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Recently, Penpad, the LaunchPad & aggregated revenue platform on Scroll, has received major good news. The platform recently received financing from Gate Las, and later received financing from Scroll co-founder Sandy. This has also made the Penpad platform one of the most noteworthy projects in the Scroll ecosystem in recent times.
In fact, Scroll has attracted much attention from the industry for its solid technical solutions in the zk Rollup camp and a valuation of nearly $4 billion, and the development of this ecosystem is highly anticipated. Penpad is seen as the main successor to the Scroll ecosystem's technological advantages. It fully utilizes Scroll's technological advantages and builds many cutting-edge features such as user identity and compliance through zk technology.
As the largest LaunchPad platform in the Scroll ecosystem, it is also becoming an important channel for more projects, assets and users to enter the Scroll ecosystem, and is considered to be a new value entrance for the Scroll ecosystem, as well as an early contributor and builder of the prosperity of the Scroll ecosystem. Its investment from Scroll co-founder Sandy and Gate Labs can be regarded as the recognition of the significance of Penpad to the Scroll ecosystem and its long-term development prospects by the Scroll ecosystem.
What does it mean to get financing?
l Penpad ecosystem receives more resources
Penpad's financing represents the high attention and recognition of the Scroll ecosystem and Gate Labs, and is also a bet by both on the LaunchPad and Scroll concept projects. In order to promote the better development of Penpad in the future, these investors will provide Penpad with multiple resources, which will be a great benefit to the Penpad ecosystem in both the short-term and long-term development.
l PDD becomes the top concept asset on Scroll
The Scroll ecosystem is still in its early stages of development, and Penpad is one of the few projects in the ecosystem that has received financing. This will also allow the PDD token to take its place as the leading concept asset of the ecosystem in advance. With the progress of Penpad Launch, the PDD token is also expected to usher in higher market expectations.
l Brand new market process
Penpad's two rounds of financing may be a brand new beginning. With the development of the ecosystem, it is expected to attract more attention from investors, and this may also be the beginning of Penpad gaining more market investment.
New valuation
The financing is expected to further expand the market size of the Penpad ecosystem, which will also drive Penpad to further obtain higher valuation expectations and become the largest application ecosystem in the Scroll ecosystem.
Therefore, for Penpad, financing is not only a recognition of the long-term development potential of the Penpad ecosystem in the market, but also the beginning of a new round of wealth effect and a new stage for the Scroll ecosystem.
Expansion from LaunchPad ecosystem to revenue aggregation ecosystem
Penpad is not just a LaunchPad platform, it is also expanding into an aggregated income ecosystem. At present, it has launched a new DeFi section. Through in-depth combination with other third-party DeFi protocols, it has many product functions such as lending, leveraged income, automated income pool, DEX, Restaing, and perpetual contracts and options to be launched in the future. It is expected to bring safe and considerable continuous income to investors and capture points accumulation from different ecosystems.
An example of potential revenue is a combination of DEX Farming, Lending, and Restaking, such as:
1. Users can first cross-chain ETH assets to Penpad through the cross-chain bridge supported by Scroll.
2. Penpad's Vault pool is connected to some Restaking pools (such as Eigenlayer, Kelp DAO, etc.). After users stake ETH in the pool, they will receive rtETH (LST assets from different restaking protocols) and receive staking APR income (2%~3%). In addition, users will also receive Restaking points (such as Eigenlayer points, etc.) and Pencil points for interacting with the three parties in the staking protocol.
3. At this point, we hold rtETH due to pledge. We can pledge the rtETH assets again in the lending pool integrated by Penpad (such as Layerbank, etc.), and borrow ETH or other ETH wrapped tokens. At this time, we will be able to obtain the interest from staking rtETH assets, and also obtain lending points provided by the third-party lending platform.
4. After completing the loan, we can once again use the rtETH we hold and the ETH tokens obtained through loan pledge at a 1:1 ratio through Penpad Valuts in izumi and other protocols to conduct LP mining (rtETH-ETH). After that, we will obtain izumi's i points and Farming income.
5. Finally, we can claim farming income and convert this part of income into ETH through DEX. This part of income will be able to directly fill the loan interest in the above process.
In this process, users can not only combine profits among different DeFi protocols, but also obtain points rewards through their behavior. These points rewards are expected to obtain a series of rights and interests including airdrops in different ecosystems.
The utility of Penpad's Pencil points has been clarified. Holding them can increase the income in the Vaults leveraged lending pool, and from time to time you can get other project token airdrops, as well as some Launch quotas, limited products or services, etc. In the future, the captain mode will be launched, and holding Pencil points can unlock lower prices, and Pencil expansion gameplay can unlock more quotas, etc. Other points, such as Eigenlayer points and Scroll points, will be important bases for users to capture these ecological airdrops.
So we can see that while capturing profits through Penpad as an entry point, we can also obtain rights and interests in other ecosystems, which can be said to kill two birds with one stone. At the same time, it is not difficult to find that Penpad has brought the composability of DeFi to its fullest potential.
After the financing, Penpad will continue to advance new market developments and gradually launch new ways of interacting with other ecosystems. This will also indicate that the development of the Penpad ecosystem will enter a new era.
