A decentralized real estate trading platform built on the smart contract platform Solana (SOL) is surging after getting a spot on Coinbase’s listing roadmap.
In a new thread on the social media platform X, Coinbase Assets announces the addition of decentralized exchange (DEX) Parcl (PARCL) to its roadmap, triggering a nearly 50% rally in just 24 hours.
Coinbase uses the listing roadmap for transparency and to prevent insider trading on coins prior to them being listed. Being placed on the listing roadmap means the firm has determined the asset will likely be available for trading in the future.
Parcl is a platform that lets users trade and invest in real estate via synthetic assets without having to actually own any property. Synthetic assets are blockchain-based representations of real-world assets, such as stocks, securities and property.
Parcl works by providing users with global city indexes and allowing them to acquire tokens that represent a stake in a specific index.
“City Indexes represent the aggregate value of real estate in a particular city. Instead of trading individual properties, you can trade the index price that represents the median price per square foot or square meter, giving you diversified exposure to an entire city’s real estate market.”
Some of the cities tracked for trading by Parcl include New York, Miami Beach, San Francisco, Austin, Los Angeles, Chicago, Dubai and a lot more.
At time of writing, Parcl is trading for $0.516, down over 5% on the day.
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