What's Next for Parcl: The Future of the HOA and Protocol
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Chapter 1: Introduction to Parcl and HOA Updates
This update aims to inform our community and stakeholders about the latest developments following the successful launch of Parcl's Testnet and Homeowners Association (HOA) NFTs. Both initiatives surpassed our expectations, and we appreciate the backing of our established supporters as well as our newest members. We are thrilled to embark on this journey with all of you. Let's go!
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Section 1.1: Testnet Outcomes and Insights
The Parcl Testnet generated considerable interest during its ten-day operation (from March 30 to April 9). Key statistics include:
- Over 70,000 unique visitors to the Testnet
- More than 25,000 feedback submissions via Typeform
- 300,000 on-chain transactions
The overwhelmingly positive feedback reinforces our belief that the Parcl Protocol is tapping into a unique market opportunity. In the coming weeks, we will enhance our user interface and optimize our smart contract design. A significant update is our decision to launch on the mainnet with concentrated liquidity.
We are currently integrating Orca's Whirlpool program into the Parcl DEX. Concentrated liquidity is particularly beneficial for Parcl, as it allows Parcl tokens to maintain a consistent peg to underlying price feeds. By enabling liquidity providers to allocate capital across specific price ranges, we can create a more effective trading environment.
Moreover, we plan to leverage Orca's yield farming framework to incentivize liquidity providers around the oracle price, thereby supporting the stability of our price feeds.
We are enthusiastic about the potential of concentrated liquidity as we approach the mainnet launch.
Section 1.2: HOA NFT Launch and Future Roadmap
Following the Testnet, we introduced our Homeowners Association NFT Collection to enhance awareness of Parcl and engage our community. This initiative aimed to recognize our earliest supporters and reward their participation in the protocol's testing phase.
The HOA consists of 7,777 unique NFTs that embody distinctive architectural styles from launch markets such as Miami, Phoenix, Los Angeles, and New York City. We are connecting individuals interested in real estate, NFTs, and cryptocurrency.
The collection sold out within 30 minutes on the Magic Eden Launchpad and achieved the highest trading volume in the Solana NFT ecosystem on launch day. As of now, the HOA has generated a cumulative aftermarket trading volume of 14,000 SOL, exceeding $1.4 million. This is an impressive start, but even more exciting developments lie ahead.
Near-Term Expectations (Today to Mainnet Launch)
- Engaging with the Parcl Mission:
- A significant portion of mint proceeds will be allocated to a real estate-related charitable initiative.
- HOA Treasurer, Ndamukong Suh, will assist in fund allocation based on community feedback.
- Remaining mint proceeds and royalties will contribute to an HOA community fund, which will be redistributed to the community periodically.
- Exclusive Benefits for HOA Holders:
- Eligibility for a whitelist for the upcoming International HOA collection.
- Free merchandise drops and access to an online storefront for NFT holders.
- VIP access to our in-real-life launch party in June.
- Continuous replenishment of our HOA NFT Treasury for various community initiatives.
Medium-Term Goals (June - Q3)
The medium-term utility of the HOA NFTs will center around their integration into Parcl’s core DeFi offerings, particularly with the upcoming mainnet launch. We are considering various incentive structures, including enhanced rewards for NFT holders and potential staking options to encourage long-term community engagement.
We are eager to gather community feedback on these preliminary ideas, so please share your thoughts via Discord, Twitter, and our AMAs.
Section 1.3: Charitable Commitment and Community Fund
Charitable Initiatives:
We are committed to returning all HOA mint proceeds to the community. This includes a substantial portion directed towards a real estate-related charitable giveaway. Our partnership with HOA Treasurer Ndamukong Suh will help facilitate this mission.
Community Fund:
The remaining mint proceeds and royalties will be pooled into a community fund for various initiatives, such as community treasure hunts, contests, and charitable efforts. We aim to maintain transparency regarding the status and use of these funds.
Chapter 2: Parcl's 2022 Roadmap
In this video, we explore the key milestones and objectives in Parcl's 2022 roadmap, including city expansions, protocol improvements, and future NFT collections.
This video features a discussion with Attorney Adam Pugh on the HOME Initiative and the implications of deed restrictions, providing valuable insights for HOA members.
Rarity Properties & Distribution
Parcl is a synthetic asset protocol based on Solana, aiming to democratize real estate investment. By creating tokens that represent the median price per square foot of residential properties, users can trade neighborhoods similarly to cryptocurrencies.
Through Parcl, trading real estate becomes quicker, cheaper, and more accessible.
Understanding the Homeowners Association
Typically, Homeowners Associations (HOAs) face criticism, but Parcl's HOA aims to redefine this perception. Our HOA connects individuals interested in real estate, NFTs, and crypto, offering unique benefits such as early access to the Parcl protocol, staking rewards, and participation in charitable initiatives.
The HOA pre-mint began on April 11, 2021, with over 2,000 members securing their NFTs within the first 24 hours. The public mint sold out in just over thirty minutes!
Additional Resources
- Parcl: www.parcl.co
- Rarity: http://howrare.is/