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Pencils Protocol Token Price

(DAPP)

AUD(A$)

Note: This cryptocurrency has not yet been officially listed on KuCoin.

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Pencils Protocol Token (DAPP) Live Price Chart

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    About Pencils Protocol Token

    • What Is Pencils Protocol (DAPP) Crypto?

      Pencils Protocol is a decentralized platform that provides auction services for blockchain assets and real-world assets (RWAs). It focuses on yield aggregation and offers leveraged farming services, using Scroll’s zero-knowledge technology. The protocol aims to become a key player in the Scroll ecosystem, offering products like farming, enhanced liquidity pools, synthetic assets, NFT launches, and on-chain loyalty programs.

       

      The native token of Pencils Protocol is $DAPP. This token is primarily used for governance, staking, auction platform collateral, and accessing various benefits within the ecosystem. Staking $DAPP allows you to participate in farming, gain access to exclusive strategy products, and use it as collateral for auctions. The token is now available for purchase, but users are advised to be cautious of fraudulent websites during the buying process​.

    • How Does Pencils Protocol Work?

      Pencils Protocol is a decentralized platform on the Scroll ecosystem that offers farming, auctions, and staking services. It provides opportunities to deposit assets like ETH, WBTC, stablecoins, and its own token, $DAPP. Here's how it works:

       

      1. Farming: You can deposit tokens into Pencils Protocol's vaults, where your assets are pooled and lent to borrowers. This generates yield from the interest paid by borrowers. The interest rate is dynamic, adjusting based on the pool's utilization to reward depositors fairly. In addition to this yield, you earn points like Pencils and Scroll points that unlock extra benefits on the platform.

       

      2. $DAPP Token: $DAPP is used for governance, staking, and collateral within the platform. Staking $DAPP gives you privileges like higher leverage in vaults, access to exclusive products, and participation in auctions. By staking, you also receive $pDAPP, which can be further staked or used to provide liquidity.

       

      3. Auctions: To list assets on the auction platform, sellers must stake $DAPP as collateral, ensuring security and community oversight in the auction process.

       

      4. Point System: Early adopters of the protocol receive Pencils points linked to $DAPP, granting access to farming methods and exclusive policies, fostering community engagement.

       

      Through these mechanisms, Pencils Protocol aims to maximize asset utilization and provide rewards to its users while expanding the Scroll ecosystem.

    • History of Pencils Protocol and DAPP Coin

      Pencils Protocol was launched in March 2024 as a decentralized platform for auction services, yield aggregation, and staking in the Scroll ecosystem. Initially known as PenPad, it later rebranded to Pencils Protocol to reflect its expanded offerings beyond just an IDO launchpad. The protocol focuses on leveraging Scroll's zero-knowledge technology to provide enhanced DeFi services. By September 2024, it had achieved a total value locked (TVL) of approximately $319 million, becoming the top DeFi platform in the Scroll ecosystem.

       

      The project is backed by prominent investors such as OKX Ventures, Animoca Brands, and Gate Labs. It has a comprehensive roadmap for 2024, starting with the platform's launch and its staking and vault product beta in Q2. In Q3, the protocol introduced features like diversified launch products and the Pencils Protocol Shop for multi-chain transactions. In Q4, it focuses on community-led initiatives and providing technical support for new projects.

       

      The protocol uses its $DAPP token for governance, collateral in auctions, and staking privileges. You earn rewards and benefits within the ecosystem by participating in staking and farming activities. The Pencils points system also plays a crucial role, providing additional incentives and privileges to community members.

    • What Is DAPP Token Used for?

      The Pencils Protocol (DAPP) token serves multiple purposes within the Pencils Protocol ecosystem:

       

      1. Governance: It allows you to participate in community voting, influencing decisions related to development, interest rates, policies, and emergency measures.

       

      2. Token Farming: By staking $DAPP, you earn $pDAPP, an equity certificate token at a 1:1 ratio. Staking $pDAPP can generate additional subsidies and liquidity on decentralized exchanges.

