Parcl & Parcl Limited are excited to announce a PRCL token staking program, which will begin soon. Staking is foundational to align the ecosystem long-term and will underpin each of the core utilities of $PRCL; staking will effectively unlock all participation in the Parcl ecosystem, including governance, existing & future protocol incentives (more details to be outlined next week), and Parcl Labs Data API access.
Here are the important mechanics of staking:
- Epochs are a fundamental principle of time for staking. For Parcl, 1 Epoch = 7 days, with the first epoch being announced shortly.
- Staking into the contract: when depositing $PRCL tokens into the staking contract, tokens do not get recognized until the start of the next epoch. View this as a warm-up period.
- Un-staking: When un-staking tokens, governance power and protocol incentive rights (such as boosts) are lost immediately. A cool-down period initiates, and tokens can be withdrawn after the cool-down period ends.
- Cool Down period: The cool-down period is the time during which tokens remain locked before becoming eligible for withdrawal. The cool-down period related to $PRCL tokens will be two epochs. The cool-down period begins at the start of the next epoch after the user un-stakes.
- Withdrawing: The ability to withdraw tokens is enabled after the cool-down period is complete.
Further explicit details outlining PRCL staking utility, integrations, and launch timelines will be shared early next week.
The information provided on this blog is for general informational purposes only and is not intended as investment advice or as a recommendation of any particular security, strategy or investment product. The information on this blog is not intended to be, and should not be, relied upon as a substitute for individualized investment advice. The company and its management make no representation or warranty, express or implied, as to the accuracy or completeness of any information or opinions contained on this blog. Be sure to review all rules & terms that apply to this and any other contest offered by Parcl or its affiliates.
