Parcl Updates

HOA x Parcl Protocol Rewards: How Eligible Users Can Claim Their Reward Tokens

September 9, 2022
5 mins
HOA x Parcl Protocol Rewards: How Eligible Users Can Claim Their Reward Tokens

Since the Homeowners Association NFT launched in April of 2022, thousands of passionate NFT holders from around the world have played an instrumental role in the success and growing momentum of the Parcl community, helping Parcl move several steps closer to bringing real estate to everyone.

Today is an exciting day as it marks the launch of Phase 1 of the Parcl Protocol referral program, where all HOA holders are eligible to participate by staking their HOAs and claiming a new ‘Referral Rewards Pilot’ SFT. This program will take community membership to the next level, and help educate many more new users on how they can begin building their global real estate portfolios.

Phase 1: HOA x Parcl Referral Pilot Program Launch

The first phase of the referral program launch allows HOA holders to stake their HOA to claim a new Referral Pilot Program SFT. The primary purpose of the Pilot SFT will be to identify the earliest participants in the Parcl Protocol referral rewards program. Of course, the HOA is the most obvious place to start! HOA holders get the first look at the referral program with this exclusive claim token.

These tokens will have utility within the referral program, most immediately allowing eligible users of the Parcl Protocol to claim Referral Program sign-up rewards in the form of Parcl Protocol site credits (more details soon) and make holders eligible for ongoing boosted referral rewards, among other perks.

Each HOA holder is eligible to claim the new token: one HOA NFT = one Referral Rewards Pilot Program SFT. These tokens are transferable; the Pilot Program SFT is verified for listing on Magic Eden & YAWWW, allowing holders to exchange Pilot tokens with other users, just like the HOA itself.

How to Participate

Stake your HOA via Cardinal & claim the Referral Rewards Pilot token

1. Head over to the Cardinal staking pool & connect your wallet

Parcl HOA Referral Program Step 1. Head to Cardinal.

2. Stake your HOA to become eligible to claim your Parcl x HOA Pilot Referral Rewards token

Staking locks up HOA tokens for a minimum of 8 weeks, but Pilot token claiming is available immediately upon opting into the staking program. The sooner you stake, the sooner you can claim the rewards token!

There is a small SOL fee for staking, the majority of which will unlock upon un-staking.

3. Claim your Parcl x HOA Pilot Referral Rewards token

The Pilot Token claim period is open for a limited time only; HOAs must be staked by October 31st to qualify for the Pilot token claim.

There is a small SOL network fee for claiming the token.

The official Parcl x HOA Referral Reward Pilot token address is: 

https://explorer.solana.com/address/hoaTeTMzDEE4RpTM5yTcLGEyriv73dsmkGBfEZe5tHe

*This is the official Referral Token Address. Please do not interact with any addresses that are not listed here

Phase 2: Referral Rewards Program Alpha Launch

The Referral Rewards Pilot token address will activate as a unique affiliate code, and eligible Referral Rewards Pilot token holders will be able to claim a one-time sign-up reward in the form of Parcl Protocol site credits at parcl.finance. Parcl Protocol users holding a Pilot token will also be eligible for boosted referral rewards in Phase 3 and beyond, among other benefits.

See the FAQ below for answers to some common questions.

Phase 3: Full Referral Rewards Program Beta Launch

Parcl is developing a pioneering, crypto-native referral program to reward Parcl Protocol users who commit to helping others build their global real estate portfolios. Stay tuned for more details soon!

Note: *Parcl reserves the right, in its sole discretion, to distribute Referral Reward Pilot Tokens. Parcl maintains the right to modify the Referral Rewards Program with or without notice at any time.

HOA Rewards FAQ

What is the Parcl x HOA Referral Reward Pilot token?

The Referral Reward Pilot token is a new SFT that is free to claim for all HOA holders who stake their HOA in the relevant Cardinal staking pool. Holding a Referral Reward Pilot token entitles the token holder to exclusive benefits within the Parcl Protocol Referral Program. These benefits may include sign-up rewards, boosted referral rewards, priority access to new product referrals, and much more.

The official Parcl x HOA Referral Reward Pilot token address is: 

https://explorer.solana.com/address/hoaTeTMzDEE4RpTM5yTcLGEyriv73dsmkGBfEZe5tHe

*This is the official Referral Token Address. Please do not interact with any addresses that are not listed here

Can I claim multiple Parcl x HOA Referral Reward Pilot tokens?

Yes! By staking on Cardinal, you can claim as many new tokens as you have existing HOA tokens.

Who is eligible to claim a Parcl x HOA Referral Reward Pilot token?

All HOA holders, as of the launch of Phase 1 are eligible to claim the new token. There is only one Pilot SFT claim per HOA NFT, however.

During the eight-week HOA staking window, any HOAs available for purchase on a third-party marketplace have yet to stake & claim their Referral Rewards Pilot token. To be sure, it’s always best practice to check the blockchain via Solana Explorer or Solscan.

Who will be eligible for Parcl Protocol referral rewards?

Users that meet certain participation and eligibility conditions will be able to participate in the referral rewards program.

As a reminder, at this time, the Parcl Protocol is not available to residents of jurisdictions where accessing or using the Parcl Protocol is prohibited (the "Prohibited Jurisdictions"). Residents of Prohibited Jurisdictions may not be able to participate in certain or all Referral Program initiatives at this time. For more information, please see the terms of use.

Am I able to trade my Parcl x HOA Referral Rewards Pilot token?

Yes! The pilot token is verified for marketplace trading on Magic Eden, and marketplace & P2P trading on YAWWW. You are able to trade your token or trade for another token on these third-party marketplaces. Pilot tokens previously claimed for sign-up rewards will not be listable during the claim window in Phase 2, however.

When will the Phase 1 staking pool close?

The staking pool is scheduled to close on October 31st 2022. Be sure to stake your HOA before that date to be eligible to claim the Referral Rewards Pilot token.

When will Phase 2 & 3 launch?

Phase 2 of the Referral Rewards program is targeted to launch within 10-14 days. Phase 3 is currently targeted to launch in early 4Q.

Notes

*Parcl reserves the right, in its sole discretion, to distribute Referral Reward Pilot Tokens. Parcl maintains the right to modify the Referral Rewards Program with or without notice at any time.

Terms

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.

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