Binance Lists Scroll (SCR), an Ethereum (ETH) Layer-2 Altcoin Targeting Network Congestion and Reduced Fees
- Barbara StreisandOriginal
- 2024-10-25 06:10:21632browse
Binance, the world's leading cryptocurrency exchange, is expanding its trading offerings to include a new Ethereum (ETH) layer-2 altcoin.
Binance, the leading cryptocurrency exchange, has announced the addition of a new Ethereum (ETH) layer-2 altcoin to its trading platform.
The exchange has now made Scroll (SCR) available for spot trading against the pairs of SCR/BTC, SCR/USDT, SCR/FDUSD and SCR/TRY.
Binance customers can now purchase Scroll using VISA, MasterCard, Google Pay, Apple Pay or with their wallet balances.
The exchange describes Scroll as a project that aims to solve the congestion and high fees of the Ethereum network.
“Scroll is a Layer-2 zkRollup solution using zero knowledge proof technology to scale Ethereum, making it cheaper and faster without compromising security and compatibility.”
The total supply of the Scroll token is 1 billion, with an initial circulating supply of 190 million, which is 19% of the total token supply.
Binance is attaching a seed tag to SCR, a label that the exchange uses to denote lower-liquidity projects that may experience higher volatility compared to other listed tokens.
For assets with seed tags, Binance requires its users to take and pass a quiz every 90 days to ensure that they are aware of the risks before trading the tokens.
The project began airdropping its first batch of tokens on Tuesday, which users can still claim.
“This initial airdrop sets the stage for our goal of becoming the most globally distributed rollup, rewarding those who have contributed to the growth of Scroll’s protocol, ecosystem, and community. A total of 7% of the total supply of SCR has been allocated for our first airdrop.”
At the time of writing, Scroll is trading for $0.9178, down 21.3% in the last 24 hours. The token is currently the 301st largest crypto project, with a market cap of $174.6 million.
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