The Pencils Protocol project continues to take the crypto world by storm, reaching a significant milestone of $300 million in Total Value Locked (TVL).
Success of the $DAPP Token Sale
According to the report, the $DAPP token sale from Pencils Protocol has become quite attractive to investors, reaching $300 million in TVL. This impressive success was achieved just over a month after the project announcement, when it accumulated more than $3.2 million in TVL. Currently, the $DAPP token sale is being conducted on the Tokensoft platform. Registration exceeded all expectations: instead of the planned 5000 participants, 35,000 investors registered, resulting in a six-fold oversubscription.
Advantages of Pencils Protocol
What exactly makes the project so attractive, and why do investors believe in its long-term success? Pencils Protocol, formerly known as PenPad, is a next-generation decentralized platform. The project offers auction services for both blockchain assets and real-world assets (RWAs). Pencils Protocol is a Scroll-native application offering a host of products, including farming, vaults, liquid staking, launchpads, and RWA auctions. Thus, Pencils Protocol claims to be the largest DeFi yield aggregator on the Scroll platform.
OKX Support and Future Listings
The rapid growth of Pencils Protocol has attracted attention from leading crypto market players. The project has secured strategic funding from OKX Ventures, Sandy Peng (co-founder of Scroll), Taisu Ventures, Bing Ventures, and others. As a result of the latest funding round, the project reached a post-money valuation of $80 million. The $DAPP token has also garnered attention and is set to be listed on OKX Cryptopedia, which could soon lead to its presence on the OKX crypto exchange.
Pencils Protocol continues to grow successfully and attract attention in the decentralized finance world. With $300 million achieved in TVL and the successful $DAPP token sale, the project occupies a significant place among DeFi initiatives.
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