---
title: "Yield Farming and Auction Focused Pencils Protocol Reached $80M Post-Money Valuation in Its Recent Funding"
url: https://diffcoin.com/yield-farming-and-auction-focused-pencils-protocol-reached-80m-post-money-valuation-in-its-recent-funding/
description: "Yield Staking and Auction-focused Pencils Protocol announced the successful completion of its strategic round of fundraising, which has propelled to an"
published: 2024-09-09
updated: 2024-09-09
author: "Mila"
site: "Diffcoin"
---

# Yield Farming and Auction Focused Pencils Protocol Reached $80M Post-Money Valuation in Its Recent Funding

**[PRESS RELEASE – Singapore, Singapore, September 9th, 2024]**

Yield Staking and Auction-focused Pencils Protocol announced the successful completion of its strategic round of fundraising, which has propelled to an impressive $80 million post-money valuation. This round was led by Taisu Ventures, DePIN X, Bing Ventures, and Black GM Capital etc.

Pencils Protocol has been on a mission to revolutionize the decentralized finance (DeFi) landscape. With innovative products like Farming, Vaults, and Auctions, Pencils Protocol created a platform that not only offers robust financial tools but also empowers users to take control of their financial future. Their success is rooted in the support of the community — over 400,000 active users and a staggering $300 million in Total Value Locked (TVL) demonstrate the impact they have made in the DeFi space.

> “We believe Pencils Protocol is well-positioned to contribute meaningfully to the growing Scroll ecosystem. Their use of Scroll’s zero-knowledge technology, combined with a focus on scalable and private DeFi services, aligns with our strategy of supporting innovative infrastructure in the Layer-2 space. Pencils Protocol’s offering of auction services, yield aggregation, and restaking presents a practical solution for enhancing asset utilization. We are confident in their ability to create value within the Scroll ecosystem through a measured, technology-driven approach.” — Takashi Hayashida, Managing Partner at Taisu Ventures

Moving forward, Pencils Protocol is thrilled to share the launch of its latest innovations: advanced multi-strategy Vaults, dynamic Auction and Shop products. These tools are designed to offer more sophisticated strategies for yield optimization and facilitate dynamic bidding for high-value assets across both Web2 and Web3, contributing further to the protocol’s goal of enhancing asset utilization within the DeFi space.

## About Pencils Protocol

Pencils Protocol is a next-generation decentralized platform offering innovative DeFi solutions, including leveraged yield aggregation, auction services for blockchain and real-world assets (RWAs) and more. In partnership with Scroll, Pencils Protocol leverages zero-knowledge technology to enhance the scalability, privacy, and fairness of decentralized applications.

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