Pencils Protocol completes a new round of financing with a valuation of $80 million and will launch an advanced insurance vault and auction platform.
Powered by ChatGPTAccording to official sources, on September 2, TechFlow News reported that the Scroll ecosystem project Pencils Protocol announced the completion of a new round of financing with a valuation of $80 million. Institutions such as Taisu Ventures, DePIN X, Bing Ventures, and Black GM Capital participated in the investment.
Pencils Protocol is currently the top-ranked native project in the Scroll ecosystem TVL. It is a one-stop yield aggregator and auction platform based on Scroll, including asset aggregation and distribution, leveraged yield, auctions, etc., aiming to maximize the utilization of user assets. Pencils Protocol plans to launch an advanced insurance vault and an innovative auction platform to revolutionize the field of yield optimization and asset auctions.
Previous news reported that Pencils Protocol completed a $2.10 million seed round financing in May, with investors including OKX Ventures and Animoca Brands, among others.