Ethereum Layer-2 scroll tips to launch a native token
Scroll is preparing to launch its native token SCR, which it describes as its “first step towards decentralization” of the Ethereum Layer-2 (L2) network.
On October 22, Scroll plans to list SCR on Binance and launch the token among existing users of the network, according to an October 8 blog post.
In the context of scrolling, “SCR is used as the protocol's primary management mechanism and becomes a protocol utility token when scrolling becomes more decentralized.”
The total supply of the token is 1 billion SRR, with 15% for airdrops, 35% for ecosystem growth and 17% for investors. The rest goes to the package foundation (10%) and contributors (23%).
Source: Scroll
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Scroll is a Zero Knowledge (ZK) package that competes with L2s like ZKsync Era and Starknet.
ZK-rollups will eventually replace promising ones like Arbitrum and Base – as Ethereum's main tokenization solutions.
Compared to optimistic prospects that usually take more than seven days to complete transactions, ZK-rollups are usually completed in minutes.
They face competition from L2s using alternative approaches such as movement labs post-validation.
Scroll's developers operate the network's core infrastructure — including the Challenger and its sequels — but laid out a detailed roadmap for decentralization in January.
“SCR will allow us to decentralize the management of Scroll, provers, and serializers in our development roadmap,” Schible said.
In ZK-rollup, a prover certifies the authenticity of transactions, and serializers order transactions before they are posted to the network.
“SCR is involved in bringing together the mining community and creating a strong prover network,” said Shible.
In the year Since its launch in 2023, Scroll has posted the fastest total locked-in value (TVL), at $1.2 billion as of Oct. 8, according to L2Beat.
In comparison, ZKsync Era and Starknet command about $850 million and $625 million in TVL, respectively.
According to a blog post, Scroll plans to distribute 7% of SCR's total supply by the upcoming October 22 weather.
The purpose of the airdrop is to “reward onchain users who are actively engaged with the Scroll ecosystem,” Sroll said.
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