Parcl

Parcl ran a points programme first. Points came from trading perpetual futures or providing liquidity, plus a referral scheme in which the referrer received 10% of the points earned and the referred user got a 5% boost. After Season 1, the project was on Season 2. Parcl published further details on 28 March and took a snapshot of points balances at 1 a.m. London time on 2 April, with a later final snapshot on 8 April according to The Defiant.

The size of the airdrop is reported differently. One source says participants were allocated 8% of the total PRCL supply at launch, structured in three tiers. Another reports 75 million PRCL, or 7.5% of supply, for early adopters plus 5 million for the core community, and the earlier announcement put the community supply between 7% and 8%. One report notes that users holding fewer than 40,000 points received a fixed 20 PRCL.

Phantom says the airdrop took place on 16 April 2024, a few days after the 8 April snapshot. Claims required a dedicated site, and Phantom warned about scammers creating imitation accounts to push phishing links and wallet drainers. DL News also reported a 34% decline in deposits after the snapshot, a common pattern when farmers leave once eligibility is fixed.

A fixed minimum of 20 PRCL for small holders shows how tiered systems protect the smallest users from getting almost nothing, at the cost of reducing the share for the largest.

The 34% decline in deposits after the snapshot is the other lesson. Capital that arrives for a reward leaves as soon as the reward is fixed, so a protocol's pre-snapshot figures can overstate its lasting demand. When assessing any project that ran a points programme, look at activity several months after the snapshot, not at the numbers during it, because that is closer to real usage.