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Recently, the Scroll ecosystem project Penpad has upgraded its brand to Pencils Protocol. After the upgrade, it has been further expanded from a native LaunchPad platform of the Scroll ecosystem to a new ecosystem that integrates Staking, Vault, and Shop. The new brand upgrade not only makes the Pencils Protocol ecosystem more influential in Scroll, but also becomes the most important catalyst for the prosperity of the Scroll ecosystem.
Of course, with the completion of the Pencils Protocol brand upgrade, while deeply innovating the product system, it also launched a Pencil points system to further expand the Pencils Protocol into an ecosystem with rights and incentives. At the same time, with the launch of the Pencil points system, it also heralds a new start for the Pencils Protocol ecosystem.
What is Pencil?
Pencil points are a rights incentive system for the Pencils Protocol ecosystem. They are the contribution points of users participating in the Launch project and are intended to serve as a reward mechanism for the Pencils Protocol ecosystem. It encourages users to actively participate in the construction of the ecosystem, thereby helping users obtain the allocation quota of the Launch project and purchase corresponding props through the Shop. The more users contribute to the ecosystem, the more Pencils they get and the more benefits they can obtain.
From the perspective of Pencil points themselves, holding Pencil points can obtain a series of rights and incentives from the Pencils Protocol ecosystem, including:
l The only redemption tool to obtain Launch project quota
Pencils Protocol is an important value channel for the Scroll ecosystem and an important channel for many high-quality projects to enter the Scroll ecosystem. Currently, Scroll is in its early stages, and under the new round of market conditions, the Scroll ecosystem is expected to usher in a wave of applications soon, including the expansion of some well-known DeFi protocols to the Scroll ecosystem, and some developers developing native applications in the Scroll ecosystem. Therefore, for Pencils Protocol, as the main LaunchPad platform of the Scroll ecosystem, it is also expected to soon become the carrier for these applications to be launched in the Scroll ecosystem.
What is worth noting here is that the number of Pencil points determines the upper limit of the user's new project quota, and it is the only redemption tool. For example, the next Launch project has a quota of 100,000 USDT, and the number of pencils a user has determines the weight of his purchase quota.
In the future, Pencils Protocol is expected to quickly welcome a large number of high-quality projects and new listings. Pencil points holders are expected to have priority access to chips for high-quality Launch projects and continue to obtain long-term benefits as the Scroll ecosystem and Pencils Protocol ecosystem develop.
The only tool for redeeming quotas in LaunchPad
Pencil points are tied to the Launch ecosystem
Pencils are the only tool to redeem the quota for the next project (e.g. the next launch project has a quota of 10w U, and the number of pencils a user has determines the weight he can purchase)
l Get Vaults with high leverage
The newly upgraded Pencils Protocol has launched Staking and Vault sections, where users can earn income by staking supported assets into the Staking pool, which will serve as the asset pool for leveraged mining by users in the Vault section. Leveraged mining is an innovative gameplay launched by Pencils Protocol, that is, users can borrow assets from Pencils Protocol Staking based on existing assets and use them for liquidity mining. In this mode, users need to pay interest on the loan to the Pencils Protocol Staking Pool.
One of the benefits of users holding Pencil points is that they can enjoy a higher multiple of loan leverage, which means that Pencil holders are expected to obtain higher leveraged mining income.
The Pencils points consumed for asset lending will be directly related to the amount and time of the funds you lend.
l Get Pencils Protocol airdrop
Previously, Pencils Protocol had launched the ecological token launch of its first asset, Pencils Protocol, and is currently still in the Season 2 stage of LaunchPad. Users can participate in the quota allocation by staking ETH. Currently, the amount of ETH staked in Season 2 has exceeded 1,000, and the TVL has exceeded US$3.25 million.
Pencils Protocol also made it clear that users who hold Pencil points are expected to receive various airdrops from Pencils Protocol, so this can be seen as a benefit exclusive to Pencil users.
l Cooperation project candy bag airdrop
As mentioned above, Pencils Protocol, as an important LaunchPad platform of the Scroll ecosystem, is expected to welcome a large number of projects to log in. In addition to being able to obtain discounts on Launch project quotas, Pencil points holders are also expected to receive candy pack airdrops from many cooperative projects. This is a double benefit for Pencil users, namely, quota discounts + airdrops. The users and funds brought by the Pencil points effect are also expected to provide full motivation for the launch of the LanuchPad project logged in to Penapd.
l Purchase corresponding props, NFT and other virtual or physical goods through Shop
In the newly upgraded Pencils Protocol, it also launched a Shop section, which supports users to purchase some props, NFTs (representing specific rights and potential assets), and even some physical assets. After accumulating points, users can choose to enjoy the benefits in the Pencils Protocol ecosystem, and can also choose to use Pencil points to redeem the above assets in the Shop. Through the Shop, Pencils Protocol is also expected to further establish links with the Web2 world, RWA and other fields to deeply expand the ecological boundaries and brand awareness.
It should be noted that when users enjoy the above-mentioned rights and interests, it will be regarded as the redemption of rights and interests, and Pencil points will also be consumed. In the future, it will also launch many creative ways of playing.
How do I get Pencil?
Currently, according to the Pencils Protocol rules, users can obtain Pencil points through two methods: Staking and Marketing.
Staking is the most direct way to obtain points. The more assets a user stakes and the longer the stake time, the more points he or she will get. The rule is that for every 100U of assets staked, 1 Pencil point will be awarded every 24 hours. At the same time, users can also obtain Staking income and Scroll points (certain special assets have a greater point weight).
In addition to staking, contributors to the Pencils Protocol ecosystem can also earn Pencil points. Users need to participate in designated marketing activities, which are determined based on specific activity values.
Influencers, volunteers, partners, etc. who contribute to the Pencils Protocol ecosystem will also receive points based on their contributions. It is also worth noting that in order to further protect the rights and fairness of all users, Pencil points will not support transfers and transactions, and are highly bound to the user's identity in the Pencils Protocol.
The launch of the Pencils Protocol points system represents the full launch of the Pencils Protocol's new ecosystem. It provides points rights and incentives to Pencils Protocol ecosystem users, allowing users to deeply bind with the ecosystem and establish stickiness. At the same time, it will also become a catalyst for the development and growth of the Pencils Protocol ecosystem. Similarly, Pencil will also be an important catalyst for the prosperity of the Scroll ecosystem. With the promotion of Pencil, a large number of users will participate in staking, and more assets are expected to be transferred from the external ecosystem to the Scroll ecosystem, which is of vital importance to the development of Scroll's ecological security and diversity. The ecological projects on Scroll are also expected to have an excellent start-up effect, which will provide long-term impetus for the prosperity of the Scroll ecosystem.
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