Launching on Binance Launchpool: What is the Reasonable Price for Scroll (SCR)?

This afternoon, Binance announced the listing of Scroll (SCR) on its Launchpool and pre-market trading platform, marking it as the first centralized exchange (CEX) to offer SCR. Korean trader @definalist shared on X platform that Upbit and Bithumb have conducted on-chain testing for Scroll trading, suggesting these exchanges may also list Scroll soon.

In this article, we will briefly analyze Scroll’s business model, Launchpool rules, and provide a price prediction.

Overview of Scroll

Scroll is a Layer 2 scaling solution for Ethereum based on ZK-rollup technology, designed to address Ethereum’s scalability challenges by increasing transaction speed and reducing costs.

Funding History

Scroll has completed three rounds of financing:

  • Latest Round: In March 2023, Scroll raised $50 million, with participation from Polychain, Sequoia China, Bain Capital Crypto, Variant Fund, and IOSG Ventures.
  • Series A: In April 2022, Scroll raised $30 million, led by Polychain, with contributions from Bain Capital Crypto, Robot Ventures, and Geometry.
  • Seed Round: In October 2021, Scroll secured undisclosed funding from Mask Network, Inception Capital, and A&T Capital.

Key Events and Metrics

  • Mainnet Launch: Scroll’s mainnet went live on October 17, 2023.
  • Session Zero: Launched in April 2024, this event functioned as Scroll’s loyalty program, allowing users to earn Scroll Marks through designated cross-chain and deposit activities.
  • Session One: Introduced in June 2024, this event expanded the ways to earn Scroll Marks, officially marking the beginning of Scroll’s rewards era.

As of now, Dune Analytics reports that Scroll has approximately 208,000 unique addresses and a Total Value Locked (TVL) of $160 million.

Launchpool Details

  • Start Date: SCR mining begins on October 9 at 08:00 (UTC+8) and ends on October 11 at 07:59 (UTC+8), spanning two days.
  • Token Distribution: The total supply of SCR is 1 billion tokens, with an initial circulating supply of 190 million tokens (19%). The Launchpool will allocate 55 million tokens (5.5%). The BNB pool will receive 85% of the Launchpool tokens, while FDUSD will receive the remaining 15%.
  • Trading Timeline: Binance will launch the SCR pre-market on October 11 at 18:00 (UTC+8), with spot trading dates to be announced later.

Price Prediction

According to the Aevo pre-market, the latest transaction price for SCR is $1.653 USDT, resulting in a circulating market cap of $314 million and a fully diluted valuation (FDV) of $1.65 billion.

Based on historical data from Binance Launchpool, the average annualized return over the past 20 sessions was 103%, translating to an absolute yield of 0.6% over two days of mining. This would imply an SCR price of approximately $1.15 USDT, with a circulating market cap of $218 million and an FDV of $1.15 billion.