SINGAPORE, May 17, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading Web3 technology company OKX, has issued updates for November May 17, 2024.

OKX Ventures Announces Investment in Pencils Protocol, Pioneering a New Chapter in the Scroll Ecosystem

OKX Ventures today announced its investment in Pencils Protocol, the next-gen decentralized platform that offers auction services for blockchain-native assets and real-world assets (RWAs), along with unified and leveraged yield aggregation services for users to maximize asset utilization.

As one of the largest native DeFi projects within the Scroll ecosystem, Pencils Protocol serves as an all-in-one yield aggregator and auction platform. Its functionalities include launchpad, asset aggregation and distribution, and leverage yields.

Through close collaboration with Scroll, Pencils Protocol has redefined Layer 2 solutions using zero-knowledge technology, focusing on scalable private dApp development and fair distribution principles. This initiative not only brings users a more efficient and secure trading environment but also injects new vitality and momentum into the ongoing development of the Scroll ecosystem.

The founding team of Pencils Protocol is confident in this collaboration and pledges to continue delivering superior products and services to users. They see this investment as an opportunity to accelerate technological research and development and product promotion, thus contributing to the growth and enhancement of the Scroll ecosystem.

To learn more about Pencils Protocol, click here.

For further information, please contact:
Media@okx.com 

About OKX Ventures

OKX Ventures is the investment arm of leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

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SOURCE OKX Ventures