       

      3. Auction Collateral: If you want to list assets on the auction platform, you need to stake $DAPP as collateral, which helps safeguard against malicious activities. If misconduct occurs, the staked $DAPP is redistributed to community members.

       

      4. Vault Privileges: Staking $DAPP gives you access to benefits like higher leverage and priority access to limited products in the protocol's vaults.

       

      5. Financial Services: $DAPP is integrated into various DeFi products, allowing you to provide liquidity, borrow, or stake to earn rewards.

       

      6. Point System: Early adopters earn Pencils points tied to $DAPP, unlocking new farming methods, exclusive policies, and other benefits.

       

      7. Shop: You can use $DAPP in the virtual shop to trade NFTs, real-world assets (RWAs), and other digital products within the ecosystem.

       

      In addition, you can trade Pencils Protocol token against other cryptocurrencies listed on the KuCoin Spot Market after doing your own research (DYOR). Based on your investment goals and risk tolerance, you can buy, sell, or HODL $DAPP in your portfolio.

    • What Is Pencils Protocol Tokenomics?

      The total supply of Pencils Protocol token is 100 million DAPP tokens, distributed as follows:

       

      > Treasury (10%): 10 million DAPP with an 18-month linear vesting schedule.

       

      > Early Supporters (16%): 16 million DAPP, with 15% unlocked at the Token Generation Event (TGE) and a 12-month linear vesting.

       

      > Public Sale (20%): 20 million DAPP available for sale.

       

      > Ecosystem Incentives (20%): 20 million DAPP with an 18-month linear vesting period to support ecosystem growth.

       

      > Community (15%): 15 million DAPP allocated to the community, vested over 18 months.

       

      > Core Contributors and Advisors (12%): 12 million DAPP, with a 3-month cliff and 18-month vesting period.

       

      > Airdrop (3%): 3 million DAPP for community rewards.

       

      > Marketing and Liquidity Provision (4%): 4 million DAPP to support marketing and liquidity initiatives.

    • How to Participate in Pencils Protocol Airdrop

      To participate in the Pencils Protocol (DAPP) airdrop, follow these steps:

       

      1. Visit the Pencils Protocol Platform: Go to the Pencils Protocol website and connect your wallet. Make sure you switch to the Scroll network.

       

      2. Stake Assets: Deposit at least $100 worth of supported assets like ETH, USDC, USDT, rsETH, puffETH, or Stone. For every $100 you stake, you earn 1 Pencil point per hour, which increases your eligibility for the airdrop. Holding the stake for longer periods can earn you badges, boosting your rewards.

       

      3. Earn Points: Participate in various activities on the platform, such as marketing, ecosystem contributions, or ambassador programs, to earn more Pencil points. These points grant you access to favorable token allocations and priority placement in the airdrop.

       

      4. Verify Your Identity: On the profile page, verify your identity using platforms like Google, Twitter, GitHub, or Aspecta to mint the SOUL NFT. Completing the Pencils ZK Verification after the specified date is necessary to qualify for the airdrop.

       

      5. Complete Galxe Tasks: Engage in additional tasks released by Pencils Protocol on Galxe for more points and rewards.

    FAQ

    Is Pencils Protocol (DAPP) a Good Investment?

    Pencils Protocol's steady growth, innovative features, and strong backing make it a potentially attractive option for investors looking for opportunities in the DeFi sector: 

     

    1. High ROI: Pencils Protocol has provided a 1000% return on investment (ROI) in 2024, and projections suggest the potential for a 5000% ROI by 2025. Early investors can benefit from significant gains as the project expands.

     

    2. Strong Ecosystem: Pencils Protocol is the top DeFi project within the Scroll ecosystem, offering a variety of services, including yield farming, staking, liquidity staking, and liquidity vaults. This diversified platform makes it a key player in decentralized finance (DeFi).

     

    3. Active User Base: The platform has a growing user base of over 459,000 active users, highlighting its popularity and engagement within the crypto community.

