Gate Labs Announces Investment in Pencils Protocol to Promote Decentralized Financial Innovation

Odaily News According to official news, Gate Labs, the venture capital arm of Gate.io, announced a strategic investment in the decentralized finance (DeFi) platform Pencils Protocol. Pencils Protocol is a new generation of DeFi platform, focusing on providing auction and leveraged yield aggregation services for blockchain native assets and real-world assets (RWA), while leveraging the Scroll network's zero-knowledge technology to enhance the privacy and scalability of Layer-2 solutions. It is understood that this investment will be used for Pencils Protocol's product development, security audits, community building and scalability improvements, helping it to create more efficient and secure DeFi services. Gate Labs said that this investment is in line with its long-term strategic layout, aiming to promote technological innovation and application expansion in the DeFi ecosystem, and looks forward to Pencils Protocol playing a more important role in the field of decentralized finance.