Singapore, Singapore, September 9, 2024, Chainwire
Yield staking and auction-focused Pencils Protocol has introduced the profitable completion of a strategic funding spherical, which brings the corporate to a staggering post-money valuation of $80 million. The spherical was led by Taisu Ventures, DePIN X, Bing Ventures, Black GM Capital, and others.
Pencils Protocol is on a mission to revolutionize the world of decentralized finance (DeFi). With modern merchandise akin to farming, vaulting, and auctions, Pencils Protocol has created a platform that not solely offers highly effective monetary instruments, but additionally empowers customers to take management of their monetary future. Their success is rooted within the assist of their group, with over 400,000 energetic customers and a staggering $300 million Whole Worth Locked (TVL) proving the influence they’ve had on the DeFi area.
“We imagine Pencils Protocol is effectively positioned to make a significant contribution to the rising Scroll ecosystem. Leveraging Scroll's zero-knowledge know-how and deal with scalable, personal DeFi providers is aligned with our technique to assist modern infrastructure within the Layer 2 area. The public sale providers, yield aggregation and restake provided by Pencils Protocol are sensible options to extend asset utilization. By way of our prudent, technology-driven strategy, we’re assured in our means to create worth throughout the Scroll ecosystem.” — Takashi Hayashida, Managing Companion at Tice Ventures
Transferring ahead, Pencils Protocol is happy to announce the discharge of its newest improvements: Superior Multi-Technique Vault, Dynamic Public sale, and Store merchandise. These instruments are designed to supply extra subtle methods for yield optimization and facilitate dynamic bidding for high-value property in each Web2 and Web3, additional contributing to the protocol's aim of accelerating asset utilization throughout the DeFi area.
About Pencils Protocol
Pencils Protocol is a next-generation decentralized platform providing modern DeFi options, together with leveraged yield aggregation, blockchain and real-world asset (RWA) public sale providers. In partnership with Scroll, Pencils Protocol leverages zero-knowledge know-how to boost scalability, privateness, and equity for decentralized purposes.
Web site: Pencil Protocol
Medium: https://medium.com/@PencilsProtocol
Twitter: https://x.com/pencilsprotocol
contactExterior Relations OfficermicrophonePencil Protocolinquiry
This text was first revealed on Chainwire