     

    4. Deflationary Buyback Mechanism: Pencils Protocol employs a deflationary buyback mechanism for the $DAPP token, which helps maintain a healthy economy and supports the token's value over time.

     

    5. Partnerships and Backing: Pencils Protocol is backed by prominent investors like OKX Ventures, Animoca Brands, and Gate Labs. Its partnerships with the Scroll ecosystem and integration with Binance Web3 Wallet enhance its credibility and reach.

     

    6. Unique Features: The protocol offers innovative products, including an auction platform, yield farming, and a community points system ("Pencils") that incentivizes user participation. This provides investors with exclusive benefits, like early token allocations and access to high-leverage liquidity mining.

    What Is Pencils Protocol Price Prediction?

    The DAPP price prediction is influenced by several factors, including: 

     

    1. Total Value Locked (TVL): A high TVL, currently over $300 million, shows strong platform engagement and usage, directly impacting the Pencils Protocol price. Investors often see TVL as an indicator of the protocol's health and reliability​.

     

    2. Platform Utility: $DAPP has multiple uses, including governance, staking, auction collateral, and point system rights. The ability to earn rewards, higher leverage in liquidity mining, and exclusive access to products boosts demand for the token, which can influence the DAPP to USD price.

     

    3. Token Sale Demand: During its recent token sale, Pencils Protocol saw high demand, with over 35,000 registrations compared to the original 5,000 user cap. This oversubscription suggests strong investor interest, affecting the token's market performance after listing​.

     

    4. Partnerships and Backing: The protocol's backing by notable investors like OKX Ventures, Animoca Brands, and Gate Labs adds credibility, which can positively impact the DAPP token price. Additionally, partnerships with ecosystems like Scroll provide increased use cases and integrations, supporting the $DAPP price.

     

    5. Deflationary Mechanism: Pencils Protocol has a deflationary buyback mechanism for $DAPP, which helps maintain its scarcity and potentially boosts the DAPP crypto price over time.

     

    6. Market Trends: As a part of the DeFi sector, $DAPP's price can also be influenced by broader market trends, including the performance of the DeFi space and investor sentiment around IDO launchpads and yield farming protocols​.

     

    Understanding these factors will help you gauge how the DAPP coin price might change in response to market dynamics and platform developments.

    How to Earn on Pencils Protocol

    You can earn on Pencils Protocol in the following ways:

     

    1. Farming: Deposit supported assets like ETH, WBTC, stablecoins, and the $DAPP token into Pencils Protocol Vaults. Your funds are pooled and lent to borrowers, and you earn a yield from the interest paid by these borrowers. The interest rate adjusts dynamically based on the pool's utilization, ensuring competitive returns. Additionally, you earn Pencils points and Scroll points, which can unlock more benefits on the platform. 

     

    2. Staking: Stake your $DAPP tokens in Pencils Protocol Farms to receive $pDAPP at a 1:1 ratio. Staking $pDAPP allows you to earn subsidies and provide liquidity on decentralized exchanges (DEX), generating additional income.

     

    3. Auction Platform: Participate in the auction platform by staking $DAPP. This not only provides security for the platform but also allows you to engage in auctions for various assets.

     

    4. Vault Privileges: By staking $DAPP in vaults, you gain points that provide access to higher leverage and priority access to limited strategy products, potentially maximizing your returns. 

     

    5. Virtual Shop: Use $DAPP to trade NFTs, real-world assets, points, and derivatives in the virtual shop, expanding the use of your holdings within the ecosystem. 

     

    These methods allow you to take advantage of the opportunities within Pencils Protocol to maximize your earnings. For more information, you can visit the official documentation on Pencils Protocol’s platform.

    How do I store Pencils Protocol Token (DAPP)?

    You can store your Pencils Protocol Token in the custodial wallet of a cryptocurrency exchange without having to worry about managing your private keys. Other ways to store your DAPP include using a self-custody wallet (on a web browser, mobile device, or desktop), a hardware wallet, a third-party crypto custody service, or a paper wallet.