Scroll, a promising Ethereum Layer 2 scaling solution utilizing Zero-Knowledge Ethereum Virtual Machine (zKEVM) technology, has announced plans to launch its governance token, SCR, on Binance Launchpad. This significant step marks Scroll’s journey towards decentralization and community-driven development.
Token Distribution and Allocation
A total of 1 billion SCR tokens will be in circulation, with 15% reserved for at least two community airdrops over the next 18 months. To incentivize ecosystem growth, 25% of the tokens will be allocated to fund projects building on Scroll. Additionally, 20% will be distributed between the Scroll DAO Treasury and Scroll Foundation. The remaining 40% will be divided between investors and contributors, with a split of 17% and 23%, respectively.
SCR’s Role in Governance and Decentralization
The launch of SCR is crucial for Scroll’s mission of decentralization. As a governance token, SCR will empower community members to participate in shaping the protocol’s future. It will serve as a primary mechanism for decision-making, particularly regarding the decentralization of proving and sequencing processes, which are currently managed by the project’s multi-sig holders.
Incentivizing External Participation
Scroll aims to incentivize external parties to run provers and optimize for the best prover performance. By doing so, the protocol can enhance user experience and transform all Scroll users into owners and guardians of the ecosystem.
Also Read: Native USDC Officially Launches on Sui
Airdrop Details
The Scroll airdrop snapshot, which determines eligibility for token distribution, will take place on October 19. The first airdrop is scheduled to follow shortly after, with claim availability opening on October 22.
Scroll’s decision to launch its governance token on Binance Launchpad is a testament to its commitment to community involvement and decentralization. As a Layer 2 scaling solution, Scroll aims to address the scalability challenges faced by Ethereum, offering a more efficient and cost-effective platform for decentralized applications. With the introduction of SCR, Scroll is poised to further solidify its position in the Ethereum ecosystem and empower its community to play a vital role in its development.
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