Pencils Protocol TVL has broken through 400 million US dollars, and the number of active users on the chain has exceeded 720,000, both setting new historical highs

The DeFi protocol of the Scroll ecosystem, Pencils Protocol, announced that its on-chain active users have exceeded 720,000 and TVL has surpassed $400 million, both setting historical records. In terms of yield farming, its total TVL ranks third across the entire network and first in the Scroll ecosystem.

Pencils Protocol is a DeFi platform on Scroll that has received investments from Web3 venture capital firms such as OKX Ventures, Animoca Brands, Galxe, Taisu Ventures.