Scroll (SCR) is a Layer 2 scaling solution for Ethereum that uses zkRollup technology to improve performance and reduce transaction costs on the Ethereum network. The SCR token plays a significant role in the Scroll ecosystem, used for governance and various protocol activities.
Price and Market Capitalization Update:
As of November 1, 2024, SCR's price is approximately $0.6778, a 1.69% decrease from the previous day. The highest price for the day reached $0.6907, with a low of $0.6546. SCR’s current market capitalization stands at around $127.85 million, with a circulating supply of 190 million tokens out of a total maximum supply of 1 billion tokens.
Token Allocation and Vesting Schedule:
The total supply of SCR is 1 billion tokens, allocated as follows:
Airdrop:
15% (150 million tokens), with 7% (70 million tokens) already distributed on October 22, 2024, and the remaining 8% expected to be distributed over the next 12-18 months.
Ecosystem and Development:
35% (350 million tokens), including 10% for the Scroll DAO Treasury, 5.5% for the Binance Launchpool, and 19.5% for ecosystem partners.
Investors:
17% (170 million tokens), with vesting beginning after the first year and completing by the end of the fourth year.
Team:
23% (230 million tokens), following a vesting schedule similar to that of investors.
Scroll Foundation Fund:
10% (100 million tokens), with 20 million tokens unlocked at launch and the remaining 80 million tokens gradually released over four years.
Functions of the SCR Token:
Governance:
SCR holders can participate in voting on crucial decisions regarding the development and direction of the Scroll protocol.
Decentralization:
SCR is used to decentralize the transaction proving and sequencing processes within the Scroll network.
Analysis and Outlook:
The launch of SCR on Binance Launchpool and other major exchanges has garnered significant attention from the community. However, SCR’s price has declined from previous highs, reflecting the overall volatility of the cryptocurrency market. With a reasonable token allocation and a clear development roadmap, SCR has potential for long-term growth, especially as Scroll continues to expand and attract more users and developers to its ecosystem.
Investors should closely monitor announcements from the development team and market trends to make well-informed investment decisions.