Gate Labs announced investment in Pencils Protocol to promote Decentralization finance innovation.

According to official sources, Gate Labs, the risk investment department of gate, announced a strategic investment in Pencils Protocol, a new generation of Decentralized Finance platform. Pencils Protocol focuses on providing auction and leveraged yield aggregation services for blockchain native assets and real world assets (RWA), while using the zero-knowledge technology of the Scroll network to enhance the privacy and scalability of Layer-2 solutions. It is understood that this investment will be used for the product development, security audit, community construction, and scalability improvement of Pencils Protocol, helping it to build more efficient and secure Decentralized Finance services. Gate Labs stated that this investment is in line with its long-term strategic layout, aiming to promote technological innovation and application expansion in the Decentralized Finance ecosystem, and looking forward to Pencils Protocol playing a more important role in the field of Decentralization Finance.