Binance has announced plans to list the native token of Ethereum Layer 2 network Scroll, called SCR, for pre-market trading. This marks Binance as the first platform to offer pre-market trading of the SCR token, as revealed in their Tuesday announcement.
Ahead of this listing, Binance will add Scroll’s token to its Launchpool, allowing users to stake their BNB and FDUSD to farm SCR tokens through an airdrop event. The farming event will last for two days, starting on October 9 at midnight UTC. For BNB stakers, the limit per user is capped at 97,395 SCR, while FDUSD stakers have a cap of 17,187 SCR.
The total supply of SCR is set at 1 billion tokens, with 55 million (or 5.5% of the total supply) allocated as rewards through the Binance Launchpool. Upon listing on Binance, the initial circulating supply will be 190 million SCR, or 19% of the total supply.
Binance plans to open SCR trading on October 11 at 10 a.m. UTC, offering a SCR/USDT trading pair. However, the exact timeline for the end of pre-market trading and the official spot listing has yet to be confirmed. It’s also worth noting that the service will not be available in all regions.
Scroll Has Not Announced Yet
Scroll has yet to announce the official launch date for its token, though it is expected to occur within this quarter. Scroll’s zkEVM went live on Ethereum mainnet in October 2023, and so far, 76,769 ETH (equivalent to $186 million) has been bridged to the platform. The zkEVM (zero-knowledge Ethereum Virtual Machine) is a Layer 2 solution designed to scale Ethereum using zero-knowledge proofs, making it compatible with Ethereum applications at scale.
Binance’s Pre-Market Trading with Real Tokens
Binance’s pre-market trading service, introduced just two weeks ago, enables users to trade actual tokens before they are officially listed in the spot market. This is different from traditional pre-market platforms, which typically offer derivatives instead of the actual tokens.
In their announcement, Binance stated that they are the only cryptocurrency exchange offering pre-market spot trading with real tokens. Users who participate in the Launchpool will hold their tokens until the official spot listing. Once Launchpool distribution is complete, they can trade these tokens, although certain restrictions (such as withdrawal and transfer limits) will remain in place until the official spot listing.
The SCR token will be Binance’s first to be traded via its pre-market service. However, the service is unavailable in specific regions, including the U.S., Canada, Dubai, Japan, the Netherlands, Russia, and Spain.