Scroll is preparing to launch its native token, SCR, marking the "first step towards decentralization" in the Ethereum layer 2 (L2) network, with plans to list SCR on Binance on October 22 and distribute tokens to current network users.
SCR will be used as the primary governance mechanism of the protocol and will evolve into a utility token as Scroll becomes more decentralized. The total token supply is 1 billion SCR, with 15% allocated for Airdrop, 35% for ecosystem growth, 17% for investors, 10% for the Scroll Foundation, and 23% for contributors.
Source: Scroll
Scroll is a zkRollup scaling solution for Ethereum, aimed at improving its performance and usability. It is based on a technology called zkRollup, which allows the network to process more transactions without compromising security. Scroll aims to make using Ethereum faster and cheaper, ensuring that more people can participate in the Ethereum ecosystem.
Transactions on zkRollup are typically resolved within a few minutes, while transactions on Optimistic Rollup can take up to seven days.
Scroll also faces competition from other L2s using alternative verification methods, such as Movement Labs.
The Scroll developers operate the network's core infrastructure - including the prover and sequencer - and have released a detailed roadmap towards decentralization in January. SCR will enable the decentralization of Scroll's governance, prover, and sequencer as the project evolves.
Scroll stated that SCR will be involved in engaging the Miner community and building a strong staking network.
Since its launch in 2023, Scroll has quickly grown its TVL to $1.2 billion as of the time of writing, according to L2Beat. For comparison, ZKsync Era and Starknet have TVLs of around $850 million and $625 million, respectively.
Source: L2Beat
According to the blog post, Scroll plans to distribute around 7% of the total 1 billion SCR token supply in the upcoming Airdrop on October 22, to "reward onchain users who have actively participated in the Scroll ecosystem."
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According to Cointelegraph
