Scroll, a zkRollup scaling solution for the Ethereum network, has announced an airdrop of its native token, SCR. The asset is set to debut on the Binance launchpool.
The SCR token enables Scroll’s mission to build a scalable, secure infrastructure and accelerate real-world adoption with global distribution.
Scroll reveals plans for SCR
The Scroll ecosystem is planning an airdrop event as part of its token distribution strategy. Out of a total of 1 billion tokens, 15%, or 150 million tokens, have been allocated for airdrops, divided into two phases — 7% and 8%, respectively.
“We are allocating 7% of the total tokens to our first airdrop and will reserve 8% of the total tokens for future airdrops, which are expected to occur over the next 12 to 18 months,” the announcement read.
The SCR airdrop snapshot will take place on October 19, three days before the token launch date, when participants will be able to claim their allocations. The token generation event (TGE) and verifier will be deactivated on October 22.
Scroll SCR Token Distribution, Source: official blog
Scroll said the first phase of the airdrop will focus on rewarding on-chain users for their engagement with the ecosystem. It will also reward the Scroll community for their significant contributions to the protocol development, community, and ecosystem growth. Details on eligibility to claim SCR airdrops are still unclear at this time.
“This suggests that perhaps the FIRST airdrop will be for on-chain activity (volume, smart contracts…) and then for our brands (within 12-18 months),” a popular airdrop farmer on X noted.
Read more: Cryptocurrency Airdrops – Get Free Tokens!
Meanwhile, Binance has announced 55 million SCR as token rewards from the launch pool, representing 5.5% of Scroll’s total token supply. As reported by BeInCrypto, Scroll’s SCR token will debut on the Binance launch pool on October 11, with an initial circulating supply of 190 million tokens.
As such, airdrop farming will begin on Wednesday, October 9. Binance has asked participants to lock up their BNB and FDUSD for two days to receive SCR tokens.
Additionally, the token will serve multiple use cases, including the protocol’s core governance mechanism. It will also move towards becoming a utility token of the protocol amid the Scroll network’s progressive decentralization goals.
“There are three valuable rights to the design of the rollup protocol that need to be decentralized and here is how SCR can be involved in all of them: Governance Right, Proof Right, Sequencing Right,” Scroll explained.
The article Scroll announces airdrop ahead of Binance listing appeared first on BeInCrypto Brasil.
