As a seasoned analyst with a decade of experience in the crypto space, I find the Scroll (SCR) token launch on Binance intriguing. Having witnessed the rise and fall of numerous projects, I appreciate the transparency in Scroll’s token distribution, especially the 15% reserved for airdrops and the 35% allocated to ecosystem growth.
On Tuesday, it was announced that Scroll, a well-known Ethereum Layer 2 network, is preparing to debut its native token, SCR. Binance will be the initial platform offering pre-market trading for this token. This means that users can trade SCR before its official listing on the spot market.
Beginning October 9th, users are invited to join Binance’s Launchpool farming event. During this event, they can deposit BNB and FDUSD to earn SCR tokens. It’s important to note that the farming pools have been limited by Binance, with a maximum of 97,395 SCR that can be staked in the BNB pool and 17,187 SCR in the FDUSD pool. In total, 55 million SCR tokens, which is equivalent to 5.5% of the overall 1 billion supply, will be distributed as rewards through Launchpool.
Starting October 11th at 10:00 UTC, Binance will initiate early trading for the SCR/USDT pair. Unlike some other platforms that offer derivative trades, this feature from Binance enables users to trade actual tokens directly. However, it’s important to note that pre-market trading is not available in several countries, such as the United States, Canada, Japan, and Spain.
When SCR is initially listed, its circulating supply will consist of 190 million tokens, which equates to 19% of the total supply. This will establish a substantial initial presence in the market. At this point, Binance has not released information regarding the length of the pre-market phase or the specific date when SCR will be accessible for full trading by the general public.
As a researcher delving into the intricacies of the Scroll platform, I can’t help but be excited about the significance of the SCR token. This token represents a pivotal stride towards the decentralization of our platform. It will be instrumental in shaping governance decisions, validating transactions, and maintaining the sequence of events within the Scroll ecosystem.
The main objective of this project is to make it possible for people everywhere to use and interact with applications and services that are not controlled by any single entity (decentralized). Furthermore, SCR plays a crucial role in decentralizing the governance structure through Scroll DAO, empowering the community to make decisions and promoting long-term sustainability.
Token Distribution
1 billion SCR tokens have been set aside in various allocations. 15% is earmarked for airdrops, with the initial distribution planned for October 22, 2024. A substantial portion (35%) is designated for fostering the ecosystem’s growth, while 23% is reserved for Scroll’s core team members. Investors will receive 17% of the total supply, with their tokens gradually released over a four-year period.
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2024-10-09 09:24