Scroll (SCR) Token Launch Date, Airdrop, Distribution, and Role in the Ethereum Ecosystem

The token launch comes as Scroll aims to enhance its governance and solidify its role as a key player in the Ethereum ecosystem.

Web3 infrastructure provider Scroll has announced the launch of its native token, SCR, and an upcoming airdrop for early adopters. The SCR token will play a key role in Scroll’s decentralized architecture. Here’s a closer look at the token launch and its significance.

Introducing the Scroll (SCR) Token: A Governance and Utility Token

As part of its mission to decentralize Web3 infrastructure, Scroll is introducing three critical rights that need to be decentralized: governance, proving, and sequencing. The SCR token will be used to facilitate the decentralization of these rights over time.

Initially, SCR will be used to decentralize governance through Scroll’s DAO (decentralized autonomous organization). This will allow the community to participate in key protocol decisions, such as setting gas prices, adjusting sequencer parameters, and deciding on future protocol upgrades. By distributing SCR widely among the community, the goal is to prevent any single entity from controlling the network.

Later on, 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 the long-term sustainability of the network. Finally, sequencers are responsible for ordering transactions and producing L2 blocks. Decentralizing this function is crucial for censorship resistance and ensuring transaction finality, and SCR will be integral to this process.

A total of 15% of the token supply will be allocated for airdrops, with 7% for the first airdrop and 8% for future airdrops over the next 12-18 months. The first airdrop will mainly target early on-chain users and contributors to the Scroll ecosystem. To be eligible for the airdrop, users will need to have interacted with Scroll’s testnet or mainnet before a snapshot date, which will be announced later.

The total token supply will be distributed as follows:

Airdrops: 15% of the total supply will be allocated for airdrops.

Airdrop Snapshot Date: A snapshot of eligible addresses will be taken on October 19, 2024 at 00:00:00 UTC.

Airdrop Claim Availability: Airdropped SCR tokens will be claimable on October 22, 2024 at 10:00:00 UTC.

The SCR token will be available for spot trading on Binance starting October 22, 2024 at 10:00:00 UTC. The pairs available for trading will be SCR/BTC, SCR/BUSD, and SCR/USDT.

Please note that the airdrop and token launch are subject to change based on the community feedback and the network’s performance. Stay tuned for further updates and announcements from Scroll and Binance.

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