Scroll

ZKsync

Core

Launchpool

Foundation

Scroll, a Ethereum layer-2 (L2) network, officially&nbsp;<a style="text-decoration:none" href="https://x.com/Scroll_ZKP/status/1843638328459178043">announced</a> the launch and airdrop of its native token, SCR, set for October 22, 2024.&nbsp;
<div>
 <blockquote class="twitter-tweet">
 Scroll is embarking on its first step towards decentralization. 𝐖𝐞 𝐚𝐫𝐞 𝐞𝐱𝐜𝐢𝐭𝐞𝐝 𝐭𝐨 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞 𝐭𝐡𝐞 𝐥𝐚𝐮𝐧𝐜𝐡 𝐨𝐟 𝐭𝐡𝐞 $𝐒𝐂𝐑 𝐭𝐨𝐤𝐞𝐧. Our vision is to provide everyone, everywhere, access to a global distributed network of applications and… <a href="https://t.co/SLR4UMJvXb">pic.twitter.com/SLR4UMJvXb</a>— Scroll (@Scroll_ZKP) <a href="https://twitter.com/Scroll_ZKP/status/1843638328459178043?ref_src=twsrc%5Etfw">October 8, 2024</a>
 </blockquote> 
</div>
The token launch comes as Scroll aims to enhance its governance and solidify its role as a key player in the Ethereum ecosystem.
<h2 dir="ltr" id="span-span-the-scr-token-a-step-towards-decentralization-span-span">The SCR Token: A Step Towards Decentralization</h2>
According to the team, SCR is a key element in building scalable and secure infrastructure. The SCR token will serve as the governance token of the Scroll network, enabling users to participate in key protocol decisions.&nbsp;
&nbsp;
Over time, the token will evolve into a utility token, used to incentivize provers and ensure the security of the network’s sequencers.
&nbsp;
In its official announcement, Scroll stated:
<blockquote>
 “We are excited to launch SCR, marking the first step toward decentralization. Our vision is to create a global network that provides access to distributed applications and services.”&nbsp;
</blockquote>
Competing with other L2s like ZKsync Era and Starknet, Scroll has strengthened its position by securing over&nbsp;<a style="text-decoration:none" href="https://l2beat.com/scaling/projects/scroll">$1.26 billion</a> in total value locked (TVL) according to data from L2Beat.
<h2 dir="ltr" id="span-span-key-details-of-the-scr-token-launch-span-span">Key Details of the SCR Token Launch</h2>
Scroll has&nbsp;<a style="text-decoration:none" href="https://scroll.io/blog/scr-token">outlined</a> the specifics of the SCR token launch, which are as follows:
<ul>
 <li>Token Name: Scroll (SCR)</li>
 <li>Total Supply: 1,000,000,000 SCR</li>
 <li>Airdrop Snapshot Date: October 19, 2024</li>
 <li>Token Launch Date: October 22, 2024</li>
 <li>Airdrop Claim Availability: October 22, 2024</li>
</ul>
The airdrop will reportedly reward early adopters who have actively participated in the Scroll ecosystem.&nbsp;
<h2 dir="ltr" id="span-span-the-role-of-scr-in-scroll-s-ecosystem-span-span">The Role of SCR in Scroll’s Ecosystem</h2>
Scroll’s long-term roadmap involves three critical rights that need to be decentralized: governance, proving, and sequencing. Here’s how SCR will be involved:
&nbsp;
<ul>
 <li>Governance Right: SCR will be used to decentralize governance through Scroll’s DAO. This will allow the community to have a say in important protocol decisions, preventing any single entity from controlling the network.&nbsp;</li>
 <li>Proving Right: Once governance is decentralized, SCR will be used to incentivize external parties to run provers. Provers are essential for verifying transactions on the network, and this decentralization will ensure long-term sustainability.&nbsp;</li>
 <li>Sequencing Right: Sequencers are responsible for ordering transactions and producing L2 blocks. Decentralizing this function is crucial for censorship resistance and ensuring transaction finality. SCR will be integral to this process.</li>
</ul>
<h2 dir="ltr" id="span-span-airdrop-and-token-distribution-strategy-span-span">Airdrop and Token Distribution Strategy</h2>
The total token supply will be allocated as follows:
<ul>
 <li>Airdrops: 15% of the total supply will be allocated for airdrops, with 7% reserved for the first airdrop and 8% for future airdrops over the next 12-18 months. The first airdrop will reward active on-chain users and contributors to the Scroll ecosystem.&nbsp;</li>
 <li>Ecosystem &amp; Growth: 35% of the total supply is reserved for ecosystem growth, with 10% allocated to the Scroll DAO Treasury. This allocation is designed to fund community initiatives and further Scroll’s mission of creating an equitable financial system.&nbsp;</li>
 <li>Scroll Foundation Treasury: 10% of the total supply is allocated to the Scroll Foundation to fund ongoing operations and activities for the next four years.&nbsp;</li>
 <li>Core Contributors: 23% of the supply is allocated to core contributors, including the team, advisors, and future contributors. These tokens will be vested over four years.&nbsp;</li>
 <li>Investors: 17% of the supply is allocated to investors who supported the project from its early stages. These tokens will unlock over a four-year period.</li>
</ul>
<h2 dir="ltr" id="span-span-collaboration-with-binance-and-launchpool-event-span-span">Collaboration with Binance and Launchpool Event</h2>
Scroll has&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/binance-s-60th-launchpool-project-what-is-scroll">partnered</a> with Binance to make the SCR token launch widely accessible. Starting October 9, users can stake BNB or FDUSD on Binance Launchpool to farm SCR tokens, with a total of 55 million SCR (5.5% of the supply) allocated for this event.&nbsp;
&nbsp;
Additionally, Binance will offer pre-market trading for SCR starting October 11, allowing early investors to position themselves before the official spot market listing.

Scroll to Launch Native Token, SCR, with Airdrop on October 22: Details

Table of Contents

BSCN

Other articles published on Oct 14, 2024

Is Peter Todd the Mysterious Satoshi Nakamoto? New HBO Documentary Raises Controversial Claims

S/African fintech Mukuru launches mobile wallet in Malawi to boost money transfer

Ripple’s Highs and Lows Too Risky? Qubetics Is Combating Uncertainty with Stability

Bitwise Files for First-Ever XRP ETF with the SEC: What You Need to Know

How Onchain Consumer Apps are Disrupting Web2: A Deep Dive into Meme Culture and the Future of Us...

Memecoin GOAT Surges to $150M Amid Rumors of a16z-Funded AI Bot Launch

Join our free newsletter for daily crypto updates!