology, unique platforms emerge, offering novel opportunities. Parcl, a standout in this space, has garnered significant attention with its innovative approach to real estate trading and airdrop farming. This guide delves into Parcl’s essence, its functionalities, and how you can maximize its offerings.

What is Parcl?

Parcl stands as a trailblazer in the intersection of real estate and blockchain. It’s a noncustodial automated market maker (AMM) focused on perpetual synthetic assets, allowing users to trade on real estate market values globally without owning physical properties. This platform addresses the challenge of liquid trading in niche markets like real estate, using a unique architecture for solvency and capital efficiency.

Key features of Parcl include isolated pools for trading both long and short, zero credit risk with up to 10x leverage, and a liquidity providing model with a points system that will contribute to future airdrops.

Parcl has impressively raised $11.6 million over two rounds, with its Series A round on May 17, 2022, pulling in $7.5 million from leading investors like Fifth Wall, IA Ventures, and Archetype Ventures.

How to Provide Liquidity?

In Parcl’s ecosystem, liquidity is king, and it’s provided in USDC. This stablecoin choice adds a layer of stability to transactions. When you deposit USDC as liquidity, it’s locked for 30 days, creating a stable and reliable pool of funds for trading activities. This lock-up period is crucial for maintaining the liquidity pool’s integrity and ensuring the availability of funds for trades.

1. Open the side menu and click ‘Provide Liquidity’ to be taken to the Liquidity Providing page.
2. Input the desired amount of USDC you wish to deposit into the liquidity pool.
3. Once you are happy with the amount of USDC, click ‘confirm deposit’.
4. Make sure you click ‘Activate Points’ to ensure you are earning points.
5. This displays the amount of points you will earn per day for the amount of USDC you have provided as liquidity.

How to Open a Trade?

Trading on Parcl is designed to be intuitive and user-friendly. Choose from various real estate markets like Miami Beach, and decide whether to go long or short based on your market predictions. The trading process involves entering the amount of USDC you wish to trade and selecting your desired leverage, with options up to 10X currently available. Parcl’s low trading fees are a significant advantage, enabling users to build up their trading volume efficiently and maximize their potential for airdrop farming.

1. Open the side menu and click ‘Browse’ to be taken to the Trading section.
2. Select one of the markets to trade (in this example we will choose Miami Beach).

1. Before you can open a position you will be prompted to create an account. Click ‘Create Account’.

1. Create a name for your account.
2. Make sure you tick the boxes and that you have read and understand what it is telling you.
3. Once you are happy, click the ‘Create Account’ button.

Now you need to fund your account.

1. Connect your desired wallet. Your available USDC balance will be displayed.
2. Input the amount of USDC you wish to deposit (if you do not have any USDC in your wallet you can use Jupiter to get some *Using Jupiter will also qualify you for future $JUP airdrops).
3. Once you are happy, click the ‘Deposit’ button.

Once you have created your account you can start trading.

1. Select whether you wish to go ‘Long’ or ‘Short’.
2. Input the Amount of money you wish to spend and it will tell you the corresponding Size.
3. Make sure to confirm the trade details before continuing. Once you are happy, click ‘Fund Account’ to open your trade.
4. Don’t forget to click ‘Activate Points’ to ensure you are earning points for your trade.

Parcl Points Program

The Parcl Points Program is a cornerstone of the platform, designed to reward active participation. Users earn points through trading, providing liquidity, or engaging in the referral program. Each USDC in open interest or liquidity provision garners points on a daily basis.

• When you provide liquidity you earn +3 points per dollar per day.
• All trading positions will earn you +1 point per dollar per day.

The introduction of HOA NFTs is a game-changer in the points program, enhancing point accumulation significantly. With the first NFT offering a 20% boost and subsequent ones adding 5% each, these NFTs are crucial for those aiming to maximize their points.

1. Open the side menu and click ‘Points’ to be taken to the Points section.
2. Click ‘Join Points Program’ to sign up to start earning points.
3. Familiarize yourself with the points structure.
4. Click ‘Activate Points’ to ensure you are earning points.

Parcl Referral Program

The Parcl Referral Program is a key component of the Parcl Points Program, designed to expand the platform’s community and incentivize user engagement.

1. User Incentives: The program rewards users for inviting others to Parcl V3, enhancing the referrer’s earning potential through trading and LP’ing activities​​.
2. Earning Mechanism:
   • Referrers earn a significant 10% of the points earned by each user they refer. This system amplifies the referrer’s point accumulation on the platform​​.
   • Importantly, the points earned by a user remain entirely with them, even while contributing to the bonus for the referrer​​.
3. Benefits for Referred Users:
   • New users who join through a referral enjoy a permanent 5% boost on their points. This benefit enhances their rewards on Parcl indefinitely​​.

1. Open the side menu and click ‘Referrals’ to be taken to the Parcl Referral Program section.
2. If you have not done so, enter “skribr” as the referral code to receive the lifetime 5% points boost on all your points.
3. Create your own referral code to send to your friends. Remember for every user you refer, you will receive 10% of the points that they earn. This is a great way to boost your overall points!

The HOA NFTs (Homeowners Association) on Magic Eden is another great way to boost your points. Remember, the first NFT provides you with a 20% points boost and every NFT thereafter providing you with an additional 5%.

1. Current floor price.
2. 24 hour sales.
3. Total amount of NFTs listed for sale.

These NFTs are obviously in high demand. They have a high 24 hour volume, a low percentage of the supply listed and are currently valued at over $1,000 USD.

Maximizing Airdrop Farming

To optimize your airdrop farming on Parcl, a strategic approach is essential. Consistent trading, astute liquidity provision, and active participation in the referral program are key. The upcoming airdrop rewards active users, making every earned point a valuable asset. Given the limited supply and current market dynamics of HOA NFTs, acquiring and holding these NFTs could significantly boost your points tally and enhance your airdrop farming efficiency.

If you are using multiple wallets and you are only interested in farming points, one way to do so with very minimal risk is to Hedge. This means you can open a long position on Miami for example, and on another wallet open the same position but short. When you close both positions you should essentially break even minus any fees that were payable. And you earn twice the amount of points!

Conclusion

By leveraging Parcl’s unique features, including the innovative Points & Referral Program, users can immerse themselves in a dynamic trading environment. Understanding and utilizing these features will position users well for the anticipated airdrop rewards, marking Parcl as a compelling choice for those exploring synthetic asset trading and airdrop farming.

*Please note that nothing in this guide is to be interpreted as Financial Advice*