Binance to introduce Scroll token for pre market trading
Binance announced on Tuesday that it will be the first platform to list Ethereum Layer 2 network Scroll's native token SCR for pre-market trading.
The project will also be added to Binance Launchpool prior to the pre-market listing, allowing users to lock their BNB and FDUSD to farm SCR airdrops over two days starting on October 9 at midnight UTC.
The Scroll token will be worth 1 billion SCR in total, with 55 million, or 5.5%, coming from Binance's Launchpool rewards. The initial circulating supply, when listed on the crypto exchange, will be 190 million SCR, or 19% of the total supply.
On October 11, at 10 a.m. UTC, Binance will list SCR and begin pre-market trading for the SCR/USDT pair. However, the offer is not available in all regions, and the pre-market end time and spot listing time have not yet been disclosed.
The user's country or region of residence determines their eligibility to participate in Binance Pre-Market.
Scroll’s zkEVM live on mainnet
Although a specific launch date for Scroll's token has not been made official, it was anticipated to happen this quarter. Since its launch on the mainnet in October 2023, Scroll's zkEVM has bridged 76,769 ETH ($186 million) to the platform. Because the blockchain uses zero-knowledge technology and works with the Ethereum Virtual Machine (EVM), developers can more easily migrate their Ethereum apps to the new "zkEVM" network.
zkEVMs are networks capable of supporting Ethereum applications and operating at scale because they are compatible with Ethereum Virtual Machines.
What is Scroll?
Although Ethereum has the most active ecosystem, it is costly and congested. Scroll is a Layer 2 zkRollup solution that scales Ethereum more quickly and cheaply without sacrificing compatibility or security by utilizing zero-knowledge-proof technology. Scroll's native utility and governance token is called SCR.
The aim of Scroll is to integrate billions of users into the Ethereum ecosystem, establish itself as the most reliable and secure Layer 2 network for processing trillions of dollars on-chain, and serve as the default location for new developments.
Binance’s first pre-market trading token
Binance's first pre-market trading token appears to be SCR. The purpose of Binance Pre-Market is to provide users with early access to a selection of Binance Launchpool tokens.
By prolonging the tokens' life cycle and providing early market entry, the service helps both Binance users and token projects. Binance users can keep subscribing for Launchpool as usual after a project is chosen for pre-market trading, and they will get their allotted tokens.
Some regions, such as the United States, Canada, Dubai, Japan, the Netherlands, Russia, and Spain, do not offer the service due to regulatory restrictions.
Disclaimer
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