Scroll announces token launch date and airdrop claim on October 22

Scroll is a Layer 2 scaling solution built on Ethereum, employing zero-knowledge rollups (zk-rollups) to enhance transaction throughput and reduce costs while maintaining the security and decentralization provided by the Ethereum mainnet.

Rollups are Layer 2 solutions that batch multiple off-chain transactions into a single bundle, then submit that bundle to the Ethereum mainnet for validation. This allows the Ethereum network to process a large number of transactions more efficiently.

On Oct 8, 2024, Scroll announced the launch of the SCR token. SCR will soon be available on Binance Launchpool and via upcoming airdrop on October 22.

About the SCR Token Launch

• Token Name: Scroll (SCR)

• Total Token Supply: 1,000,000,000 SCR

• Airdrop Snapshot Date: October 19, 2024

• Token Launch Date and Airdrop Claim Availability: October 22, 2024

SCR will be used as a governance token of the protocol to make Scroll becomes more decentralized. It can be used for governance right, proving right, and sequencing right.

Governance right

Scroll will decentralize governance first via the Scroll DAO. It aims to distribute this power to the community, to ensure Scroll’s network is resistant of any centralized entity.

Proving right

Once governance is sufficiently decentralized, our prover is the next step. For long-term sustainability, the protocol must be designed to incentivize external parties to run provers and optimize for the best prover performance. SCR will be involved within the miner community and creating a robust prover network.

Sequencing right

Once the prover network has been established and battle-tested, Scroll will decentralize the sequencer. The sequencer orders transactions and produces layer 2 blocks.

SCR enables Scroll to decentralize Scroll’s governance, provers, and sequencer in our development roadmap. It plays a critical long-term role in Scroll’s core protocol design.

SCR can be used to open up new design spaces and unlocks features that can improve user experience as well as convert all Scroll users into owners and guardians of the Scroll protocol.

SCR Token Distribution

Scroll has announced the distribution of its token supply with a focus on community engagement and ecosystem growth.

scroll.io/blog/scr-token#about-the-scr-token-launch

• Airdrops (15%): 7% of tokens will go to the first airdrop, rewarding active Scroll users and contributors, with 8% reserved for future airdrops over the next 12-18 months.

• Ecosystem & Growth (35%): This large portion is aimed at fostering the Scroll ecosystem, with 10% allocated to the Scroll DAO Treasury, and a collaboration with Binance (5.5%) for global reach. Remaining tokens will be distributed to ecosystem partners over 4 years.

• Scroll Foundation Treasury (10%): 10% of tokens are allocated to the Scroll Foundation to support its operations, with gradual unlocking over 4 years.

• Core Contributors (23%): This portion goes to the core team and advisors, with tokens vested over 4 years, starting 1 year after the SCR launch.

• Investors (17%): Investors are allocated 17%, with tokens unlocking after 1 year and fully unlocked by year 4.

This distribution reflects Scroll’s mission to create a decentralized, community-driven platform while rewarding contributors and fostering ecosystem growth.

Scroll currently has $746.62 million in total value locked.