Scroll ($SCR) is the first project on the Binance Pre-Market and also a latest addition on the Binance Launchpool which enables its users to earn the tokens just by simply staking BNB or FDUSD. In this guide we’ll break down what Scroll is all about and walk you through how to get in on action with the ongoing Scroll Launchpool event.
What is Scroll?
Scroll is a security-focused scaling solution for Ethereum. Scroll tackles Ethereum's scalability issues with a next-generation Layer-2 Solution built on zkEVM (Zero-knowledge Ethereum Virtual Machine). Consider Ethereum's mainnet as a congested highway. Scroll acts as additional lanes, processing transactions off-chain before securely bundling them for verification on the mainnet. This off-chain processing, facilitated by zkEVM, significantly reduces transaction costs and speeds. zkEVM uses cryptography to prove the validity of transactions, without revealing all the details on the Scroll mainnet. This innovative combination of Layer-2 architecture and zkEVM technology positions Scroll as a game-changer for scaling Ethereum and enabling a smooth user experience.
Source: @TrustWallet Beginner’s Guide to Scroll
Binance Announcement
Prior to the SCR listing confirmation, Binance unveiled the beginning of Scroll (SCR) available as part of Binance Launchpool and Pre-Market which allows users to gain SCR tokens by:
Earning SCR through staking BNB & FDUSD on the Launchpool
Trade SCR before listing through Pre-Market
Get all details about Scroll Launchpool and Pre-Market
The Launchpool event period runs from October 9th to October 10th, and within this period, users are given the opportunity for a couple days to stake their tokens and receive SCR airdrops. It is an event for a limited time duration; hence, in case of any interest as above, please make sure that you do not let the window slip away from you.
How to earn $SCR on Binance Launchpool: Step by Step
Access the Launchpool Page
Open Binance App, Click on “More”
Scroll down to Earn, find “Launchpool”and tap to enter the Launchpool page
Note: To participate in Launchpool campaigns you must have a KYC’ed account.
On the Launchpool page you will be able to see ongoing and past projects. Within each project section, you can see the project airdrop information and the available options to lock your token
For example: BNB Pool means that you can lock BNB to get SCR
Stake Your Token to receive SCR Airdrop
Now it’s time to stake! In order to stake, you have to choose between $BNB and FDUSD, and state how much would you like to stake. Follow the prompts shown on your screen in order to finalize the staking process.
Minimum locking amount: You need to lock a minimum of 0.01 token to participate in a Launchpool. This applies to all tokens available for locking.
Start earning SCR rewards
After you have staked your tokens, you will begin accumulating SCR rewards, and the amount earned can be viewed on the launchpool page.
• Farming Period: 2024-10-09 00:00 (UTC) to 2024-10-10 23:59 (UTC).
Total 55,000,000 SCR are up for grabs on the launching which is 5.5% of the SCR total supply.
How to withdraw rewards & staked tokens?
Reward tokens are claimable anytime you wish.
Once the Launchpool farming period is over, you will be able to get back your locked up tokens along with the SCR that you have acquired during the period. Simply go back to the Launchpool page, you will see the option to withdraw all of them back to your Binance Spot Wallet.
Special Tip: Place a combination of tokens on stake
If you are able, try to stake in both #BNB and #FDUSD🔥 pools. This could probably increase the $SCR token that you will earn, since different reward rates are offered in both pools.
Keep an eye for updates or announcements on Scroll that are made on the Binance platform. You are not going to wish to sit under the bus when new updates and opportunities are out which may increase earning for you.
