Parcl July Update: Highlights & Roadmap Refresh

As we enter the 2nd half of 2022, we wanted to take an opportunity to share some key updates from Parcl and the Homeowners Association. 

In this blog post we’ll cover updates on:

• Testnet 2.0
• The Homeowners Association & Suh Family Foundation Home Giveaway
• NFT NYC
• HOA merch store
• Testnet 3.0
• Mainnet launch

As well as a few other important updates on the road ahead for July, August and beyond. Let’s go!

Recent Events & Highlights 

May

Parcl Protocol Testnet 2.0 

The first Parcl Testnet took place from March 30th until April 10th. Our community left an abundance of feedback, and we read through all of it. Since the end of the Testnet, the Parcl devs have made many of the changes you wanted to see. Additionally, our team has grown significantly since then, and we’ve never been in a better position to deliver real estate to everyone.

The largest improvement made to Parcl protocol functionality is the ability to provide concentrated liquidity. Curious to learn more about concentrated liquidity? Check out our blog. Concentrated liquidity functionality was implemented in our 2nd Testnet - Parcl Testnet 2.0 - which took place at the end of May. 

We're very excited with the amount of activity and feedback we received both during and following the conclusion of Testnet 2.0. Here are some high-level statistics around Testnet 2.0 participation:

• 30,000+ unique users;
• Over 60,000 on-chain devnet transactions; 
• 16,000+ feedback forms.

June

Parcl Protocol Testnet v3 

We’re incredibly excited to share that the Parcl Testnet 3.0 is live! Testnet 3.0 opened on Monday June 27th, and runs through today Friday, July 1st, 5:00 PM EST. 

Testnet 3.0 is the final leg of our preparations, before our Mainnet launch that will be happening towards the end of July. 

If you’ve participated in Testnet 1.0 or Testnet 2.0 you’ll notice a very similar experience across the board. That said, we have made several major improvements since the conclusion of Testnet 2.0 

Parcl Testnet 3.0 features ‍ 

While the Parcl team has made improvements across the entire user experience since Testnet 2.0, there are a few key improvements we want to highlight. 

• Live production price feed data 🧮
• Ability to invest in Cities in addition to neighborhoods 🏙️ 🏠
• Peg stability module 💪
• Borrowing UI/UX refresh and enhancements 🌼

Please check out our guide to learn more about Testnet 3.0 and how to participate.

Homeowners Association & Suh Family Foundation Home Giveaway

In June we hosted the Homeowners Association & Suh Family Foundation Home Giveaway contest. We partnered with the Suh Family Foundation to provide one lucky winner with a down payment on a home,  plus a full year’s worth of mortgage and tax payments (equivalent housing costs), worth up to $100,000. 

Contest entrants were asked to make a TikTok video explaining why owning a home was important to them and include the #ParclHomeGiveaway hashtag. With 1,874 submissions, it was a clear hit.

Upon conclusion of the contest, the HOA team worked alongside the Suh Family Foundation to select five of the best submissions and then asked our community to vote for which submission they felt was most deserving of the grand prize. Over 1,250 votes were registered from the community.

Below are the five finalists, ranked in order of which received the most community votes:

• 1. @robingeffen: TikTok submission here
• 2. @dcolaaaa: TikTok submission here
• 3. @sahpmcg: TikTok submission here
• 4. @biancajmalone: TikTok submission here
• 5. @weezyjessbaby: TikTok submission here

We’d like to thank everyone who participated in the Home Giveaway submission period. We are finalizing legal processes with the folks associated with the top voted submission and, alongside the Suh Family Foundation, we expect to make a formal announcement across all social channels in the coming days.

Parcl @ NFT NYC 

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Last week, we hosted our very first IRL Homeowners Association event @ NFT NYC: Parcl HOA Tacos & Chill. We knew that after several long days of networking and making new friends in the city, our community needed to be well fed & energized. So, we sent out the PARCL TACO TRUCK!

We gave out free tacos & Homeowners Association merchandise to all of our HOA NFT holders in attendance. Thank you to everyone who came by. We had so much fun meeting you! 

Check out some highlights & photos below:

Merch store for NFT holders (opening next week!)

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We’re extremely excited to share that we have partnered with a luxury design agency to create custom merchandise for HOA holders. The collection features 4 exclusive hats representing each of the iconic HOA city locations: New York, Los Angeles, Miami, Phoenix – as well as a Parcl x HOA T-Shirt, and more!

Each community member who has a Solana based wallet that holds at least one HOA NFT is eligible to receive a 100% discount on one HOA Hat and one HOA Tee from the merch store.

HOA whales (Moguls & Tycoons) will be eligible for 100% discounts on both of the above items, as well as 100% discounts on one Parcl branded Nike Hat and one high-end Parcl Hoodie!

