Kelly
Editor
Editor
Binance has introduced Scroll (SCR) as its 60th project on Launchpool, spotlighting this Layer 2 solution that enhances the Ethereum blockchain through zkEVM and ZK-Rollup technologies. Participants can farm SCR tokens by staking BNB and BUSD, with the event fostering broad participation to mitigate market manipulation risks. SCR’s strategic distribution aims to boost long-term value and usability across DeFi, gaming, and NFT platforms.
The 60th addition to Binance’s Launchpool platform, Scroll (SCR), was unveiled on October 7, 2024. This announcement represents a significant advancement in the cryptocurrency exchange’s continued efforts to assist cutting-edge blockchain initiatives. With the use of Zero-Knowledge Ethereum Virtual Machine (zkEVM) and ZK-Rollup technologies, SCR is a Layer 2 solution that aims to improve Ethereum blockchain efficiency. It offers security, scalability, and efficiency for various DeFi, gaming, and NFT applications.
Scroll is a Layer 2 scaling solution that seeks to transform how transactions are handled on the Ethereum network. It processes transactions off the main Ethereum chain using cutting-edge zkEVM and ZK-Rollup technologies, guaranteeing quicker and more affordable transactions while upholding Ethereum’s well-known security and decentralisation. Scroll removes significant obstacles in the DeFi, gaming, and NFT sectors by enabling more scalable, effective, and secure blockchain applications. This might be a game-changer for developers and companies wishing to use blockchain technology for interactive, high-throughput apps.
By staking Binance Coin (BNB) or Binance USD (BUSD), users can harvest fresh tokens through Binance Launchpool. With Scroll, users may lock their BNB and BUSD to harvest SCR tokens during a two-day event that begins at midnight UTC on October 9 and ends at 23:59 UTC on October 10. This is a unique chance for participants. This program facilitates wider distribution and community involvement by giving Binance users early ownership in up-and-coming products like Scroll. Binance is dedicated to promoting accessibility and innovation in cryptocurrency by endorsing the token through Launchpool.
The Scroll token, often known as SCR, has a one billion unit maximum supply. Of that amount, 55 million tokens, or 5.5% of the total, are set aside for rewards via Binance’s Launchpool. On October 11, SCR will launch its pre-market and spot listing on Binance, distributing 190 million tokens, or 19% of the total supply. This intentional distribution attempts to lessen the risk of price manipulation and deliver a more stable launch by promoting widespread participation and investment. In addition to increasing the usefulness of the SCR token within its ecosystem and long-term holder trust, this strategic token distribution aims to improve the token’s use in decentralised apps across DeFi, gaming, and NFTs.
On October 11 at 10:00 UTC, Binance is scheduled to launch Scroll (SCR) for pre-market and spot trading. Trading pairings such as SCR/USDT will be accessible. Pre-market trading seeks to determine a reasonable market price and lessen the early volatility sometimes linked to new listings. It is a phase in which a limited number of participants can trade ahead of the broader market. The particular parameters and duration of the pre-market phase remain unannounced and are likely to alter depending on market dynamics and early trading activity.
Due to legislative complexity and compliance requirements, Binance limits access to its Launchpool for users from several jurisdictions, including the US, the Crimean Peninsula, Australia, Canada, North Korea, and Japan. These limitations highlight international bitcoin exchanges’ difficulties while negotiating various national regulatory frameworks. Binance must balance accessibility and legal compliance to maintain the platform’s legality and promote inclusivity. This delicate balance is crucial for sustaining the platform’s worldwide footprint and adhering to foreign legislation, displaying a commitment to legitimate operations and market integrity.
A broader trend in cryptocurrency is adopting Web3 technologies, which seek to decentralise the internet and give consumers back ownership and control. This is shown by integrating Scroll (SCR) into Binance’s Launchpool. Web3, distinguished by its smart contracts, tokenisation, and blockchain usage, provides a strong foundation for creating user-driven, transparent, and safe online experiences. A vital component of this transition is using Layer 2 technologies like Scroll, which solves the efficiency and scalability issues traditionally plaguing blockchain networks.
Using Web3, developers may build decentralised apps (dApps) that run directly on top of blockchain networks, saving money and boosting user confidence. These innovations influence simple technological improvements, creating new avenues for business and economic growth. For example, blockchain’s built-in trust and security aspects enable users in the DeFi area to conduct lending, trading, and other financial activities without the need for traditional financial institutions. Comparably, producers and consumers can deal directly with more autonomy and profit sharing in games and NFTs, upending digital ownership and copyright conventions.
Kelly has carved a niche in the dynamic world of Web3 over the past three years, combining her talents in marketing and writing to become a standout Web3 copywriter. Her journey in this innovative field is distinguished by her profound engagement with the decentralized technology landscape. Kelly’s creative prowess, coupled with her deep understanding of Web3, enables her to create compelling narratives that resonate deeply within the blockchain community. Beyond writing, Kelly’s marketing acumen has been instrumental in elevating various Web3 marketing projects, making them prominent in the realm of digital innovation.
