On October 8, 2024, Layer 2 scaling solution Scroll announced its highly anticipated SCR governance token airdrop details. The Snapshot airdrop will occur on October 19, with tokens distributed on October 22.
Scroll’s total supply of SCR tokens is set at 1 billion, with the allocation breakdown as follows:
- 15% for two Airdrops (7% for the first round, with the second round expected within 18 months)
- 25% for an ecosystem development fund to support projects built on Scroll
- 10% for the Scroll DAO Treasury
- 10% for the Scroll Foundation
- 23% allocated to key contributors of the Scroll project
- 17% for investors
The development team emphasized that the tokenomics have been carefully structured to reward the community fairly. More details about eligibility and the process for claiming the airdrop will be shared soon.
Binance, the world’s largest cryptocurrency exchange, has announced that SCR will be available through its Launchpool program. Users can stake BNB and FDUSD to farm SCR tokens for two days, from 2024-10-09 00:00 (UTC) to 2024-10-10 23:59 (UTC). Although Binance has not yet announced the listing time on its spot market, SCR will first appear in the pre-market phase.
Pre-market trading shows SCR priced around $1.75, equating to a market capitalization of approximately $330 million based on an initial circulating supply of 190 million SCR.
Scroll is among the most recent Layer 2 projects to issue its token, with competitors like Linea planning upcoming launches. Scroll integrates Zero Knowledge Proof (ZKP) technology, which enhances data accuracy while ensuring user security.
The project has garnered significant interest, having raised $80 million in funding, with its valuation reaching $1.8 billion as of March 2023. According to L2 Beat, Scroll boasts a Total Value Locked (TVL) of over $1.1 billion, ranking it 6th among Layer 2 projects, outperforming competitors such as ZKsync, Linea, and StarkNet.
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