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

Scroll, a Ethereum layer-2 (L2) network, officially announced the launch and airdrop of its native token, SCR, set for October 22, 2024. 

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

The SCR Token: A Step Towards Decentralization

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. 

Over time, the token will evolve into a utility token, used to incentivize provers and ensure the security of the network’s sequencers.

In its official announcement, Scroll stated:

“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.” 

Competing with other L2s like ZKsync Era and Starknet, Scroll has strengthened its position by securing over $1.26 billion in total value locked (TVL) according to data from L2Beat.

Key Details of the SCR Token Launch

Scroll has outlined the specifics of the SCR token launch, which are as follows:

• Token Name: Scroll (SCR)

• Total Supply: 1,000,000,000 SCR

• Airdrop Snapshot Date: October 19, 2024

• Token Launch Date: October 22, 2024

• Airdrop Claim Availability: October 22, 2024

The airdrop will reportedly reward early adopters who have actively participated in the Scroll ecosystem. 

The Role of SCR in Scroll’s Ecosystem

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:

• 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.

   

• 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.

   

• 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.

Airdrop and Token Distribution Strategy

The total token supply will be allocated as follows:

• 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.

   

• Ecosystem & 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.

   

• 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.

   

• 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.

   

• 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.

Collaboration with Binance and Launchpool Event

Scroll has partnered 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. 

Additionally, Binance will offer pre-market trading for SCR starting October 11, allowing early investors to position themselves before the official spot market listing.