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Penpad is one of the largest comprehensive platforms in the Scroll ecosystem. It currently has the support of Scroll officials and the community. It is one of the first partners of Scroll's series of programs including achievement systems and loyalty points. It also has long-term support from industry partners including OKX Wallet.

Currently, Penpad is launching the Eco-Token Launch event (the first Launch event) and is in the Season 2 stage. Users stake ETH to obtain Penpad points and use this as a basis to obtain the Launch quota allocation of PDD tokens. Currently, the Season 2 ETH staked volume has exceeded 1,000 ETH, with a TVL of nearly 3.2 million US dollars, making it the top protocol in the Scroll ecosystem.

Of course, as Season 2 is launched, Penpad has further upgraded its brand to Pencils Protocol, providing ecosystem users with a very rich gameplay and profit mechanism. On this basis, it is expected to capture airdrop opportunities from multiple ecosystems to achieve the goal of killing two birds with one stone.

Pencils Protocol: A super Dapp that combines DeFi + Launchpad in the Scroll ecosystem

As a comprehensive platform native to the Scroll ecosystem, Pencils Protocol has basic LaunchPad functions. It further implements ZK-based KYC based on the underlying Scroll layer and will be compatible with multiple IDO modes, including English auction, Dutch auction, BLP mode, etc.

By upgrading the brand in multiple ways, it is expanding from the initial LaunchPad platform to Stake, Vault, Shop and other sectors, and is expected to further build a multi-functional super Dapp.

1. Pencils Protocol’s Super Dapp

Pencils Protocol not only upgraded the LaunchPad platform, it also launched a highly composable section, Staking and Vault, with multiple product functions. These functions are composable with each other and can be deeply combined with other third-party DeFi protocols.

l Staking

In the staking products, four major asset categories will be included for users to choose from in the initial stage, including native ETH and re-pledge protocol certificates, stablecoins, WBTC and EVM-compatible BTC staking certificates, and high-quality ERC20 assets within the Scroll ecosystem.

When users pledge the supported funds to the corresponding pool, these assets will enter the Vault pool for Vault users to borrow and configure leveraged asset gameplay. Of course, the Vaults pool will ensure the safety of depositors' funds by evaluating the borrower's principal and limiting the borrower's leverage multiple. After the user borrows, the system will deduct the corresponding interest from the income.

In addition, users who participate in deposit staking early will also receive multiple Points incentives from Pencils Protocol, Scroll, and Scroll Ecological Protocol.

l Vaults

Pencils Protocol Vault 1.0 will be the first to integrate Scroll's head DEX and connect Vaults Pool to DEX's liquidity pool. Users can choose LP targets of interest in Pencils Protocol Vaults Pool to participate and flexibly set different leverage multiples. Vaults contracts will automatically allocate the required leverage funds from the Staking deposit pool to meet users' pursuit of higher returns on funds and provide them with a more convenient and efficient capital appreciation experience.

For users who actively participate in Vaults 1.0 in the early stage, Pencils Protocol has set up a multiple income mechanism. Users can not only obtain the basic income of deposit staking and LP staking, but also receive high-multiple points rewards from Pencils Protocol, DEX and Scroll.

Vault 2.0 will further add cooperation with the leading Liquid Restaking protocol to bring more income opportunities to users participating in Vaults. Users will be able to enjoy native restaking yield and multiple points rewards (including multiple points from EigenLayer, Restaking Protocol, Pencils Protocol, DEX and Scroll) at the same time. The upgrade of this comprehensive income matrix aims to attract more users and asset inflows through broader and more competitive income expectations.

In the future, Vaults products will continue to connect to more high-quality asset targets, and strive to become the user's preferred fund income management tool, providing users with more diversified, efficient and secure asset appreciation channels.

In addition to the above sections, the Shop section provides users with a channel to purchase physical or virtual goods. It not only helps users connect physical goods with virtual goods, but also provides users with a unique shopping experience. In the future, it will cooperate with more brands and suppliers to expand the range of goods and add exclusive products and services.

Points system:

After the product upgrade, Pencil will serve as the core contribution points certificate in the Pencils Protocol ecosystem, and can be used to participate in Staking, Vaults, Launch, and ecological activities in the Shop product section to be launched in the future.

Users can obtain and use Pencil in different ways. You can get Pencil by depositing the corresponding assets in Staking, and in Launch, users can consume Pencil to get more allocations or lower prices, thereby increasing the chances of obtaining high-quality project chips. In addition, in Vaults, users can increase leverage by consuming Pencil and obtain more mining income. In Shop, Pencil is a necessary certificate for users to obtain limited products or services.

As the Pencils Protocol ecosystem continues to develop and user needs continue to change, Pencil's rules and usage methods will continue to be optimized and adjusted to better meet ecosystem development and user needs.

Of course, when users perform the above operations, they will also be able to earn Scroll points. At present, Scroll has clearly stated on social platforms that it has launched a loyalty program "Session Zero" to reward the community for participating in the Scroll ecosystem through Scroll Marks. Users can earn Scroll points by bridging their assets to Scroll. (By performing the above staking, you can also get additional rewards of Scroll points).

Therefore, users who participate in the Pencils Protocol Vault pool can not only continuously cycle through leveraged staking, but also receive a series of point rewards. These rewards are expected to have airdrop expectations in the future, including:

Liquid Restaking Protocols (and the Eigenlayer Credits they bring) Credits

Scroll Ecosystem Points

Pencils Protocol Points,

Dex Points

Lending Points

………

So we see that Pencils Protocol's Vault pool can combine many gameplays by integrating with different DeFi protocols, and it is expected to achieve the effect of killing two birds with one stone at the lowest cost in this way.

Overall, while most DeFi protocols and LaunchPad platforms are still sticking to the old ways, Pencils Protocol is further upgrading the benefits and gameplay through the composability of on-chain protocols. This is not only an opportunity for on-chain players, but also brings new liquidity vitality to the Scroll on-chain ecosystem and on-chain projects, and contributes to the long-term security development of the ecosystem.