Pencil Protocol, formerly known as Penpad, is a next-generation decentralized platform offering auction services for both blockchain-native assets and real-world assets (RWAs). The project attracts attention with its innovative DeFi solutions.
Current Achievements and Users
Pencil Protocol has reached over 410K active users, reflecting significant engagement and adoption. With over $300 million in total value locked (TVL), the project highlights its liquidity and potential in the DeFi ecosystem. The project offers farming, vaults, and auctions, aiming to maximize asset utilization in the DeFi ecosystem.
Project Valuation and Listing
Pencil Protocol recently reached an impressive $80 million post-money valuation after a strategic funding round led by Taisu Ventures, Bing Ventures, DePIN, and Black GM Capital. In mid-May 2024, OKX Ventures also invested in the project. Pencil Protocol will be listed on OKX Cryptopedia, which may lead to further growth and trading opportunities.
Token Sale and Partnerships
The $DAPP token sale for Pencil Protocol is set to launch on Tokensoft on September 18. Additionally, the project is already integrated with Binance Web3 Wallet. Pencil Protocol, leveraging its partnership with Scroll and utilizing zkEVM technologies, continues to develop as a leading DeFi protocol. Rigorous audit processes and security measures underscore the project’s commitment to transparency and data protection.
Pencil Protocol demonstrates significant growth potential, drawing attention with its innovative solutions and partnerships. With robust security and transparency measures, the project sets essential parameters in the Web3 ecosystem.
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