Points Trilogy Concludes & Perpetual Points Begins

TLDR

• The initial snapshot for Points Trilogy (initial community allocation) has been taken as of 23:59 UTC on April 1st.
• The leaderboard is now undergoing audit and will be updated within the next 7 days. Distribution details for the initial community allocation will be shared around this time.
• The final Season 3 loyalty & consistency snapshot has NOT yet been taken. I will be taken within the next 7 days. The boosts will be meaningful and reflected in the final leaderboard.
• The initial distribution of PRCL is coming soon - be sure to follow Parcl Limited for updates.
• Perpetual Points have already begun accruing—see below for the new parameters. The first season will culminate in another distribution of PRCL in the back half of 2Q 2024. This distribution will be the largest within the Perpetual Points program. The leaderboard for Perpetual Points will go live after Parcl Limited’s initial distribution of PRCL.
• Exciting Protocol roadmap ahead: Parcl will soon increase leverage limits, onboard FX to support global real estate markets (starting with London and Paris), provide rental price feeds, and more, including “native” assets.

The initial Points Trilogy concluded with the end of Season 3 on April 1st at 23:59 UTC. Over 200,000 users participated across the three seasons, resulting in massive ecosystem growth; Parcl’s TVL grew nearly 25x from mid-December to today, exiting March with >180M in USDC deposits. Trading volume recently crossed $1B in total USDC traded, up from less than $10M when Points began. While the last three months have seen tremendous growth - the next three months will be even more exciting. The V3 exchange has proven its ability to scale and maintain adequate risk controls. Parcl will soon increase leverage limits, onboarding FX to support global real estate markets (starting with London and Paris), rental price feeds, and more, including “native” assets. Thank you to the entire community that has supported Parcl to this point; we’re just getting started.

Over the coming days, the finishing touches are being put on the Points Trilogy.

Here’s what to expect:

• The Points Trilogy leaderboard will be finalized within 7 days and will be live for at least 24 hours.
  • The final Season 3 loyalty & consistency snapshot has NOT yet been taken.
    • Snapshots will be taken within the next 7 days and boosts will be reflected in the final leaderboard. The boosts will be meaningful; representing a token of appreciation for those LPs and traders that stayed with Parcl throughout the Points Trilogy and beyond.
    • As with past seasons, there will be multiple rates, and making the final snapshot will give LPs and traders a level up versus the prior (Season 2 & Season 1) snapshots.
    • The snapshot will again be based on TVL (LP and margin accounts), but this time, it will compensate for realized PnL and trading volume season over season.
      • To make the final snapshot, ensure your TVL remains at or above the level it was on 2/23.
    • HOAs will also be part of this snapshot.
  • Screening for ineligible activity:
    • Any Points participants that proactively disclosed self-referral activity will have the ineligible portion (any boosts from referring related wallets) removed before the final leaderboard is shared.
    • Over the same timeframe, screening will occur for unreported self-referring and other extractive Sybil activity (primarily delta-neutral trading across multiple accounts and/or wallets).
• Perpetual Points began today, April 2nd, at 00:00 UTC
  • Please note that the final leaderboard for the initial community allocation is not yet final. As such, the leaderboard for Perpetual Points will go live after Parcl Limited’s initial distribution of PRCL; rest assured that Perpetual Points are accumulating via on-chain activity.
  • Overall, the way users responded to the structure of the “Points Trilogy” was excellent. There were some modest undesired effects however, particularly around delta-neutral trading and self-referrals. These were addressed swiftly, and the community responded in a constructive way. During perpetual points, Parcl will be monitoring behavior closely and modifying point rates more dynamically (if needed) to continue to facilitate further growth of the Protocol in terms of offering higher leverage, more capital efficiency, new asset classes, and optimized risk parameters.
  • With that said, Points denominations for season 1 of perpetual points are as follows:
    • LP = 7 points per dollar per day
    • Trading
      • OI = 1.25 points per dollar per day
      • Fees generated = 0.5 points per $1 of fees generated
      • Realized losses = 100 points per $1 of losses realized
    • HOA boost: 25% (up from 20%) for the first HOA and 5% for each thereafter
  • Perpetual points will culminate in a second distribution of PRCL to the community in the back half of 2Q 2024. This distribution will be the largest within the Perpetual Points program.
• Next up: PRCL.
  • Parcl Limited plans to release comprehensive distribution details for its initial community distribution during the week of 4/8.
    • As a reminder, 75,000,000 PRCL will be distributed to early adopters (Parcl Points holders) and 5,000,000 to core community.
    • Further details about the initial community allocation can be found here.
  • Users will need PRCL to participate in future iterations of Perpetual Points.

Terms

Please ensure to accept the Parcl Points Program Terms & Conditions, which are detailed here; agreeing to these terms is required to participate in the Points program. Please read these Terms carefully.