Ethereum Layer 2 Scroll to Airdrop 15% of SCR Token to its Community
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Scroll, the sixth-largest Ethereum Layer 2 by value locked, today announced details of its token distribution.
The project allocated 15% of its total 1 billion supply to two airdrops, 7% earmarked for the first and 8% to the second, intended to take place over the next 12-18 months. Investors will receive 17%, while 25% is assigned to ecosystem and growth, and 10% to the Scroll DAO treasury. The Scroll Foundation will receive 10% and contributors will have 23% allocated to them.
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Source: Scroll
Scroll will take a snapshot to determine airdrop eligibility on Oct. 19, with the token’s mainnet launch and airdrop claims scheduled for Oct. 22.
SCR Anticipation
Scroll, a zkEVM rollup, currently ranks as the sixth-largest Ethereum Layer 2 with a total value locked (TVL) of $1.18 billion, according to L2beat.
Scroll’s TVL exploded after the project debuted its points program on April 18, with its TVL growing 647% from $186.1 million to an all-time high of $1.39 billion on July 22. The Pencils Protocol farming dApp is Scroll’s largest DeFi project with a $286 million TVL, followed by Aave with $162.3 million, according to DeFi Llama.
Scroll has long been subject to airdrop anticipation, with more than 180,000 unique wallets interacting with Scroll’s alpha testnet within one month of its Feb. 28, 2023, launch.
Binance Announcement
The SCR token listing is one of the most highly anticipated in decentralized finance, but some traders weren’t thrilled that Binance disclosed its tokenomics a full five hours ahead of the Scroll team.
“Is Binance front-running TGE announcements?” asked crypto analyst and co-founder of the DeFi creator studio Pink Brains, Ignas.
Ignas was also upset over the details of token allocations. According to Binance, 5.5% of the total supply will go to Binance whales for two days of farming.
Scroll did not immediately reply to a request for comment from The Defiant.
A spokesperson for Binance denied any sort of front-running, and pointed out that pre-market trading lets users take an early position before a token's spot market listing.
Binance unveiled its pre-market trading platform on Sept. 25, allowing users to trade Launchpool tokens prior to the launch of official spot markets.
Launchpool Stakers
On Oct. 8, Binance announced it will list SCR for Launchpool staking on Oct. 9. Users will be able to stake the FDUSD stablecoin or Binance’s BNB token over two days to earn a share of 55 million SCR or 5.5% of the token’s supply.
Launchpool stakers will be limited to earning 97,395 SCR per hour from the BNB pool and 17,187 SCR hourly from the FDUSD pool. The BNB pool will distribute 4.675% of SCR’s supply, with 0.825% earmarked for FDUSD stakers.
Binance will then list “pre-market” trading for SCR on Oct. 11. Binance said 19% of SCR’s supply will circulate when pre-market trading debuts. SCR withdrawals, transfers, and deposits will be suspended during pre-market trading. Binance said it will exclusively host SCR markets during pre-market trading.
Users in 11 jurisdictions, including the United States, Canada, Japan, and Australia, cannot participate in Launchpool staking.
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