According to official news, Gate Labs, the venture capital arm of Gate.io, announced a strategic investment in the decentralized finance (DeFi) platform Pencils Protocol. Pencils Protocol is a new generation of DeFi platform that focuses on providing auction and leveraged yield aggregation services for blockchain native assets and real-world assets (RWA), while using the Scroll network's zero-knowledge technology to improve the privacy and scalability of Layer-2 solutions.

It is understood that this investment will be used for Pencils Protocol's product development, security audits, community building and scalability improvement, helping it to create more efficient and secure DeFi services. Gate Labs said that this investment is in line with its long-term strategic layout, aiming to promote technological innovation and application expansion in the DeFi ecosystem, and expects Pencils Protocol to play a more important role in the field of decentralized finance. #BNB