SCR Token Launch: Binance’s New Pre-Market Trading Feature Explained

SCR Token- What You Need to Know About Scroll’s SCR Token Listing on Binance

SCR Token– Crypto exchange Binance has announced it will list the native token of the Ethereum Layer 2 network, Scroll, known as SCR, for pre-market trading. This move positions Binance as the first platform to offer this opportunity, according to their announcement on Tuesday.

Pre-Market Listing and Launchpool Details

Ahead of the pre-market listing, the Scroll project will be added to Binance Launchpool. This allows users to lock their BNB and FDUSD to farm SCR airdrops over a two-day period starting from midnight UTC on October 9. Binance has set a hard cap of 97,395 SCR per user in the BNB pool and 17,187 SCR in the FDUSD pool.

The total supply of the Scroll token is capped at 1 billion SCR, with 55 million tokens (5.5% of the total supply) allocated for Binance’s Launchpool rewards. Upon listing, the initial circulating supply will be 190 million SCR, which represents 19% of the total supply.

Trading Schedule and Availability

Binance plans to officially list SCR starting at 10 a.m. UTC on October 11, opening pre-market trading for the SCR/USDT trading pair. However, the end time for pre-market trading and the timing for spot listings have not yet been announced. It’s also important to note that this offer is not available in all regions.

Scroll has not confirmed a specific launch date for its token but is expected to do so this quarter. The project’s zkEVM went live on the mainnet in October 2023, and a total of 76,769 ETH (approximately $186 million) has already been bridged to the platform.

Binance’s Unique Pre-Market Trading Feature

Binance recently launched its pre-market trading service, which allows users to take early positions before a token’s spot market listing. Unlike other pre-market platforms, Binance offers trading of actual tokens rather than derivatives.

Binance is the only crypto exchange to offer pre-market spot trading whereby tokens will be exclusively allocated and generated for users to hold and trade in the pre-market on the Binance platform, the exchange stated at the time of launch.

Currently, tokens from Launchpool are held by users until they are officially listed on Binance. With the new pre-market feature, users can trade these tokens once the Launchpool distribution is complete, although there will be restrictions on withdrawals, transfers, and deposits until the official listing occurs.

SCR appears to be the first token listed for pre-market trading on Binance. However, the service is not available in several regions, including the U.S., Canada, Dubai, Japan, the Netherlands, Russia, and Spain.

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