Yield Farming and Public sale Targeted Pencils Protocol Reached $80M Publish-Cash Valuation in Its Latest Funding

Singapore, Singapore, September ninth, 2024, Chainwire

Yield Staking and Public sale-focused Pencils Protocol introduced the profitable completion of its strategic spherical of fundraising, which has propelled to a powerful $80 million post-money valuation. This spherical was led by Taisu Ventures, DePIN X, Bing Ventures, and Black GM Capital and many others.

Pencils Protocol has been on a mission to revolutionize the decentralized finance (DeFi) panorama. With progressive merchandise like Farming, Vaults, and Auctions, Pencils Protocol created a platform that not solely provides sturdy monetary instruments but additionally empowers customers to take management of their monetary future. Their success is rooted within the assist of the group — over 400,000 energetic customers and a staggering $300 million in Complete Worth Locked (TVL) reveal the impression they’ve made within the DeFi area.

“We consider Pencils Protocol is well-positioned to contribute meaningfully to the rising Scroll ecosystem. Their use of Scroll’s zero-knowledge expertise, mixed with a deal with scalable and personal DeFi providers, aligns with our technique of supporting progressive infrastructure within the Layer-2 area. Pencils Protocol’s providing of public sale providers, yield aggregation, and restaking presents a sensible answer for enhancing asset utilization. We’re assured of their potential to create worth throughout the Scroll ecosystem by way of a measured, technology-driven strategy.” — Takashi Hayashida, Managing Accomplice at Taisu Ventures

Transferring ahead, Pencils Protocol is thrilled to share the launch of its newest improvements: superior multi-strategy Vaults, dynamic Public sale and Store merchandise. These instruments are designed to supply extra refined methods for yield optimization and facilitate dynamic bidding for high-value property throughout each Web2 and Web3, contributing additional to the protocol’s aim of enhancing asset utilization throughout the DeFi area.

About Pencils Protocol

Pencils Protocol is a next-generation decentralized platform providing progressive DeFi options, together with leveraged yield aggregation, public sale providers for blockchain and real-world property (RWAs) and extra. In partnership with Scroll, Pencils Protocol leverages zero-knowledge expertise to boost the scalability, privateness, and equity of decentralized purposes.

Web site: http://pencilsprotocol.io

Medium: https://medium.com/@PencilsProtocol

Twitter: https://x.com/pencilsprotocol

ContactHead of Exterior RelationshipsMikePencils Protocolinformation@pencilsprotocol.io

This text was initially revealed on Chainwire