The Scroll ecosystem has recently made remarkable progress, first with SCR launching the pre-market trading section on Binance, allowing users to trade SCR as pre-market assets, and directly converting to spot after the SCR token TGE, bringing significant market attention and new users to Scroll. As the Scroll ecosystem gains popularity, Pencils Protocol, as the leading protocol in this ecosystem, is also continuously gaining traction and market attention.
In fact, since the release of the Beta version of Pencils Protocol's product in February this year, it has attracted significant market interest and has developed rapidly. As of now, Pencils Protocol has surpassed $400 million in TVL due to its innovative yield aggregation and Restaking platform advantages, consistently ranking first in TVL within the Scroll ecosystem and serving as an important liquidity hub.
This protocol is not only the fastest-growing in terms of single-chain TVL but also ranks third among all Farming projects in terms of TVL, making it a true unicorn ecosystem. Meanwhile, the number of active users of Pencils Protocol has reached 750,000, establishing it as the undeniable traffic entry point for the Scroll ecosystem. With the increasing popularity of the Scroll ecosystem, this is a significant advantage for the development of Pencils Protocol.
Following SCR, will DAPP also successively log into top exchanges?
In fact, in the recent period of overall narrative absence in the crypto market and a generally low market sentiment, CEXs are eager to seek new hotspots to continuously bring new traffic to their platforms. For example, the explosive popularity of TON mini-games and the new wave of meme coins have led top CEXs to rush to list related concept coins to gain an early advantage. Therefore, CEXs have a high tolerance for projects or market segments that are gaining popularity.
Indeed, with SCR's upcoming TGE and listing on Binance, not only is the SCR token attracting market attention, but the Scroll ecosystem is also becoming a new market hotspot. From the perspective of the Scroll ecosystem, as a liquidity hub and traffic entry point, Pencils Protocol has naturally become the sole focus of high attention within the Scroll ecosystem.
From the CEX's perspective, to fully capitalize on the popularity of the Scroll ecosystem, the first step is to list the SCR token immediately after the TGE, and the second is to continue to explore the Scroll ecosystem. It is evident that Pencils Protocol's DAPP has become the optimal choice. Looking at the Pencils Protocol project itself, its $400 million TVL, 750,000 active users, and backing from well-known institutions such as OKX Ventures, Animoca, Gate.io Labs, Presto Labs, AQUARIUS, Agarwood, Taisu Ventures, DePIN X, Bing Ventures, and Black GM Capital provide a solid foundation for Pencils Protocol to list on major exchanges. Therefore, for the DAPP token, there is every reason to believe that after already logging into well-known platforms including Gate and Bitget, it will continue to log into top-tier CEX trading platforms.
Currently, DAPP has already logged into the leading Korean trading platform CoinOne, thereby entering the Korean market to expand its ecosystem, which may be an important sign of Pencils Protocol's continued expansion, and will also serve as a significant starting point for DAPP to further list on more top CEXs, becoming a positive signal.
Of course, the benefits of the Pencils Protocol ecosystem do not stop there.
The expansion of Pencils Protocol's ecosystem business continuously enhances the ecosystem's moat.
Pencils Protocol has planned for the recent development of the ecosystem's business, continuously enhancing the ecosystem's moat to build a more solid value foundation.
- BTC ecosystem asset integration
Currently, we see that Pencils Protocol's Farming section has actively expanded into the BTCFi ecosystem through collaborations with Babylon and Solv, aiming to bring the BTC value system into the ecosystem.
In fact, with the launch of the Babylon Bitcoin staking mainnet Cap-2, the TVL of BTC LRT assets integrated into Pencils Farming has reached $160 million, accounting for over 40% of the total TVL. With the collaboration with Solv Protocol, Pencils Protocol is also gaining a higher voice in the BTCFi LRT field.
Pencils Protocol is expected to integrate more BTCFi ecosystem assets in the future, further promoting the secondary growth of Pencils' BTC ecosystem assets. The comprehensive expansion into the BTCFi ecosystem will also bring incremental users and funds to the Pencils Protocol ecosystem.
- Potential upcoming Pencils Auction product
Pencils Auction is a business segment in product planning and is a relatively novel Launchpad product. With the launch of the Vaults product, the Auction product is also expected to be introduced to the market soon.
In fact, compared to traditional IDO platforms like Daomaker, Auction places more emphasis on rewarding users who contribute to Pencils, such as those holding DAPP tokens, becoming LPs in the Vaults section, or users of Pencils Point, who can gain early rights in the Auction's LaunchPad section. As more native assets from Scroll are released, Auction may soon be able to take center stage.
- Empowering native assets of the Scroll ecosystem
Currently, the Scroll ecosystem is still in its early development stage. With the maturation of the tech stack and market progress, the DeFi system of the Scroll ecosystem will rapidly develop, and a large number of native and underlying assets will continue to be launched. We see that Pencils, as the liquidity hub and traffic entry point of the Scroll ecosystem, will successively accommodate Scroll's underlying and native assets, leveraging the asset management and aggregation advantages of Pencils Farming and Vaults to provide liquidity distribution and reuse, maximizing returns and enhancing ecosystem efficiency.
As the business expands, Pencils will also deepen the usage scenarios and burning scenarios of DAPP, providing profound empowerment for the value accumulation of the DAPP token.
- More diversified value capture under the potential multi-chain trend
For DeFi protocols, multi-chain development is an important way to horizontally expand the ecosystem and capture more users. For Pencils Protocol, multi-chain development may also be a future trend.
In the future, through integration with more mainstream public chain ecosystems, more ecological liquidity is expected to be incorporated into Pencils' asset sequence, further expanding the ecosystem's compatibility and flexibility. This will not only help attract a broader user base and partners but also enrich the role of the DAPP token in the DeFi market, providing a foundation for more value scenarios.
Overall, whether it is the current basic status of the business, short-term ecosystem business planning, or long-term ecosystem development expectations, all will further enrich the fundamentals of the Pencils Protocol ecosystem and continuously bring positive points to ecosystem users. This will be a strong basis for DAPP to continue logging into major CEXs, so as a series of positive developments approach, hold onto your DAPP and wait for takeoff.