Gate Labs announces investment in Pencils Protocol to promote decentralized finance innovation

According to ChainCatcher news, Gate.io's venture capital department, Gate Labs, announced a strategic investment in the decentralized finance (DeFi) platform Pencils Protocol. Pencils Protocol is a next-generation DeFi platform focused on providing auction and leveraged yield aggregation services for blockchain-native assets and real-world assets (RWA), while enhancing the privacy and scalability of Layer-2 solutions through the zero-knowledge technology of the Scroll network.

It is understood that this investment will be used for product development, security auditing, community building, and scalability enhancement of Pencils Protocol, helping to create more efficient and secure DeFi services. Gate Labs stated that this investment aligns 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 significant role in the decentralized finance sector.