As an analyst with years of experience in the crypto market, I find the recent announcement by Binance to list Scroll (SCR) intriguing. With my background in blockchain technology and understanding of the DeFi space, it’s clear that SCR is making a strong move towards mainstream adoption.
On September 11, Binance Holdings Ltd., a major player in the crypto exchange market known for its high daily traded volume and large global user base, will introduce Scroll (SCR) as the 60th project on its LaunchPool platform. Scroll is a rapidly expanding zero-knowledge rollup that uses advanced technology to improve transaction speeds. Binance plans to list the SCR token on its pre-market trading platform, paired with Tether USDT.
Later on, the cryptocurrency exchange made it clear that any announcements about being listed on their real-time trading platform would be shared via their official channels in due time.
Meanwhile, Binance exchange users will be eligible for an airdrop after locking either BNB or FDUSD. Notably, 46.75 million SCR tokens have been reversed for the BNB pool rewards, which amounts to about 85 percent of the tokens designated for Binance listing. An additional 8.25 million SCR tokens have been set aside for the FDUSD lockup pool, which accounts for only 15 percent.
The farming of the remaining tokens earmarked for Binance listing will commence on Wednesday and conclude on Thursday.
Introducing @Scroll_ZKP Scroll (SCR) on Binance Launchpool and Pre-Market.
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— Binance (@binance) October 8, 2024
Closer Look at SCR Tokenomics
1) On Binance, the Scroll token initially circulated at approximately 190 million units, accounting for around 19% of its total maximum supply that’s capped at a billion tokens.
The LaunchPool tokens are allocated with a reward of 55 million SCR tokens, equaling 5.5% of the entire available amount.
On Binance’s BNB pool, each user is limited to acquiring approximately 97,000 SCR tokens per hour. Similarly, in the FDUSD LaunchPool, the hourly limit for each user is roughly 17,000 SCR tokens.
Over time, as listings on top-tier exchanges become more frequent, we can anticipate a greater disclosure of the specifics regarding the SCR token’s economic structure.
Why Scroll?
As a network architect, I’ve been instrumental in crafting Scroll from its foundations, ensuring it seamlessly integrates with the Ethereum Virtual Machine (EVM) for optimal compatibility. The Scroll core team and I have developed this network within an open-source setting, with the primary goal of bolstering the entire Ethereum ecosystem.
Additionally, it’s widely believed that the widespread adoption of Ethereum’s scalability is due to its strong security features provided by the zero-knowledge (ZK) technology foundation upon which it operates.
Based on current market statistics, the Scroll network currently holds a staggering $739 million in total value secured (TVS). Moreover, the Scroll network boasts an impressive $112 million in its stablecoin market capitalization. As of this analysis, there were approximately 50,000 active addresses on the Scroll network over the past 24 hours.
As a financial analyst, I’m excited to highlight some decentralized finance (DeFi) projects that are currently utilizing the Scroll network. Among them are lending platform Aave, farming protocol Pencils Protocol, yield provider Tranchess Yield, exchange Tokan Exchange, and Kelp DAO, with many others joining this impressive list.
In the upcoming period, given its compatibility with multiple Ethereum Virtual Machine (EVM) networks, Scroll is poised for rapid expansion. This growth is expected due to the increasing acceptance of digital assets and Web3 technologies in mainstream use.
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2024-10-08 16:02