Parcl Protocol on Solana Sees 40% TVL Drop Amid Airdrop

Following the snapshot on April 3, users withdrew over 40% of locked funds from the real estate market betting platform Parcl, according to DeFi Llama data.

The “snapshot” was intended for an airdrop, which occurred on April 15.

However, during its execution, the TVL of the Solana-based project plummeted from $185.6 million to $109 million.

The Parcl team noted that they penalized user addresses suspected of a Sybil attack.

After trading began at an opening price of $1, the PRCL token fell to around $0.5.

Earlier in April, the cross-chain protocol Wormhole on Solana distributed W tokens. Experts observed that the airdrop attracted significant attention from scammers. After reaching a peak of $1.5, the coin’s price also fell to around $0.6 (CoinGecko).

The NFT platform Tensor within the blockchain ecosystem also launched a governance token. On April 9, the asset’s quotes approached $2. At the time of writing, the coin trades around $0.8.

According to Blockaid data, about 50% of presales on Solana turned out to be scams.

Meanwhile, the blockchain team is attempting to address network overload issues that have caused transaction delays.

Back in April, the decentralized exchange Drift on Solana also announced the launch of a governance token.