BeeNews report:
Leading global cryptocurrency exchange Binance is expanding its trading products to include a new Ethereum (ETH) layer 2 altcoin.
According to the exchange, Scroll (SCR) is now available for spot trading using SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY pairs.
Binance states that its customers can purchase Scroll using VISA, Mastercard, Google Pay, Apple Pay, or wallet balance.
According to Binance, Scroll is a project designed to address Ethereum network congestion and reduce fees.
“Scroll is a layer 2 zkRollup solution that uses zero-knowledge proof technology to scale Ethereum, making it cheaper and faster without compromising security and compatibility.”
The total supply of Scroll tokens is 1 billion, with an initial circulating supply of 190 million, accounting for 19% of the total token supply.
Binance is attaching a “Seed” label to SCR, which the exchange applies to projects with lower liquidity that may exhibit higher volatility compared to other listed tokens.
Binance requires users holding assets with the seed label to undergo a test every 90 days to ensure they understand the risks before trading the tokens.
The first token airdrop for the project is available starting from Tuesday.
“This inaugural airdrop lays the foundation for us to achieve our goal of becoming the most widely distributed aggregate globally, rewarding those who contribute to the development of the Scroll protocol, ecosystem, and community. Our first airdrop distributes 7% of the total supply of SCR.”
At the time of writing, Scroll’s trading price is $0.9178, down 21.3% in the past 24 hours. Scroll currently has a market capitalization of $174.6 million, ranking as the 301st largest cryptocurrency project.
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