Parcl (PRCL) is a decentralised finance (DeFi) platform built on the Solana blockchain, which allows users to trade and gain exposure to real estate markets without physically owning property. Users can invest in synthetic assets, which track real estate prices based on city-specific indexes reflecting median property values per square foot or metre. This approach enables participants to speculate on property price movements with small amounts, starting from as little as $1.
The platform's native token, PRCL, has several key functions. Holders can use PRCL to participate in governance decisions, voting on important updates and changes to the Parcl protocol. Additionally, PRCL provides access to premium real estate market data through Parcl Labs, and it is also used within the ecosystem to reward active participation and engagement.