According to Techub News, Gate Labs has made a strategic investment in the DeFi platform Pencils Protocol.

The DeFi platform Pencils Protocol provides auction and leveraged yield aggregation services for blockchain native assets and RWA, while using the Scroll network's zero-knowledge technology to improve the privacy and scalability of Layer2 solutions. This investment will be used for Pencils Protocol's product development, security audits, community building, and scalability improvements.