Binance launchpool has announced the launch of Scroll (SCR), the 60th project on Binance Launchpool. Scroll (SCR) is a Bytecode-level compatible tie up with zkEVM. Binance will be the first platform to list this token, with pre-market trading starting on October 11, 2024, at 10:00 (UTC).
Participation in Binance Launchpool
Users can lock their BNB and FDUSD tokens to take part in Binance Launchpool. The farming period begins on October 9, 2024, at 00:00 (UTC) and ends on October 10, 2024, at 23:59 (UTC). Pre-market trading for the SCR/USDT pair will be open starting October 11, 2024, and further details about the spot listing will be shared later. Participation in pre-market is limited by the user’s country or region.
Binance Launchpool Supply and Rewards
The total supply of Scroll (SCR) is 1,000,000,000 tokens, with 55,000,000 SCR (5.5% of the total supply) allocated as Launchpool rewards. The initial circulating supply on Binance will be 190,000,000 SCR, which is 19% of the total. During the farming period, 46,750,000 SCR will be available in the BNB pool and 8,250,000 SCR in the FDUSD pool.
There is an hourly cap for individual users. For the BNB pool, the limit is 97,395 SCR, and for the FDUSD pool, it is 17,187 SCR. Binance requires users to complete KYC (Know Your Customer) to participate, and the farming rewards will be updated daily.
Pre-Market Trading
Binance Pre Market has set a maximum limit for how many tokens a user can hold. If this limit is exceeded, users cannot buy more tokens during pre market. Only regular accounts can participate, sub accounts are not allowed. During pre market, withdrawals, transfers, and deposits are paused. Pre market is only available to users from certain countries.
Users must update their Binance app to version 2.89.0 or higher to participate. Binance will take snapshots of balances to calculate average holdings and rewards, which will be updated hourly. Rewards can be claimed at any time, and pool APY and balances will update in real-time.
Requirements
Users can only lock their tokens in one Launchpool at a time, but they can split their holdings across different pools. Locked tokens and unclaimed rewards will be transferred back to users’ spot accounts after the farming period ends. BNB in Flexible and Locked Products, such as BNB Simple Earn, will automatically join Launchpool and earn rewards.
Certain countries, like the USA, Australia, and Canada, are excluded from participating due to local laws. Binance also prohibits dishonest activities like bulk registrations or farming through unfair methods. Trading bots and spot copy trading will be enabled for SCR within 24 hours of the token being listed.
Conclusion
Binance’s announcement of Scroll (SCR) on Launchpool provides an opportunity for users to farm and trade the new token. Binance warns users to be cautious of any false claims offering SCR before the official date. The webpage for Scroll will be available 24 hours before the Launchpool starts.
