IDO launchpad and auction-focused Pencils Protocol will conduct its $DAPP token sale on Tokensoft on Wednesday, September 18. Launched in March 2024, Pencils Protocol has recorded a TVL of round $319 million. The venture companions with the Scroll ecosystem, rating because the #1 DeFi platform on Scroll as of September 17.
Simply over per week in the past, Pencils Protocol introduced the profitable completion of its current funding spherical, which led it to a post-money valuation of $80 million. Whereas this spherical was led by names like Taisu Ventures, DePIN X, Bing Ventures, and Black GM Capital, the venture is backed by business giants like OKX Ventures, Animoca, and Gate Labs. Pencils Protocol has additionally gained over 459K lively customers as of September 17, 2024.
The token sale slated to happen on Tokensoft on September 18 was initially anticipated to be capped at 5,000 customers. Nonetheless, Pencils Protocol has witnessed about 35,000 registrations as of September 17. Within the time forward, high CEX listings and heavy itemizing features for buyers are additionally anticipated.
About Pencils Protocol
Pencils Protocol operates as an all-inclusive public sale platform and yield aggregator in partnership with the zkEVM (zero-knowledge Ethereum Digital Machine rollup) Scroll. The protocol makes use of zero-knowledge know-how to amplify decentralized purposes’ privateness, transparency, and scalability.
Pencils Protocol has just lately undergone a rebranding from PenPad to its present title. Whereas PenPad mirrored the protocol’s place as an IDO launchpad, the brand new Pencils Protocol is greater than that.
Subsequently, together with discovering new token launches, listed below are some services and products to be discovered on Pencils Protocol:
The protocol has additionally launched the ‘Pencils’ factors system to reward consumer engagement. For instance, should you stake property value $100 on the Scroll community after you join and join your pockets to the Pencils Protocol, you’ll earn 1 Pencil per day. These factors can later supply advantages like early token allocations, unique merchandise, excessive leverage in liquidity mining, and extra.
Pencils Protocol goals to turn out to be a one-stop hub for all DeFi options on Scroll within the close to future. Choices embrace decentralized lending and borrowing, swaps, farming, and extra in a low-gas and low-slippage platform.
Notably, Pencils Protocol has supplied 1000% ROI to their buyers up to now in 2024.
Key factors about Pencils Protocol and the upcoming $DAPP sale
OKX Ventures, Animoca Manufacturers, Gate.io Labs, Bing Ventures, and extra again Pencils Protocol.
Pencils Protocol has round $319 million in TVL by September 17.
It’s presently the #1 DeFi venture inside the Scroll ecosystem.
Pencils Protocol is likely one of the high 3 DeFi farming protocols within the crypto house.
Pencils Protocol has over 459K lively customers.
The protocol has a deflationary buyback mechanism for $DAPP to keep up a wholesome financial system.
The $DAPP token sale might be held on Tokensoft on September 18, and consumer registrations are already 35,000+, over 7x greater than the 5,000 customers anticipated to attend on a first-come, first-serve foundation.
For extra data, please go to:
Web site: https://pencilsprotocol.io/house
Twitter: https://twitter.com/pencilsprotocol
Telegram : http://t.me/pencilsprotocol
Discord: https://discord.com/invite/v5nb2Q3Zt3
Disclaimer: The knowledge supplied on this press launch will not be a solicitation for funding, neither is it supposed as funding recommendation, monetary recommendation, or buying and selling recommendation. It’s strongly really helpful you apply due diligence, together with session with an expert monetary advisor, earlier than investing in or buying and selling cryptocurrency and securities.
