> For the complete documentation index, see [llms.txt](https://docs.parcl.co/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.parcl.co/parcl-v3.md).

# Parcl v3

Parcl v3 is a perpetuals exchange designed for real estate synthetics. It supports cross margined perps trading on various real estate markets. LPs add liquidity to a single LP pool per exchange where they take on trader PnL as well as earn trading fees.

Market index prices are price feeds created by [Parcl Labs](https://www.parcllabs.com/). The Parcl dev team operates Pyth oracles to stream the Parcl Labs price feeds on-chain.