Crypto exchange Binance is set to list Ethereum Layer 2 network Scroll’s native token SCR for pre-market trading, claiming to be the first platform to do so in a Tuesday announcement.
Prior to the pre-market listing, the project will also be added to Binance Launchpool, enabling users to lock their BNB and FDUSD to farm SCR airdrops over two days from Oct. 9 at midnight UTC. There is a hard cap of 97,395 SCR per user in the BNB pool and 17,187 SCR in the FDUSD pool, Binance noted.
The Scroll token will have a total supply of 1 billion SCR, with Binance’s Launchpool rewards accounting for 55 million tokens or 5.5% of the supply. The initial circulating supply when listed on Binance will be 190 million SCR, 19% of the total supply, according to the crypto exchange.
Binance will then list SCR from 10 a.m. UTC on Oct. 11 and open pre-market trading for the SCR/USDT pair. However, the pre-market end time and spot listing time have yet to be announced, and the offer is not available in all regions.
Scroll has not officially announced a specific launch date for its token, but it was expected to occur this quarter. Scroll’s zkEVM went live on mainnet in October 2023 and a total of 76,769 ETH ($186 million) has been bridged to the platform so far.
zkEVMs are Layer 2 networks built on Ethereum using zero-knowledge proofs for scalability. Being Ethereum Virtual Machine-compatible, these networks can support Ethereum applications while running at scale.
Binance launched its pre-market trading service just two weeks ago, The Block exclusively reported, enabling users to take early positions before a token's spot market listing.
Unlike existing pre-market platforms, Binance offers pre-market trading of “actual tokens,” not derivatives.
"Binance is the only crypto exchange to offer pre-market spot trading whereby tokens will be exclusively allocated and generated for users to hold and trade in the pre-market on the Binance platform," the exchange said at the time.
Currently, Launchpool tokens are held by users until the official spot listings on Binance. With Binance Pre-Market, users can trade these tokens after the Launchpool distribution is completed, subject to restrictions such as withdrawal, transfer and deposit limits until the official listing.
SCR appears to be Binance’s first pre-market trading token. However, the service is unavailable in certain regions, including the U.S., Canada, Dubai, Japan, the Netherlands, Russia and Spain.
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