Layer-2 Network Scroll Shares Plans for SCR Token Airdrop

The team said that the SCR token would be the first step in its roadmap to decentralization.

Layer-2 Network Scroll to Launch SCR Token, Airdrop Set for Oct. 22

Airdrop will comprise 7% of total 1 billion SCR tokens.

Web3 technology company Scroll, the team behind the layer-2 network, shared Tuesday that it plans to launch a SCR token to support the blockchain.

In a blog post, the Scroll team said that the SCR token will be the first step in its roadmap to decentralization, with the token set to be used for governance and sequencer decentralization.

“SCR will be used as a primary governance mechanism of the protocol and progress to being a protocol utility token as Scroll becomes more decentralized,” the team wrote. After the governance has made progress in decentralization, the token will also be used to support decentralization of Scroll’s prover and sequencer.

The team shared that 15% of its total token supply will go towards airdrops, with this first one, happening on Oct. 22, having 7% of the share. There will be a total of 1 billion SCR tokens.

Some 17% will be allocated to investors, and 10% will go towards the Scroll Foundation. The rest will be split up for the Scroll ecosystem as well as Scroll contributors.

The token will be launched via Binance Launchpool, which will receive a 5.5% token allocation in rewards.

“We are ready for the next chapter of Scroll – to build scalable, secure infrastructure and drive towards real-world adoption with global distribution,” the Scroll team wrote in a blog post.

Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.