Scroll (R) Token (SCR) to Launch on Binance With Pre-Market Trading

Scroll, a prominent Ethereum Layer 2 network, is set to launch its native token, SCR, with Binance being the first exchange to provide pre-market trading

Binance has announced the pre-market availability of Scroll’s (SCR) native token ahead of its official listing on the exchange. The announcement comes as part of Binance’s efforts to provide users with early access to promising tokens.

According to a statement from Binance on Tuesday, users will be able to trade SCR before its spot market listing. The token will be available for pre-market trading starting October 9th.

Binance users will be able to participate in the Launchpool farming event to earn SCR tokens. Users can stake BNB and FDUSD to participate in the farming pools.

Binance has set a cap on the amount of SCR that can be staked in each pool. A maximum of 97,395 SCR can be staked in the BNB pool and 17,187 SCR in the FDUSD pool.

A total of 55 million SCR tokens will be allocated for Launchpool rewards over the course of 30 days. The initial pool allocation will be 27,777,778 SCR for BNB and 6,161,616 SCR for FDUSD.

The pre-market trading for the SCR/USDT pair will begin on October 11th at 10:00 UTC. Binance users will be able to trade the actual tokens, as opposed to other services that offer derivative-based access.

However, it is important to note that pre-market trading is restricted in certain countries, including the United States, Canada, Japan, and Spain.

The circulating supply of SCR will be 190 million tokens (19% of the total supply) at the time of listing, ensuring a sizable presence in the market.

Binance has not yet disclosed the duration of the pre-market phase or when the token will be available for full-market trading.

The Scroll token marks a crucial step toward the decentralization of the platform. The token will play a vital role in governance, proving, and sequencing within the Scroll ecosystem.

The broader goal of the project is to provide global access to decentralized applications and services. SCR will also be central in decentralizing governance via the Scroll DAO, enabling community control and ensuring long-term sustainability.

Of the 1 billion SCR tokens, 15% will be reserved for airdrops, with the first airdrop scheduled for October 22, 2024. A significant portion (35%) is allocated to ecosystem growth, and 23% is reserved for Scroll’s core contributors. Investors will receive 17% of the total supply, unlocking tokens over four years.