The 60th Project on Binance Launchpool and Pre-Market – A New Layer-2 Solution for Ethereum • crypto.ro

Binance has recently unveiled Scroll (SCR) as the 60th project to be featured on its highly popular Launchpool platform.

This announcement highlights Scroll as a promising Layer-2 solution aimed at improving Ethereum’s scalability and performance through zkEVM technology.

By focusing on zero-knowledge proofs, Scroll is positioned to provide enhanced transaction speed, lower costs, and greater efficiency for decentralized applications built on Ethereum.

As part of this Binance Launchpool listing, users will soon have the opportunity to stake their Binance Coin (BNB) and earn SCR rewards over a designated period.

Furthermore, Binance will offer early trading of Scroll tokens through its Pre-Market platform, giving traders a chance to participate before the token is officially listed on the spot market.

Next, we will explore the features and workings of Binance Launchpool and how it provides value to both users and projects.

1. Scroll on Binance Launchpool

Binance Launchpool is a dedicated platform that allows users to stake their cryptocurrencies, typically Binance Coin (BNB), to earn new tokens from innovative projects. This feature provides early access to up-and-coming tokens, often before they are available on other platforms, giving users a low-risk way to explore new projects and engage with emerging blockchain technologies.

In Binance Launchpool, the process is straightforward: users can lock their BNB tokens into specific “pools” associated with new projects. In return, they receive rewards in the form of the project’s native tokens, in this case, Scroll (SCR). The more BNB a user stakes, the more SCR tokens they are rewarded with over the staking period.

Step-by-Step Process of Staking BNB to Earn Scroll (SCR) Tokens

Here’s a quick guide to participating in Binance Launchpool for Scroll (SCR):

1. Log in to your Binance account – Ensure your account is verified and that you have sufficient BNB in your wallet.
2. Access the Launchpool page – Navigate to the Binance Launchpool section, where you will see the available staking options, including Scroll.
3. Choose the Scroll pool – Select the Scroll (SCR) staking pool, where you can stake your BNB to start earning SCR tokens.
4. Stake your BNB – Specify the amount of BNB you wish to stake. Once confirmed, your BNB will be locked in the pool for the duration of the staking period.
5. Earn rewards – Over the course of the staking period, you will accumulate SCR tokens based on the amount of BNB you have staked. These rewards are distributed daily.
6. Withdraw rewards – Once the staking period ends, you can withdraw your earned SCR tokens and use them for trading, holding, or other purposes.

This straightforward process allows Binance users to easily engage with new projects like Scroll and earn tokens passively.

If you still don’t have a Binance account, you can use this link to register.

Key Details of the Scroll Launchpool (Dates, Rewards, and Conditions)

The Launchpool phase for Scroll (SCR) is set to begin on October 9th, 2024, at 00:00 UTC and will run for two days, ending on October 10th, 2024, at 23:59 UTC. During this time, Binance users can stake their BNB in the Scroll pool to earn SCR tokens as rewards. A total of 55,000,000 SCR tokens (5.5% of the total supply) will be distributed through Launchpool.

Key conditions for participation include:

• Asset to stake: Binance Coin (BNB)
• Total rewards pool: 55,000,000 SCR tokens
• Staking duration: October 9th to October 10th, 2024
• Daily rewards distribution: SCR rewards are distributed daily based on the amount of BNB staked.

2. Binance Pre-Market: Unlocking Early Trading Opportunities for Scroll (SCR)

Binance Pre-Market is a trading feature that allows users to buy and sell newly launched tokens, like Scroll (SCR), before they are fully listed on Binance’s spot market.

This early trading period offers users the ability to capitalize on price fluctuations and market movements that typically occur when a new token is about to launch publicly.

For Scroll (SCR), the Pre-Market phase will begin on October 11th, 2024, following the conclusion of the Launchpool rewards period. This gives Launchpool participants, and other eligible users, the chance to trade SCR before it becomes available to the general public on Binance’s main exchange.

How Binance Pre-Market Allows Early Trading of Launchpool Tokens

Pre-Market trading is designed to bridge the gap between the Launchpool phase and the official spot listing.

Once users have accumulated Scroll (SCR) tokens through Binance Launchpool, they can participate in the Pre-Market phase to sell or buy additional tokens.

