Pencil Protocol, a decentralized finance (DeFi) project built on the Scroll network, recently announced that its total value locked (TVL) has surpassed $350 million, solidifying its position as a top performer in the DeFi space. This achievement places Pencil Protocol third globally in the "farming" category of DeFi protocols. In addition to the impressive TVL milestone, Pencil Protocol also revealed that the number of on-chain active users on its platform has exceeded 550,000, representing a significant 50% increase from the previous month. This surge in active users underscores the growing adoption and popularity of Pencil Protocol within the DeFi community. As the largest DeFi project in the Scroll ecosystem, Pencil Protocol has garnered support from notable Web3 investment firms such as OKX Ventures, Animoca Brands, and Galaxy. This recognition further validates Pencil Protocol's potential and its role in shaping the future of DeFi. With its strong TVL and active user base, Pencil Protocol is well-positioned to continue its growth trajectory and make significant contributions to the DeFi landscape.