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Binance has introduced Scroll (SCR) as its 60th Launchpool project. Scroll, a zkEVM Rollup solution, is designed to enhance Ethereum’s scalability. Binance will allow participants to stake their BNB and FDUSD to earn SCR tokens through airdrops during the farming period. In this guide, we will learn everything about Scroll (SCR) and Binance SCR token distribution.
Key Takeaways:
- Scroll (SCR) is a bytecode-compatible zkEVM rollup designed for Ethereum scalability.
- Binance Launchpool farming for Scroll starts on October 9, 2024, offering 55 million SCR as rewards.
- Pre-market trading for Scroll will begin on October 11, 2024, with an SCR/USDT trading pair.
What is Scroll (SCR)?
Scroll (SCR) is a blockchain layer-2 scaling solution that focuses on improving the scalability of Ethereum. Currently, it is Binance’s 60th Launchpool project, built as a Bytecode-compatible zkEVM Rollup.
It enhances Ethereum’s scalability by using zero-knowledge proofs while maintaining full compatibility with Ethereum Virtual Machine (EVM). This means it can execute Ethereum smart contracts without compromising on speed, security, or compatibility.
How Scroll (SCR) Works?
Scroll works by utilizing zk-Rollups, a Layer 2 scaling technology designed to reduce congestion on the Ethereum mainnet. It allows multiple transactions to be bundled into one, which is then submitted to the Ethereum network.
This not only reduces the load on Ethereum but also ensures that transactions are processed more quickly and with lower fees. The core aim is to improve the overall user experience on Ethereum without compromising on security.
By leveraging zk-Rollups, Scroll ensures that even though transactions are processed off-chain, they are still verifiable on the Ethereum mainnet. This provides a balance between efficiency and trust. For you, this means faster transactions with reduced fees, making decentralized applications (dApps) more accessible and cost-effective.
Scroll Key Features
Scrolls’ ZkEVM offers many features such as:
- Scalability: It enhances scalability by processing more transactions off-chain. This reduces network congestion, allowing you to experience faster transaction times.
- Bytecode Compatibility: It offers full compatibility with Ethereum, enabling developers to migrate projects effortlessly.
- Cost-Efficiency: By bundling multiple transactions together, the network fees are minimized, making it more affordable for you to use dApps and other services.
- Security: The use of zk-Rollups ensures that all transactions processed off-chain are still verifiable on-chain. This means that even though the system is optimized for speed, it does not compromise the security of your transactions.
Binance Scroll Launchpool and Pre-Market Trading
Binance Launchpool offers a way for you to earn new tokens by staking specific cryptocurrencies. Scroll (SCR) is the 60th project on this platform. You can participate in farming SCR tokens by staking BNB and FDUSD on Binance Launchpool. The staking period allows you to passively earn SCR tokens, which will be distributed at the end of the farming period.
- Total Token Supply: 1 billion SCR.
- Launchpool Rewards: 55 million SCR (5.5% of the total supply) will be the initial circulating supply on Binance distributed among participants.
- Hourly Cap: Up to 97,395 SCR can be earned from the BNB pool and 17,187 SCR from the FDUSD pool during the farming period.
After the farming period concludes, Binance will list the SCR/USDT trading pair in its Pre-Market on October 11, 2024, at 10:00 UTC.
What is Binance Pre-Market?
Binance Pre-Market is an exclusive offering from Binance that allows you to trade tokens before they are officially listed on the market. This gives you an early opportunity to access new projects and tokens like Scroll (SCR), which can help you secure better prices before the general public starts trading.
Conclusion
In conclusion, Scroll (SCR) offers a promising solution to Ethereum’s scalability issues by using zk-Rollups. It focuses on reducing transaction fees, improving scalability, and maintaining security, making it an attractive project for you. Through Binance Launchpool, you can stake cryptocurrencies like BNB and FDUSD to earn SCR tokens.
