OKX Ventures Invests in Pencils Protocol to Strengthen Scroll Ecosystem

OKX Ventures Invests in Pencils Protocol

In a recent announcement, OKX Ventures revealed its investment in Pencils Protocol, a next-generation decentralized platform that provides auction services for blockchain-based assets and real-world assets (RWA). Additionally, the platform provides integration and utilization revenue aggregation services to help users maximize asset utilization.

Pencils Protocol in the Scroll Ecosystem

Pencils Protocol is one of the largest native DeFi projects within the Scroll ecosystem. It acts as an all-in-one yield aggregation and auction platform and offers features such as launchpad, asset aggregation and distribution, and leveraged yield. Pencils Protocol’s collaboration with Scroll has pioneered a layer 2 solution focused on scalable private dApp development and fair distribution principles using zero-knowledge technology. This initiative aims to inject new vitality and momentum into the continued development of the Scroll ecosystem by providing users with a more efficient and secure trading environment.

meaning of investment

The Pencils Protocol team sees OKX Ventures’ investment as an opportunity to contribute to the growth and enhancement of the Scroll ecosystem by accelerating technology research and development and product promotion. OKX Ventures, the investment arm of OKX, a leading cryptocurrency exchange and Web3 technology company, is committed to exploring the best blockchain projects around the world, supporting cutting-edge blockchain technology innovation, and investing in long-term structural value. OKX Ventures will invest $100 million in initial capital to promote the healthy development of the global blockchain industry.

For more information about the Pencil Protocol, visit the official website. For further inquiries, please contact Media@okx.com.

About OKX Ventures

OKX Ventures is committed to supporting entrepreneurs contributing to the advancement of the blockchain industry. We help build innovative companies by combining global resources and historical experience with blockchain projects. For more information about OKX Ventures, please visit the official website.

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