Pencils Protocol is a comprehensive DeFi protocol on Scroll. Since September 18, it has started selling DAPP tokens on platforms such as Tokensoft, Bounce, and Coresky, and they were sold out in a short period of time. It has attracted more than 50,000 certified users from more than 70 countries including South Korea, CIS, and Turkey, and the response has been enthusiastic.
Pencils Protocol currently has a high market demand. Under the premise of promoting the Staking section alone, the current TVL has exceeded 350 million US dollars, accounting for about half of the TVL on the Scroll chain. At the same time, Pencils Protocol has attracted more than 500,000 active users and is backed by a strong ecological community.
We believe that there are several reasons why Pencils Protocol has attracted much attention from the market. One is product innovation. For example, the Staking section links the LRT track and the pre-market incentive market, which brings future profit expectations to users and enables the growth of the LRT protocol. Its Vaults section is the first to introduce leveraged mining functions. It is also an on-chain liquidity hub, bringing a steady stream of liquidity to different DeFi protocols and LRT protocols, while greatly improving liquidity efficiency, capital efficiency and user benefits. In addition, its auction, Shop and other sections promote the connection between the DeFi market and potential tracks such as RWA to seek more growth points for the market.
One is profitability. The performance of the Pencils Protocol Staking sector has shown us the growth potential of the protocol, and also the potential profitability of the protocol. With the launch of Vaults, LaunchPad, Shop and other sectors, Pencils Protocol will further demonstrate its strong profitability, and will create strong market expectations for the future of DAPP tokens through repurchase, destruction, and granting scenarios.
With the completion of the sale of Pencils Protocol DAPP tokens, it will also indicate that the Pencils Protocol ecosystem has entered a new stage, and DAPP will become an important asset to drive the growth of the ecosystem. In the new development stage, Pencils Protocol has launched a series of market activities worthy of attention, and this article will sort out these activities.
Review of Pencils Protocol’s recent market activities that cannot be missed
1. OKX Cryptopedia event launched (23rd issue, Babylon Season)
OKX Cryptopedia is a platform for exploring DApps and winning rewards. The platform regularly launches activities with different blockchain networks as the theme, and each issue provides multiple DApps and interactive tasks. In the 23rd issue, the theme is Babylon Season. Pencils Protocol, as a deep partner of OKX Wallet, participated in this event. We can get rewards by completing social media tasks.
The event is currently ongoing and will last for several months. Event: okx.com/zh-hans/web3/discover/cryptopedia/event/44
2. Yescoin Campaign (Ton Ecosystem Game Leader)
Currently, Pencils Protocol has received support from TON ecosystem gaming giant Yescoin Campaign. Yescoin Campaign is a gamified task platform where users can participate in a series of tasks through the Yescoin applet and receive a series of incentives including the corresponding Yescoin token airdrops provided by Yescoin after completing the tasks. Pencils Protocol has currently launched the Yescoin Campaign task list, where users can complete tasks on the relevant page to receive incentives. Pencils Protocol will subsequently receive support from a series of TON ecosystem head games.
We first need to open t.me/therealyescoin. After entering the mini program through the Play button, click the wallet button in the lower left corner.
Find the Pencils Protocol and follow the instructions to complete the task.
Event time: Starts on September 16th and is expected to last until October 10th.
3. Vaults product is officially launched
Vaults is an important product segment of Pencils Protocol. Users can conduct leveraged mining, that is, access some assets from the pool in the form of loans and conduct liquidity mining, and can obtain liquidity mining income exponentially. At the same time, Pencils Protocol also cooperates deeply with Mind Network and integrates with it. Users use Vaults as an entry point and participate in voting through Restaking. They can serve as validators for leading AI and FHE projects such as Zama, Fhenix, Singularity and Bittensor, and receive additional rewards.
5. Pencils 3% Ecosystem Airdrop
Pencils Protocol has launched a new round of large-scale airdrop incentives on September 25, with a total airdrop amount of 3% of the total DAPP tokens. Users can use eligible addresses for signature authorization and submit the UID and recharge address of the cooperative exchange (CEX) before TGE. After successful verification, the airdrop tokens will be distributed to the accounts of the cooperative exchanges before the exchanges open for trading. At the same time, users can also choose to receive them through the Scroll chain, which will be open 1 hour before TGE.
Airdrop Allocation
In this airdrop plan, a total of 3,000,000 $DAPP (3% of the total issuance) will be distributed to early supporters and contributors of Pencils, as follows:
2,000,000 $DAPP (2% of the total supply) will be allocated based on the user's Pencils holdings and will be released all at once during the airdrop without the need for phased unlocking.
1,000,000 $DAPP (1% of total supply) will be distributed to early active users, including:
1. Users who get S1 card
2. Users who obtain S2 certification
3. Users who hold Pencils S and P Badge
4. Users who participated in the OKX Wallet joint event and obtained the Pencils Protocol Miner S3 NFT
5. Users who successfully minted SOUL NFT (including all partners’ Boosting activity participants)
This part of the tokens will be gradually unlocked in three stages: 50% will be released during TGE, 25% will be released 30 days after TGE, and the remaining 25% will be released 60 days after TGE. If you are within the scope of this airdrop, please pay attention to Pencils Protocol’s social media immediately.
6. Revenue activities after $DAPP token is listed on the exchange
DAPP tokens will be available for trading on Gate at 10:00 UTC on September 27, and a series of revenue activities will be launched on major CEX platforms, including: Gate Startup Airdrop Activity:
September 25th - September 27th Participation details: gleam.io/Z9VaS/gateio-startuppencils-protocol-dapp-1000-giveaway
Single coin staking: September 27 - October 27
Net Buy Trading Competition: September 27 - October 4
Trade to Earn: October 5th - October 12th
Hold to Earn: October 5th - October 12th
In addition to Gate, Bybit is also reportedly open for deposits, and will open trading on the 27th, and will also launch DAPP token staking and trading activities. The staking section will provide a total of 20,000 $DAPP tokens as incentives, with a staking period of 30 days and an expected return of 30% APR. Each user can stake 10,000 to 30,000 $DAPP tokens.
For details of the series of CEX activities, please follow the official account of Pencils: x.com/pencilsprotocol
7. $DAPP Token Farming Activity
Pencils Protocol will launch a 14-day $DAPP staking event on September 27, 2024, with participants receiving up to 50% annual interest. By staking $DAPP in Pencils Farming, users can enjoy short-term high returns while receiving shares in upcoming auction projects and additional airdrop rewards from more Scroll ecosystem projects.
