A decentralized real estate trading platform built on smart contract platform Solana (SOL) is booming after landing a spot on Coinbase’s 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, leading to a nearly 50% rally in just 24 hours.
Coinbase uses the listing roadmap for transparency and to prevent insider trading of coins before they are listed. Placement on the listing roadmap means that the company has determined that the asset is likely to be available for trading in the future.
Parcl is a platform that allows users to trade and invest in real estate through synthetic assets without actually owning real estate. Synthetic assets are blockchain-based representations of real-world assets such as stocks, securities and real estate.
Parcl work by providing users with global city indices and allowing them to acquire tokens that represent a stake in a specific index.
“City indices represent the total value of real estate in a given city. Instead of trading individual properties, you can trade the index price that represents the median price per square meter, giving you diversified exposure to an entire city’s real estate market.”
Some of the cities followed for trade by Parcl include New York, Miami Beach, San Francisco, Austin, Los Angeles, Chicago, Dubai and many more.
At the time of writing, Parcl is trading at $0.516, down more than 5% on the day.
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Featured image: Shutterstock/Plasteed
