Scroll is preparing to launch SCR, its native token, which the Ethereum layer-2 (L2) network describes as “the first step toward decentralization.”
According to an October 8 blog post, Scroll plans to list SCR on Binance on October 22 and airdrop the tokens to existing users on the network.
According to Scroll, “SCR will be used as the main governance mechanism for the protocol and will evolve into a protocol utility token as Scroll becomes more decentralized.”
The total supply of tokens is 1 billion SCR, with 15% reserved for airdrops, 35% for ecosystem growth, and 17% for investors. The remainder goes to the Scroll Foundation (10%) and contributors (23%).
Source: Scroll
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Scroll is a zero-knowledge (ZK) rollup that competes with L2s such as ZKsync Era and Starknet.
ZK Rollup is expected to eventually replace optimistic rollups such as Arbitrum and Base as Ethereum’s main scaling solutions.
Compared to optimistic rollups, which often take seven days or more to complete a transaction, ZK rollups are typically settled within minutes.
They face competition from L2 using alternative approaches, such as Movement Labs’ hindsight.
Scroll’s developers operate the network’s core infrastructure, including provers and sequencers, but outlined a detailed roadmap for decentralization in January.
“SCR allows us to decentralize Scroll’s governance, provers, and sequencers in our development roadmap,” Scroll said.
In a ZK rollup, a prover proves the correctness of a transaction and a sequencer orders the transaction before publishing it to the mainnet.
“SCR will participate in coordinating the miner community and creating a strong prover network,” Scroll said.
Since its launch in 2023, Scroll has quickly bootstrapped its Total Value Lock (TVL), reaching $1.2 billion as of October 8, according to L2Beat.
In comparison, ZKsync Era and Starknet have about $850 million and $625 million in TVL, respectively.
According to the blog post, Scroll plans to distribute approximately 7% of SCR’s total supply of 1 billion tokens in an upcoming airdrop on October 22nd.
Scroll said this airdrop aims to “reward on-chain users who have been actively participating in the Scroll ecosystem.”
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