This allows early access to price discovery and market trends, giving traders valuable insight into how the token might perform once officially listed.

Benefits of Early Trading in Binance Pre-Market

There are several significant advantages to engaging in Binance Pre-Market trading, particularly for projects like Scroll (SCR):

• Market Insights and Price Discovery: Pre-Market trading allows early participants to observe initial market trends, sentiment, and pricing. This gives traders the chance to position themselves based on early price movements, potentially securing more favorable entry or exit points.
• Liquidity and Flexibility for Traders: By providing an early trading window, Binance ensures that liquidity for new tokens, like Scroll, is available even before the official listing. This liquidity enables traders to execute trades smoothly and adjust their strategies before the token reaches the broader market.
• Potential for Early Profits: Pre-Market trading enables users who have earned Scroll tokens through Launchpool to sell them immediately, potentially locking in early profits. This is particularly useful for traders looking to capitalize on initial price spikes that can occur when a new token is introduced.

Practical Example: Trading Scroll (SCR) in Binance Pre-Market

Let’s consider a practical scenario where a user has staked BNB in the Scroll Launchpool and accumulated SCR tokens. Once the Pre-Market opens on October 11th, 2024, this user can:

1. Sell SCR Tokens: If the user decides to sell their SCR tokens in the Pre-Market, they may benefit from higher prices due to early demand, locking in profits before the token is listed on the spot market.
2. Buy More SCR Tokens: Alternatively, the user may choose to buy more SCR tokens in the Pre-Market phase if they believe the token’s value will rise post-listing. This allows them to secure additional holdings before the token reaches the broader market, potentially at a favorable price.

In both cases, Pre-Market trading provides early insights into Scroll’s market dynamics and price trends, helping traders refine their strategies before the token is fully available.

3. What is Scroll (SCR)?

Scroll (SCR) is a Layer-2 solution for Ethereum that aims to address the blockchain’s scalability challenges while maintaining its security and decentralization. As part of the zkRollup family, Scroll uses zkEVM (zero-knowledge Ethereum Virtual Machine) technology, enabling it to provide faster and more efficient transactions on Ethereum without compromising on security or compatibility.

Mission and Vision

The core mission of Scroll is to bring Ethereum’s scalability to the next level, making blockchain technology accessible to billions of users worldwide.

Its vision is to be the most secure and trusted Layer-2 solution, processing high transaction volumes while reducing gas fees, ensuring that Ethereum can handle the demands of global decentralized applications (dApps).

Focus on Scalability, Security, and Ethereum Compatibility

Scroll’s key innovation is its zkEVM technology, which ensures full compatibility with Ethereum.

By processing transactions off-chain and submitting cryptographic proofs back to Ethereum, Scroll significantly reduces the load on the Ethereum mainnet. This enhances transaction throughput and lowers costs without sacrificing the decentralized security that Ethereum provides.

Technical Overview of Scroll’s zkEVM Technology

The zkEVM is an advanced form of rollup technology that replicates the Ethereum Virtual Machine’s functionality but off-chain.

Scroll’s zkEVM allows developers to run Ethereum-compatible smart contracts, providing a seamless transition for dApps while offering a highly scalable environment with reduced transaction costs.

Value Proposition: A Layer-2 Solution for Ethereum Scalability

Scroll’s value lies in its ability to combine the security of Ethereum with the scalability of a Layer-2 network.

It aims to be the go-to platform for developers and users seeking a faster, cheaper, and fully Ethereum-compatible solution.

Ecosystem and Innovations

Scroll’s ecosystem is rich with innovations such as Scroll Sessions (an on-chain loyalty program) and Scroll Canvas (a tool for building on-chain identity and achievements), ensuring that users and developers are rewarded and supported within the Scroll network.

4 Scroll Token (SCR) Utility and Tokenomics

The Scroll (SCR) token serves as the native utility and governance token of the Scroll ecosystem. It plays a central role in the network’s functionality, supporting various use cases such as governance, staking, and transaction processing within the Layer-2 infrastructure.

By integrating SCR into its ecosystem, Scroll provides both users and developers with the tools needed to participate in the network and contribute to its long-term growth and decentralization.

