Scroll’s Layer 2 Network Announces SCR Token Launch and Airdrop

On October 22, the Layer 2 network Scroll, based on ZK-Rollups, will launch the SCR token and conduct an airdrop. 

About the $SCR Token Launch ⤵

• Token Name: Scroll (SCR)
• Total Token Supply: 1,000,000,000 SCR
• Airdrop Snapshot Date: October 19, 2024
• Token Launch Date and Airdrop Claim Availability: October 22, 2024

3/8

— Scroll (@Scroll_ZKP) October 8, 2024

According to the announcement, the total supply of the asset will be 1 billion SCR. The snapshot for the distribution will be taken on October 19. 

The project’s tokenomics are as follows: 

• 15% of the supply will be allocated for airdrops (7% will be distributed in the upcoming airdrop);
• 35% will be dedicated to ecosystem development; 
• 10% will go to the Scroll Foundation treasury;
• 23% will be allocated to the team (with a one-year lock-up and a four-year vesting period);
• 17% is intended for investors (under the same conditions as the team).

According to the developers, SCR will enable the decentralization of project governance. It is also crucial for the development and protection of the protocol. 

Initially, SCR will serve as a governance token, with plans to evolve into a utility asset. 

“There are three valuable rights for designing a Rollup protocol that need to be decentralized, and here is how SCR is involved in all of them: the right to govern, the right to prove, and the right to order,” the developers explained. 

More detailed information about the SCR launch and airdrop will be provided by the team later. 

The Scroll network was created in 2021 with the aim of scaling Ethereum to a billion users. In October 2023, the project launched its mainnet. 

According to DeFi Llama, the total value locked in the protocol at the time of writing is $740 million. 

Previously, CoinGecko experts calculated the optimal timing for selling airdrop tokens.