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Previously, the Scroll ecosystem LaunchPad & aggregated income platform Pencils Protocol (formerly Penpad) launched the Launch of its first asset, its ecosystem token PDD. The Season 2 event mainly allows users to obtain Point rewards by staking ETH tokens, component teams, etc., and based on the Points, they will be allocated the quota of PDD tokens after the end of Season 2.
It is reported that Pencils Protocol will end Season 2 on May 20th, and will also open the ETH token withdrawal function at the same time. The protocol contract will also strictly perform summary calculations on the final data of the Launch Pool in accordance with the Season 2 allocation rules, and automatically complete the deduction of the subscription amount. The PDD tokens allocated to users will also be uniformly distributed before TGE. Of course, in order to ensure that the user's team and members can fully subscribe to the PDD allocation they have obtained, it is recommended that the team leader remind the team members to pay attention to and increase the pledge amount in a timely manner to help a few team members avoid the situation where the allocation is automatically abandoned due to insufficient amount.
Season 2 is a fruitful season
In Season 2, Pencils Protocol has attracted a large number of users to participate in staking in a short period of time. The current TVL of the protocol has exceeded 3.29 million US dollars, and the subscription target has been exceeded by more than 150%, proving the market's high expectations for Pencils Protocol.
At the same time, the Pencils Protocol community has achieved rapid growth in a short period of time and now has more than 57,000 active interactive users. It has also successfully attracted more than 100 top KOLs from North America, Chinese, Japan, South Korea, Turkey, Vietnam and other regions to join, which will further promote stronger growth of the community.
In addition to the above achievements, Pencils Protocol has also received strong support from many industry partners and received investment from a series of institutional partners:
Pencils Protocol and OKX Wallet co-hosted Season 2 and jointly launched a series of Giveaway activities, which received enthusiastic responses and positive feedback from community members;
Pencils Protocol has attracted great attention and favor from many well-known investment institutions such as Scroll Co-founder Sandy, Animoca, Gate, Presto Labs, etc., and has successfully announced a series of financing news. More institutions are still being announced, which indicates that Pencils Protocol has been widely recognized and strongly supported by the industry;
l We have reached in-depth cooperation with more than 50 project parties, including leading media in different regions, industry-leading wallet service providers, and Web3 event platforms. These collaborations will drive Pencils Protocol to further expand its market share.
During Season 2, the newly-branded Pencils Protocol has further launched Staking, Vault, and Shop based on the original LaunchPad, and has transformed the ecosystem into a comprehensive yield aggregation protocol & asset auction platform that integrates aggregation functions, distribution, and leveraged yield products. These new gameplays will bring users a rich and substantial series of benefits in Season 3.
Season 3 is coming soon, Pencils Protocol's new revenue system is launched
In the upcoming Season 3 event, it launched three main core activities, including:
Activity 1: Jointly initiated by Pencils Protocol, Scroll, Trust, LRT and LSD protocols, Galxe, etc., super high APR incentives and high points will be provided to participating users during the activity.
Activity 2: In-depth cooperation with OKX Wallet to provide users with Scroll co-branded NFT rewards.
Activity 3, Pencils Protocol and ecosystem jointly form an airdrop alliance to provide multiple airdrop incentives for participants. The activity is expected to be officially launched on May 20, and the official activity announcement will be released at that time.
From these activities, users can expect multiple benefits:
Benefit 1: Pencils Points Rewards
During the S3 event, users can easily transfer ETH to S3 Staking with one click, and continue to deposit until TGE. The Points accumulated in the S2 stage will be converted into Pencils points according to a specific ratio and distributed separately as additional rewards after the event. If users withdraw their staked ETH tokens before TGE, they will lose the qualification to receive this additional reward.
Pencils points are the core proof of contribution of Pencils Protocol. New users need to actively participate in S3 Staking activities to obtain Pencils points. Specifically, for every $100 worth of assets staked, users can get 1 Pencils point every 24 hours. Users holding Pencils will enjoy the following important rights and interests:
1.100% of the specific amount of projects launched on Pencils Protocol will capture the huge potential project opportunities in the Scroll ecosystem.
2. Through the Pencils Protocol Shop, you can purchase or directly redeem various Defi tools (such as Yield speed boosting), NFTs, and RWA products
3. In the Pencils Protocol Vault, unlock higher leverage qualifications, further amplify your returns and gain priority airdrop opportunities from the Pencils Protocol Eco-Alliance.
In fact, as one of the main value entrances of the Pencils Protocol ecosystem, with the operation of the Scroll ecosystem value flywheel, a large number of projects will be logged on to its LaunchPad section, so Pencils points holders will receive a large number of airdrops and other incentives.
It is worth noting that in order to ensure fairness, Pencils points, as an ecological rights platform, are only bound to the user's identity and do not support the transfer of points.
Benefit 2: Scroll Points (Marks)
After users choose to transfer ETH to S3 Staking, they will not only receive Pencils rewards, but also Scroll Points (Marks). The specific weight of Scroll Points (Marks) will be directly related to the user's staked amount and staked duration.
From the perspective of staking time weight, the longer the user continues to stake in the Staking section, the higher the Scroll Points (Marks) weight will be. Therefore, if the user can continue to stake assets to S3 Staking until before TGE, he will get more Scroll Points (Marks), thereby enhancing his contribution to the project and the rights and interests he enjoys.
At the same time, the continuity of staking is equally important. If a user chooses to withdraw assets during the staking period, this will directly weaken their time weight coefficient, resulting in a significant discount in the weight of previously accumulated Scroll Points (Marks), and may even result in the loss of part or all of the rewards already obtained. Therefore, the best way for users to get this benefit is to continue staking and increase the amount of staking.
Benefit 3: Super high APR
During the S3 event, the Scroll Foundation will provide users who participate in the Pencils Protocol Staking Pool with attractive dynamic incentives, with an APR of up to 25%. Therefore, while users earn Pencils and Scroll Points, they can also enjoy high returns on single-coin deposits that far exceed the industry average.
Benefit 4: Ecological Alliance Airdrop
During the event, all users who participate in S3 Staking will be 100% eligible for Pencils Protocol Genesis airdrops. In addition, partners will continuously provide airdrop incentives to the Staking pool, and users can flexibly withdraw a variety of tokens from the Staking pool as additional airdrop income.
Further exploration of S3: Participate in Pencils Protocol Restaking and get high-multiple Points income of Eigenlayer & LRT/LSD>>>
The new section of Pencils Protocol will be able to be further integrated with some LSD, Restaking protocols, etc. to help the Scroll ecosystem capture liquidity, improve network security, and bring further benefits to users.
During the event, users can also earn more Points through Restaking - stake additional ETH through Puffer or StakingStone, and then stake pufETH or Stone to Pencils Protocol staking, and get the following multiple Points at the same time:
Eigenlayer Points and twice the Puffer Points (requires staking pufETH)
Triple StakeStone W1 Points (Requires staking $Stone, 3x Points in the first 10 days, 2x Points after 10 days)
So overall, Season 2 and Season 3 are becoming the stepping stones for users to capture a lot of profits from the development dividends of the Pencils Protocol and Scroll ecosystem, and they are also the best entry points for users to capture a lot of profits and rights.