Binance has announced its 60th Launchpool project, Scroll, a zkEVM Rollup-based scaling solution for Ethereum.
What is Scroll?
Scroll is a Layer-2 solution built on Ethereum's zkEVM (Zero-Knowledge Ethereum Virtual Machine), designed to address Ethereum's scalability challenges. The protocol uses zero-knowledge proofs to bundle transactions off-chain, which are then verified on the Ethereum mainnet. This reportedly reduces both transaction costs and processing times, making Ethereum more efficient and scalable.
Key Features of Scroll
Scroll's zkEVM technology, along with its other features, sets it apart in the Layer-2 landscape.
* **Hierarchical Zero-Knowledge Proof System**: Scroll leverages a zero-knowledge proof system to ensure efficient verification while maintaining compatibility with Ethereum’s existing infrastructure. This makes it easier for decentralized applications (dApps) to migrate to Scroll. * **Communication Channels**: Scroll is designed to integrate with other Layer-2 networks, creating opportunities for dApps on different networks to communicate with each other. This fosters collaboration and partnerships between various decentralized applications, improving the overall ecosystem. * **Layer-2 Mining**: In Scroll’s ecosystem, users can mine zero-knowledge proofs. Miners are incentivized to generate these proofs, separating the transaction packing and mining processes, reducing the issue of maximal extractable value (MEV).
Scroll on Binance Launchpool
As the latest project on Binance's Launchpool, Scroll offers users the opportunity to participate in the project by farming SCR tokens.
* **Farming Period**: From October 9, 2024, 00:00 UTC to October 10, 2024, 23:59 UTC, Binance users can lock their BNB and FDUSD in dedicated pools to earn SCR. * **Total Token Supply**: 1 billion SCR. * **Launchpool Rewards**: 55 million SCR, or 5.5% of the total supply, will be distributed to participants. * **Hourly Hard Cap**: Users can earn up to 97,395 SCR from the BNB pool and 17,187 SCR from the FDUSD pool.
Once the farming period ends, Binance Pre-Market will list the SCR/USDT trading pair on October 11, 2024, at 10:00 UTC. However, this service is not available in all regions.
Scroll presents a promising solution for enhancing Ethereum's scalability through the use of zkEVM technology. Binance users can participate in farming SCR on Launchpool, offering advantageous opportunities before their official spot market listing.