Scroll

Token

Launchpool

Binance recently&nbsp;<a style="text-decoration:none" href="https://www.binance.com/en/support/announcement/introducing-scroll-scr-on-binance-launchpool-and-pre-market-22df1ba38f4a4033924a1adecf93735e">announced</a> its 60th Launchpool project, introducing Scroll (SCR), a zkEVM Rollup-based scaling solution for Ethereum. Binance would allow users to lock their BNB and FDUSD to receive SCR airdrops.&nbsp;
Let's explore what Scroll brings to the table.
<h2 dir="ltr" id="span-span-what-is-scroll-span-span">What is Scroll?</h2>
Scroll is a Layer-2 solution built on Ethereum’s zkEVM (Zero-Knowledge Ethereum Virtual Machine), designed to solve Ethereum’s scalability challenges.&nbsp;
&nbsp;
The protocol uses zero-knowledge proofs to bundle transactions off-chain, which are then verified on the Ethereum mainnet. This reportedly reduces both transaction costs and processing times, making Ethereum more efficient and scalable.
<h3 dir="ltr" id="span-span-strong-why-scroll-strong-span-span">Why Scroll?</h3>
Ethereum, the second-largest cryptocurrency network by market cap, faces high gas fees and congestion, especially during peak periods. Scroll tackles these issues by handling transactions off-chain and only submitting verified bundles to the Ethereum mainnet, reducing network strain.
&nbsp;
According to the team, Scroll has the potential to enhance the user experience for decentralized applications (dApps) on Ethereum, offering faster transaction speeds and lower fees.
<h2 dir="ltr" id="span-span-key-features-of-scroll-span-span">Key Features of Scroll</h2>
<a style="text-decoration:none" href="https://docs.scroll.io/en/getting-started/overview/">Scroll's zkEVM</a> technology, along with its other features, sets it apart in the Layer-2 landscape.
&nbsp;
<ul>
 <li>Hierarchical Zero-Knowledge Proof System Scroll leverages a zero-knowledge proof system to ensure efficient verification while maintaining compatibility with Ethereum’s existing infrastructure. This makes it easier for decentralized applications (dApps) to migrate to Scroll.&nbsp;</li>
 <li>Communication Channels Scroll is designed to integrate with other Layer-2 networks, creating opportunities for dApps on different networks to communicate with each other. This fosters collaboration and partnerships between various decentralized applications, improving the overall ecosystem.&nbsp;</li>
 <li>Layer-2 Mining In Scroll’s ecosystem, users can mine zero-knowledge proofs. Miners are incentivized to generate these proofs, separating the transaction packing and mining processes, reducing the issue of maximal extractable value (MEV).</li>
</ul>
<h2 dir="ltr" id="span-span-scroll-and-binance-launchpool-span-span">Scroll and Binance Launchpool</h2>
As the latest project on Binance's Launchpool, Scroll offers users the opportunity to participate in the project by farming SCR tokens.
&nbsp;
<ul>
 <li>Farming Period: From October 9, 2024, 00:00 UTC to October 10, 2024, 23:59 UTC, Binance users can lock their BNB and FDUSD in dedicated pools to earn SCR.</li>
 <li>Total Token Supply: 1 billion SCR.</li>
 <li>Launchpool Rewards: 55 million SCR, or 5.5% of the total supply, will be distributed to participants.</li>
 <li>Hourly Hard Cap: Users can earn up to 97,395 SCR from the BNB pool and 17,187 SCR from the FDUSD pool.</li>
</ul>
Once the farming period ends, Binance Pre-Market will list the SCR/USDT trading pair on October 11, 2024, at 10:00 UTC. However, this service is not available in all regions.
<h2 dir="ltr" id="span-span-what-is-binance-pre-market-span-span">What is Binance Pre-Market?</h2>
Binance Pre-Market allows users to trade tokens like SCR before they are officially listed on the spot market. It offers early access to promising tokens, enabling traders to establish positions ahead of the general market.&nbsp;
&nbsp;
Pre-market trading will conclude at least four hours before the official spot listing, offering a smooth transition into the main market.

Binance's 60th Launchpool Project: What is Scroll?

Table of Contents

BSCN

Other articles published on Oct 9, 2024

Dragonz Lab Secures $9M Investment from Syndicate Capital to Enhance ‘Dragonz Land’ Ecosystem (9 ...

How Onchain Consumer Apps are Disrupting Web2: A Deep Dive into Meme Culture and the Future of Us...

VanEck Ventures launches $30M fund to support fintech, digital assets, and AI startups

Ethereum’s Tightrope: Analyzing ETH’s Price Dynamics and Support Levels

Coinbase Unlocks Taproot Functionality for Bitcoin Users After Long Wait

Ambient Partners with Best Western Las Vegas To Deploy Real-Time Air Quality Monitoring Solutions...

Join our free newsletter for daily crypto updates!