Announcements Introducing Pencils Protocol (DAPP) on Startup Mining: Stake to Earn Mining Rewards!

Introducing Pencils Protocol (DAPP) on Startup Mining: Stake to Earn Mining Rewards!

2024-09-25 09:18:23 UTC 6619 Read

DAPP/USDT -5.18%

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About Gate.io Startup Mining Program
Startup Mining is a platform where users can stake their assets or provide liquidity to earn rewards in new project tokens. Users can lock specified tokens in the Startup Mining pool to receive corresponding project token rewards.
[Visit Startup Mining and learn more](https://www.gate.io/startup-mining?gt_disable_intercept_jump=1&needNavBar=0 "Visit Startup Mining and learn more")

1.Introduction to “Startup Mining” Project Pencils Protocol (DAPP) 
Pencils Protocol is the next-gen decentralized platform that offers auction services for blockchain native assets and RWAs, along with unified and leveraged yield aggregation services for users to maximize asset utilization.Pencils Protocol also serve as Scroll native gateway for liquid staking and restaking assets.
Powered by Scroll, Pencils Protocol redefines the Layer-2 sectors by utilizing Scroll’s zero-knowledge technology. We focus on scalable and private DeFi services, enhancing yield aggregation and farming. By leveraging the synergy between our launchpad and farming solutions, we aim to become the primary TVL gateway for the Scroll ecosystem.
Website: https://pencilsprotocol.io/

2.Pencils Protocol (DAPP) Startup Mining Rules
(1) Startup Mining Duration: 10:00 AM on September 27th - 10:00 AM on October 7th (UTC), 2024
(2) Mining Pool: DAPP
   -Total Staking Rewards: 13,333.0 DAPP
   -Prize Pool Per Hour: 55.55 DAPP
   -Hourly Reward Cap Per User: 3.89 DAPP
   -Minimum Staking Amount: 0.1 DAPP
   -Unlocking Rule: 100% Unlock

3.Participation Rules
(1) Users can join DAPP staking pool to earn rewards from DAPP pool.
(2) The system will take multiple snapshots of personal staking amounts hourly, and token rewards are distributed to eligible users. Hourly earnings will be distributed into users' spot accounts.
(3) Hourly staking reward = (Individual latest 1-hour valid staking amount / Total pool staking amount) × Hourly reward pool
(4) Users can increase or redeem the staked assets at any time during the staking period.

**4.Notice**
(1) The system will take multiple snapshots of personal staking amounts each hour, and take the average staking amount as the valid staking amount.
(2) After the staking ends, the staked assets will be automatically redeemed.
(3) After the user redeems in advance or the staking is completed, the staked assets will be transferred to Simple Earn by default. If this option is unchecked, the staked assets will be redeemed into spot assets. If the amount of redeemed assets is too small and does not meet the minimum subscription amount of Simple Earn, the assets will be automatically transferred to spot assets. Additionally, if Simple Earn does not support the subscription of the redeemed token, the assets will also be automatically transferred to spot assets.
(4) Before participating in Startup Mining, please ensure that you fully understand the participation rules. [Click here](https://www.gate.io/help/guide/faq/37021/startup-mining-faq "Click here") to learn more details.
(5) The use of duplicate accounts and any other cheating behaviors are strictly prohibited. Any cheating behavior will result in disqualification for receiving rewards.
(6) Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
(7) Gate.io reserves all rights to the final explanation.
(8) This event is not affiliated with Apple Inc. Users in the United Kingdom and other Restricted Locations cannot access the Services (including the participation in this event, game or competition). See the [User Agreement](https://www.gate.io/user-agreement "User Agreement") for further details on Restricted Locations.

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Gate.io Team
Sep 25th，2024

Introducing Pencils Protocol (DAPP) on Startup Mining: Stake to Earn Mining Rewards!

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