Key Points
- Binance announces plans to list Scroll’s native token SCR for pre-market trading, claiming to be the first platform to do so.
- Scroll, an Ethereum Layer 2 network using zkEVM technology, is preparing for its token launch, with Binance offering early access through its Launchpool feature.
Binance Leads the Way in SCR Token Listing
Cryptocurrency exchange Binance is set to make waves in the Ethereum Layer 2 ecosystem by listing Scroll’s native token, SCR, for pre-market trading. In an announcement made on Tuesday, October 8, 2024, Binance claimed to be the first platform to offer this opportunity to traders and investors.
The pre-market trading for the SCR/USDT pair is scheduled to begin at 10 a.m. UTC on October 11. However, Binance has yet to disclose the end time for pre-market trading or the exact timing for the spot listing.
Launchpool Feature Offers Early Access to SCR
Prior to the pre-market listing, Binance is leveraging its Launchpool feature to provide users with early access to SCR tokens. Starting from October 9 at midnight UTC, users will have the opportunity to lock their BNB and FDUSD tokens to farm SCR airdrops over a two-day period.
Binance has set hard caps for the airdrops to ensure fair distribution:
- BNB pool: 97,395 SCR per user
- FDUSD pool: 17,187 SCR per user
The total SCR rewards available through the Launchpool amount to 55 million tokens, representing 5.5% of the total token supply.
SCR Token Economics and Availability
According to Binance, the Scroll token will have a total supply of 1 billion SCR. The initial circulating supply upon listing on Binance will be 190 million SCR, accounting for 19% of the total supply.
It’s important to note that the SCR token listing and associated features may not be available in all regions. Interested parties should check their eligibility based on their location.
Scroll’s zkEVM and the Future of Ethereum Scaling
While Scroll has not officially announced a specific launch date for its token, it was anticipated to occur within the current quarter. The project’s zkEVM (zero-knowledge Ethereum Virtual Machine) went live on mainnet in October 2023, marking a significant milestone in Ethereum scaling solutions.
To date, approximately 76,769 ETH (valued at $186 million) has been bridged to the Scroll platform, indicating growing interest and adoption of this Layer 2 solution.
zkEVMs, like Scroll, represent an important development in the Ethereum ecosystem. These Layer 2 networks utilize zero-knowledge proofs to enhance scalability while maintaining compatibility with existing Ethereum applications. This technology allows dApps to benefit from improved transaction speeds and lower fees without sacrificing the security guarantees of the Ethereum mainnet.
As Ethereum continues to grapple with scalability challenges, the success of projects like Scroll and the launch of their native tokens could play a crucial role in shaping the future of decentralized applications and DeFi ecosystems built on Ethereum.
