As the crypto landscape continues to evolve, certain new tokens showcase massive returns, and one such promising project is Pencil Project. This new project represents a potential goldmine of the digital age, poised to generate a 5000% ROI by 2025. Did you know that this project has reportedly provided a 1000% ROI already so far in 2024?
But what’s really fueling this bullish outlook? Well, let’s find out more.
Pencil Protocol, formerly known as Penpad, is the next-generation decentralized platform offering auction services for both blockchain-native assets and real-world assets (RWAs).
With farming, vaults, and auctions, Pencil Protocol offers innovative DeFi solutions for investors and users. The project’s advanced strategies for yield optimization and enabling dynamic bidding for high-value assets in the Web2 and Web3 spaces have highlighted Pencil Protocol’s mission to maximize asset utilization within the DeFi ecosystem. Since its launch in February 2024, Pencil Protocol has become one of the top three farming protocols in the ecosystem.
410K+ Active Users, $300M+ TVL
Pencil Protocol has reached over 410K active users, reflecting strong engagement and adoption. Additionally, with an impressive over $300 million in total value locked (TVL), it highlights the substantial liquidity and the project’s potential in the DeFi ecosystem. It’s worth noting that the project is showing significant growth potential, suggesting it could experience substantial increases in value and user base.
$DAPP, the native token of Pencil Protocol, acts as a central element. As the platform claims, it offers staking, rewards, high-leverage privileges, and project allocation opportunities. Additionally, it utilizes a deflationary buyback system for its $DAPP token, which aims to reduce token supply over time, potentially increasing the token’s value.
$80M Post-Money Valuation & Listing on OKX Cryptopedia
Pencil Protocol has recently reached an impressive $80 million post-money valuation after its strategic funding round led by Taisu Ventures, Bing Ventures, DePIN, and Black GM Capital, among others. This highlights the project’s long-term potential.
Previously, in mid-May 2024, top blockchain investor OKX Ventures also invested in Pencil Protocol in a strategic investment along with other investors including Animoca, Presto Labs, Gate Labs, and Sandy Peng (co-founder of Scroll).
While OKX Ventures had earlier invested in the company, the project is now set to be listed on OKX Cryptopedia on Monday. OKX Cryptopedia is a platform by OKX crypto exchange that lists $DAPPs and offers reward-earning opportunities for users. Historically, 60% of projects listed on OKX Cryptopedia eventually list on OKX exchange, indicating a high potential for further exposure and trading opportunities.
Token Sale on Tokensoft – Live on Wed, September 18
According to data, the $DAPP token sale for Pencil Protocol is set to launch on Tokensoft on September 18. However, the pre-sale phase is currently in progress, with available slots rapidly filling up. Tokensoft has shown an impressive surge, now reaching 35,000 registered users, and the cap is set for 5,000 investors on a first-come, first-served basis. The project is noted to be 6x oversubscribed.
Pencil Protocol is already among the top DeFi farming protocols globally. What’s more exciting is that Pencil Protocol is now integrated with Binance Web3 Wallet. As per the official announcement by Binance, 12 new dApps are live on Binance Wallet, and Pencil Protocol is one of them, which means users can directly access Pencil Protocol through their Binance Wallet.
Besides this, the project has strong fundamentals following its partnership with Scroll as it leverages zero-knowledge tech to enhance the scalability, privacy, and fairness of decentralized applications. It is also recognized as a leading DeFi (Decentralized Finance) protocol on Scroll ZKP, focusing on scalable, private development of dApps and their fair launch to redefine the Layer-2 sectors. The project is evolving into a full DeFi platform leveraging zkEVM technology.
Conclusively, Pencil Protocol, with massive growth potential, is poised to make substantial ROI. Moreover, the project is designed to be highly interoperable, employing rigorous audit processes and security measures to protect users’ assets and data. With these measures and its commitment to transparency and security, Pencil Protocol is making waves in top bulletins of the Web3 ecosystem.
Pencil Protocol’s $DAPP could be worth considering for a forward-looking portfolio.
