Ethereum Layer-2 Scroll Announces Native Token Launch and Airdrop
Scroll, a leading Ethereum layer-2 (L2) network, has unveiled plans to launch its native token, SCR, marking a significant milestone in the project’s development. The announcement, made on October 8, 2024, outlines the token’s distribution strategy and its role in Scroll’s decentralization efforts.
As a zero-knowledge (ZK) rollup, Scroll competes with other L2 solutions such as ZKsync Era and Starknet. The project has gained significant traction since its 2023 launch, boasting a total value locked (TVL) of $1.2 billion at the time of writing, according to L2Beat.
SCR Token: A Step Towards Decentralization
Scroll describes the SCR token launch as its “first step toward decentralization.” The token will serve as the primary governance mechanism for the protocol, with plans to evolve into a utility token as Scroll progresses towards a more decentralized structure.
The total supply of SCR is set at 1 billion tokens, with the following allocation:
- 15% for airdrops
- 35% for ecosystem growth
- 17% for investors
- 10% for the Scroll Foundation
- 23% for contributors
Airdrop and Exchange Listing
Scroll has announced two key events for the SCR token:
- An airdrop scheduled for October 22, 2024, targeting existing Scroll users
- A listing on Binance, one of the world’s largest cryptocurrency exchanges
The initial airdrop will distribute approximately 7% of the total SCR supply, with Scroll stating that it aims “to reward onchain users who have been actively engaging with the Scroll ecosystem.”
Binance Launchpool and Pre-market Trading
In collaboration with Binance, Scroll will participate in the Binance Launchpool program. Starting October 9, users can farm SCR tokens by staking BNB or FDUSD for two days. A total of 55 million SCR tokens (5.5% of the total supply) has been allocated for this event.
Binance will also offer pre-market trading for SCR beginning October 11, allowing early investors to take positions before the official spot market listing.
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