The bear market of last year was a wake-up call for blockchain networks, emphasizing the need to focus on real-world utility.
In response, many networks have explored opportunities in traditional industries, and Solana is the latest to follow this trend.
Solana recently announced that a new protocol, Parcl, has launched on its network, marking a significant step toward the real estate market. Parcl is a real estate derivatives protocol and the first of its kind on the Solana blockchain.
Like any market, prices in the real estate market fluctuate depending on demand. With the new development on Solana, derivatives traders can now trade derivatives that track the real estate market. This enables fractional purchases and allows investors to enter and exit positions in the market easily.
This development not only boosts the utility of the Solana blockchain but also has the potential to attract more users.
The derivatives approach could potentially provide the ability to execute leveraged long and short positions, which will increase demand, support the value of SOL in the long term, and boost network utility.
