Cryptocurrency exchange Binance has announced that the 60th project in the Launchpool program is the Scroll project and its upcoming token #SCR . Trading of the token will also begin on the new pre-market platform that Binance launched in late August.
Scroll is another solution for scaling Ethereum$ETH based on zero knowledge (ZK) proof technology, the principles of which are similar to Starknet or zkSync. The development team has raised $83 million from venture investors, and the project itself is expected to airdrop its SCR tokens. Binance Launchpool is a farming service that gives users early access to tokens for locking BNB tokens (BNB) or stablecoins available on the exchange. Cryptocurrency farming is an investment that involves receiving passive income for providing tokens to a liquidity pool. Starting October 9, SCR tokens can be “farmed” for two days on Launchpool by locking BNB or FDUSD.
The Launchpool program has allocated 55 million SCR, which is 5.5% of the total supply of 1 billion tokens. After the listing on Binance, there will be 190 million SCR tokens in circulation (19% of the total supply).
Binance Launchpool's previous projects included Notcoin ($NOT ), Dogs ($DOGS ), Catizen (#CATI ), and Hamster Kombat (#HMSTR ). Despite the fact that the latter had an audience of hundreds of millions of users, the HMSTR rate fell by 40% in a few days after listing. Dogs and Catizen are also listed below the levels at which they entered the market. The exchange's native cryptocurrency BNB is used as collateral in the Binance farming service, and the coin's rate often responds with growth to reports of the imminent launch of a new project on Launchpool. As of 12:20 Moscow time on October 8, BNB is trading at around $570, having lost 0.5% in a day. For comparison, Bitcoin (BTC) fell by 1.4%.
There have been no announcements about SCR listing on other exchanges, but typically, major exchanges launch trading of tokens that are generating excitement in sync with Binance. The project team has also not published details of the airdrop token distribution to early Scroll users.
