Binance, the well-known cryptocurrency exchange, has announced the launch of Scroll (SCR) as its 60th project on Launchpool, with pre-market trading set to begin on October 11, 2024. Scroll is a layer-2 scaling solution built on Ethereum’s zKEVM (Zero-Knowledge Ethereum Virtual Machine) technology, addressing significant scalability issues by utilizing zero knowledge proofs to bundle transactions off-chain, thereby reducing costs and processing times.
Introducing @Scroll_ZKP Scroll (SCR) on Binance Launchpool and Pre-Market.
Read more ⤵️https://t.co/DXCpZ0clOE
— Binance (@binance) October 8, 2024
Scroll’s unique features include a hierarchical zero-knowledge proof system and the ability to integrate with other layer-2 networks, enhancing interoperability among decentralized applications (dApps). This positions Scroll as a promising solution for Ethereum’s congestion and high gas fees, ultimately improving user experience in the dApp ecosystem.
Scroll posted a cryptic video on its X, back in early September 2024, which may have been a subtle hint at its upcoming listing on Binance.
Binance Launchpool Details
The farming period for SCR tokens on Binance starts on October 9, 2024, at 00:00 UTC and concludes on October 10, 2024, at 23:59 UTC. Users can lock their BNB and FDUSD in dedicated pools to earn SCR tokens. The total token supply is 1 billion SCR, with 55 million SCR (5.5% of the total supply) allocated as Launch pool rewards. Participants can earn up to 97,395 SCR from the BNB pool and 17,187 SCR from the FDUSD pool.
Pre-Market Details
Following the farming period, Scroll’s SCR token will be listed on Binance Pre-Market on October 11, 2024 at 10:00 UTC. The SCR/USDT trading pair will be available, allowing users to trade SCR against Tether. This pre-market trading period will conclude at least four hours before the official spot listing, ensuring a seamless transition. Point to note here is that this service is not available in all regions.
With a total supply for 1 billion SCR, Scroll aims to revolutionize how developers interact with Ethereum, offering lower transaction costs and faster speed while maintaining compatibility with existing Ethereum infrastructure. As the demand for efficient blockchain solutions grows, Scroll’s innovative approach could play a crucial role in Ethereum’s future scalability.
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