Binance To Debut Pre-Market Trading For Scroll’s SCR Token On Oct. 11
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On Oct. 8, Binance announced it will list SCR for Launchpool staking on Oct. 9. Users will be able to stake the FDUSD stablecoin or Binance’s BNB token over two days to earn a share of 55 million SCR or 5.5% of the token’s supply.
Launchpool stakers will be limited to earning 97,395 SCR per hour from the BNB pool and 17,187 SCR hourly from the FDUSD pool. The BNB pool will distribute 4.675% of SCR’s supply, with 0.825% earmarked for FDUSD stakers.
Binance will then list “pre-market” trading for SCR on Oct. 11. Binance said 19% of SCR’s supply will circulate when pre-market trading debuts. SCR withdrawals, transfers, and deposits will be suspended during pre-market trading. Binance said it will exclusively host SCR markets during pre-market trading.
Users residing in 11 jurisdictions cannot participate in Launchpool staking, including the United States, Canada, Japan, and Australia.
SCR anticipation
Scroll, a zkEVM rollup, currently ranks as the sixth-largest Ethereum Layer 2 with a total value locked (TVL) of $1.18 billion, according to L2beat.
Scroll’s TVL exploded after the project debuted its points program on April 18, with its TVL growing 647% from $186.1 million to an all-time high of $1.39 billion on July 22. The Pencils Protocol farming dApp is Scroll’s largest DeFi project with a $286 million TVL, followed by Aave with $162.3 million, according to DeFi Llama.
Scroll has long been subject to airdrop anticipation, with more than 180,000 unique wallets interacting with Scroll’s alpha testnet within one month of its Feb. 28, 2023, launch.
Pre-market trading
Binance unveiled its pre-market trading platform on Sept. 25, allowing users to trade Launchpool tokens prior to the launch of official spot markets.
The move came after Coinbase Advanced announced the launch of pre-launch derivatives markets for pre-token generation event assets on June 18.
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