Q4 is upon us, and Parcl could not be more excited for the months ahead.
In an effort to keep the Parcl community up to date and share more on the latest developments, Parcl recently kicked off the very first monthly town hall.
You can catch the entire town hall AMA recap here.
In case you were not able to tune in… here are some of the major updates the Parcl community should know.
Transition from v1 to v2
Parcl recently announced that it will be transitioning from a v1 protocol to a v2 in the upcoming months.
Be sure to check out Parcl’s next chapter: Transition from v1 to v2 (coming soon) to learn more about this decision and what it means for the next chapter of Parcl.
Additionally, if you’re a current Parcl Protocol user, you’ll definitely want to know what steps you’ll need to take during this transition phase.
Why the transition to v2?
While there are many reasons v2 is the logical next step for Parcl, the transition is the result of incredible feedback from the community to help make the Parcl Protocol even better. Parcl believes v2 will allow broader participation, capital efficiency, native shorting, and leverage and that’s just scratching the surface.
What to expect with Parcl Protocol v2
v2 is in active development, and audits will begin during the month of October. v2 helps bring us closer to reaching Parcl’s goal of bringing real estate exposure to everyone, most notably, v2 will be laser focused on capital efficiency, something many traders and investors value highly.
In addition, v2 will place a focus on the ability to long and short real estate prices giving additional flexibility to users looking for exposure to real estate.
Parcl is incredibly grateful for the wider DeFi ecosystem as a whole, and there are many exciting developments regarding AMA and the future of decentralized finance.
Parcl will be winding down the v1 Protocol over the course of Q4 (be sure to follow Parcl on Twitter as well as join the Parcl Discord for more updates.)
Wind down opening of new debt and tokens has been implemented.
Q4 — v1 will eventually be deprecated completely. Please wind down your positions in a timely man. Again, eligible referral reward holders will be able to continue to participate until the end of the year.
Parcl Price feeds will have a more center stage role in v2, and there are plenty of exciting improvements across the board Parcl users will love. The PVP model allows for a more accurate “peg” of Parcl Price feeds in relation to the prices on the Parcl Protocol.
Referral rewards program update
Parcl has also recently kicked off the referral rewards program designed to give back to the eligible HoA holders who have played an instrumental part of the growth of Parcl.
Be sure to check out the steps needed for eligible HoA holders to participate.
Roughly 1500 HOA’s have been staked for the NFT rewards pool, with Brooklyn being be far the most popular rewards option.
There will be more details shared about phase 3 of the referral rewards program as soon as that information is available. If you are an eligible HoA holder and would like to participate, don’t delay!
And that’s a wrap for the very first monthly Parcl Town Hall recap.