Detailed Breakdown of SCR Token’s Functions

Tokenomics & Release Schedule

Upon its release, the total supply of SCR tokens is set at 1,000,000,000. Out of this total, 190,000,000 SCR (19% of the total supply) will be in circulation when the token is first listed on Binance.

• Total Supply: 1,000,000,000 SCR
• Circulating Supply at Launch: 190,000,000 SCR (19% of total supply)
• Launchpool Allocation: 55,000,000 SCR (5.5% of total supply) will be distributed to users participating in the Binance Launchpool.

For more detailed insights into the token distribution and its economic model, you can refer to the comprehensive Binance Research page on Scroll.

5. Use Cases and Market Impact of Scroll (SCR)

Scroll (SCR) is designed to enhance Ethereum’s scalability, making it ideal for a variety of practical use cases in decentralized applications (dApps), particularly where high transaction speeds and low fees are critical. Its zkEVM technology enables developers to deploy Ethereum-compatible smart contracts on Scroll, ensuring seamless integration with existing dApps. This makes Scroll an attractive option for developers looking to scale their projects without needing to overhaul their codebases.

Role in DeFi and NFTs

Scroll’s impact on DeFi (Decentralized Finance) is significant. The lower fees and faster transaction finality offered by Scroll make it ideal for DeFi protocols that require frequent interactions, such as decentralized exchanges (DEXs), lending platforms, and yield farming.

The improved scalability also benefits NFT ecosystems, allowing users to mint, trade, and interact with NFTs more efficiently, driving greater adoption across these sectors.

Comparison to Other Ethereum Layer-2 Solutions

Scroll competes with other Layer-2 Ethereum scaling solutions like Starknet, Polygon, and zkSync, but its unique selling point is its complete compatibility with Ethereum’s bytecode at the EVM level.

While Starknet and zkSync also use zero-knowledge technology, Scroll’s focus on developer-friendliness and its alignment with Ethereum’s core infrastructure make it easier to migrate existing dApps. Polygon focuses on sidechains, which may not offer the same level of security as zkRollups, giving Scroll an edge in security-conscious applications.

Potential Adoption by Developers and Enterprises

Scroll’s full compatibility with Ethereum’s tooling and infrastructure positions it as a go-to solution for both developers and enterprises looking to scale their applications on Ethereum. Its scalability, lower costs, and security appeal to businesses seeking blockchain solutions that can handle large-scale, real-world applications.

6. Scroll Price Predictions

As Scroll (SCR) prepares to launch, initial market estimates suggest it could debut with a $400 million market cap. With a circulating supply of 190 million SCR tokens, this implies a launch price of approximately $2.10 per SCR ($400M ÷ 190M tokens = $2.10). However, due to early sell pressure, we expect a slight dip after the initial listing, potentially bringing the market cap down to around $300 million, which would reduce the price to about $1.58 per SCR.

Short-Term Outlook

As with many new listings, the initial volatility is likely to be driven by Launchpool participants selling their SCR rewards. This sell pressure could lead to a temporary decline in the market cap, but we expect a rebound after 1-2 months as the market stabilizes and demand for SCR increases, potentially driven by increased adoption and developer interest in Scroll’s Layer-2 solution.

Given that Q4 is historically the most bullish quarter for crypto, Scroll could benefit from broader market momentum, with the potential for significant price appreciation. A rally in the price of Ethereum, combined with increasing adoption of Layer-2 solutions, may also support the price of SCR.

Crowded Layer-2 Market

Scroll faces competition from established Layer-2 networks like Starknet, Polygon, and zkSync. The total market cap of Layer-2 solutions currently stands at around $12 billion, and while Scroll has a strong value proposition, it will need to differentiate itself in a crowded space.

The price trajectory of SCR will largely depend on market conditions and Ethereum’s performance, as the health of Layer-2 solutions is closely tied to the broader Ethereum ecosystem.

In the longer term, Binance’s support, liquidity, and large user base are expected to positively impact Scroll’s adoption, providing strong initial demand. However, market risks remain, especially if Ethereum’s price fluctuates or if Layer-2 competition intensifies. Despite these risks, SCR’s long-term potential looks promising if it can maintain technological leadership and secure a solid foothold in the Ethereum scaling ecosystem.