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Scroll Launches SCR Token, Airdrop Set for October 22nd
https://ift.tt/Rm3dOhn
This is a big step for Scroll as it moves toward becoming more decentralized. This means that more people can help make decisions about how it runs.
So, what is this token all about? SCR will not only be used to help govern the network. But, it will also become a utility token as Scroll becomes more decentralized.
Scroll’s SCR Token Empowers Users and Speeds Up Transactions
The total supply of SCR will be 1 billion tokens. Here’s how it will be divided:
- 15% will be given away for free in an airdrop, which means existing users of Scroll will receive some SCR just for being part of the network.
- Another 35% is set aside for growing the Scroll ecosystem, which includes things like new projects and partnerships.
- Additionally, 17% will go to investors who help support Scroll. The rest will be split between the Scroll Foundation (10%) and contributors who have helped build Scroll (23%).
Scroll uses a special technology called zero-knowledge (ZK) rollups, which makes it faster and more efficient than some other Ethereum layer-2 solutions. Competing networks, like ZKsync Era and Starknet, also use ZK-rollups, which are expected to take over from older systems known as optimistic rollups, like Arbitrum and Base.
Why is this important?
Well, optimistic rollups can take a long time—sometimes more than seven days—to finalize transactions. In contrast, ZK-rollups can settle transactions in just a few minutes, making them much quicker and user-friendly.
On October 22nd, not only will SCR be listed on Binance, a popular cryptocurrency exchange, but Scroll will also distribute the tokens through the airdrop.
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October 9, 2024 at 06:51AM
October 9, 2024 at 06:55AM
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