This first collection drop will be a limited run, so be sure to claim your merch before it runs out! 

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To claim your merchandise, be sure to have at least 1 HOA in your Solana-based wallet. Stay tuned for a Discord announcement next week for the live merch store link & further details.

The Road Ahead for Parcl & the Homeowners Association 

Homeowners Association Rent Giveaway update

Over the past few months, the HOA team has heard all sorts of feedback from the community. Specifically, the team received a substantial amount of feedback around our Home & Rent giveaway initiatives. While the community was broadly excited about these contests, it became clear that there were unfortunately too many restrictions around the giveaways - many HOA holders appeared ineligible given relevant restrictions.

Given this response, the HOA team is planning to present an alternative that would likely be appreciated by a much wider percentage of HOA holders. This new proposal would take place around Mainnet launch and help HOA holders to be among the first to participate in Mainnet activities (in addition to other roadmap items, such as protocol collaboration).

We plan to put this proposed change to a community vote in our discord channel as soon as possible. Stay tuned for more details!

Official Mainnet Launch

July is a busy month for us at Parcl! Not only are we wrapping up Parcl Testnet 3.0, announcing the Home Giveaway contest winner, and pushing our merch site live, we're also aiming to release Parcl Mainnet in late July. 

Mainnet will be our official launch of the Parcl Protocol, where eligible users can swap USDC for real, live Parcl’s, and start building their global real estate portfolios. No more Testnet tokens! 

The Mainnet launch has been a long time coming, but we couldn't be more excited to share it with the Parcl community. We'll be sharing more specific details about Mainnet in the coming weeks. 

‍Mainnet Launch Parties

Portals

A few months ago, we held a community vote around a proposal to devote a small portion of Homeowner Association NFT community funds to purchase a Portals Ivory Card and build our own space (home). This vote passed with a convincing ‘yes’. Since then, we have 1) purchased a Portals Ivory card, 2) have been doing lots of R&D work in the background to build out our space, and 3) have been touching base with the Portals team to incorporate some super cool features & functionality. 

All that said, we know many in the community have been wondering, wen Portals? 

We’re excited to announce that we will be hosting a mainnet launch party in our Parcl Portals space around our mainnet launch. We can’t wait to celebrate in a way that will be accessible by everyone in our community! 

Here’s a small teaser below! 

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IRL Launch Party (fall/winter 2022): HOA holders will be offered VIP access, and we are working on functionality such that those that cannot attend would be able to ‘lend’ out their HOA token access to folks that can. Stay tuned for more details.

August and Beyond (Parcl Summer)

New Parcl Protocol Markets

• U.S.: Expanding Parcl coverage to more U.S. cities and neighborhoods. Parcl Labs is focused on populous, popular areas - think of the cities & regions with major sports franchises (NFL Cities)
• International: Expanding Parcl’s product offerings and real estate / geospatial tracking globally, starting with cities such as Paris, Mexico City, and Singapore, among several others. The introduction of additional markets is contingent on the availability of data that meets Parcl’s stringent, thorough & institutional-grade Price Feed standards.

Parcl Protocol Collaboration

We are planning to gate future Parcl protocol liquidity pools for the most devoted Parcl community members; eligible HOA NFT holders may be offered early access to certain new Parcl pools for a specific period of time.

• Early access to new markets, incorporating region and rarity traits.
• Early access to minting & liquidity pools.

Staking

The most consistent feedback received in the Parcl discord and across social channels is ‘wen staking?’ Your feed back has been heard loud & clear. On the other hand, the HOA team has reviewed countless examples of ‘staking’ implementations from other projects (NFT & DeFi). Most of these implementations are fairly generic (lock up token contract, receive arbitrary ‘reward’) and it is unclear that many of them add substantial long term value to a project. In some cases such programs may even destroy long term value. 

That being said, the HOA team continues to explore legally & operationally feasible ‘staking’ implementations for eligible HOA NFT holders. Please sit tight as the R&D process continues. Assuming all goes to plan, the HOA team is hoping to begin rolling out some of this functionality in the late 3Q timeframe.

Global HOA collection

HOA holders will become eligible for our upcoming Global HOA collection, which will coincide with our introduction of certain new Parcl markets from around the world (mid/late-2H22 time frame).

• HOA holders will receive rights to an allow list (free mint) for the Global HOA.
• Unclaimed allow list allocations would return to a public sale pool.

Parcl & HOA Roadmap

Shared content and posted charts are intended to be used for informational and educational purposes only. Parcl does not offer, and this information shall not be understood or construed as, financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. Parcl does not accept liability for any financial loss or damages. For more information please see the terms of use.