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Scroll launched its SCR token to decentralize governance, reward contributors, and allocate $100 million for community innovations and projects.
Key Notes
A total of $100 million has been allocated to reward users and support innovative projects through Scroll Open.SCR token holders can participate in critical governance decisions, promoting a community-driven ecosystem.The SCR token started trading on major exchanges with initial prices at 1.94 USDT, dropping to 1.268 USDT shortly after launch.Scroll announced the launch of its native token SCR today. The platform is a leading zero-knowledge rollup for Ethereum. Its SRC token is set to decentralize decision-making and reward its global community of contributors. The token has started trading on top crypto exchanges.
The SCR token allows users to participate in Scroll’s governance, lending their voice on critical issues that could shape the platform’s future. This is part of Scroll’s broader effort to move away from centralized control and build a truly decentralized ecosystem.
The developers have set aside $100 million for distribution to reward users and foster innovations within the Scroll community. These rewards will go to people who have supported the platform — whether through developing projects, participating in on-chain activities, or contributing to technical advancements. The first round of airdrops will include participants such as developers, hackathon winners, and community organizers.
Innovative Funding Initiatives: Scroll Open and the $100 Million Allocation
Scroll is also launching Scroll Open, a program that provides retroactive grants to builders who create innovative projects on the platform. The goal is to foster creativity and growth within the Scroll ecosystem by supporting the most impactful work with grants of a potential allocation size of $100 million.
The combination of SCR and Scroll Open shows Scroll’s commitment to creating a vibrant community of innovators and developers, ensuring that contributions to the platform are recognized and rewarded.
Trading Launch and Market Reactions: SCR Token’s Debut Performance
Scroll’s zero-knowledge technology enhances the speed, security, and interoperability of transactions, thereby increasing the value of the SCR token. Following its launch, the SCR token began trading on major exchanges such as Bybit and OKX. Initial trading prices started at 1.94 USDT USDT $1.00 24h volatility: 0.1% Market cap: $120.28 B Vol. 24h: $55.53 B but have since dropped to 1.268 USDT.
The Scroll (SCR) listing on Binance, initially set for 16:00 (UTC+8) today, has been delayed by one hour. It will now take place at 17:00 (UTC+8). Raza Zaidi, Head of Growth at Scroll, explained the importance of the SCR token launch. He stated:
“The launch of $SCR embodies the momentum of our protocol’s evolution. This token aims to help decentralize governance while enhancing our technical infrastructure. Our commitment to a fully decentralized ecosystem ensures that $SCR will play a critical role in driving the future growth and resilience of our platform.”
Scroll co-founder Sandy Peng added to Zaidi’s statement that the platform is poised to build a safe and secure decentralized world. Peng noted that the SCR token powers the community and incentivizes users, which helps create a stronger ecosystem. She further mentioned that the launch is just the start of a new beginning, and the community will be a major force driving the platform’s innovation and growth.
The launch has already drawn attention within the crypto community, with commentators like “King.sol”, who boasts over 120,000 followers, sharing their experiences of receiving SCR tokens after participating in blockchain transactions worth over $100,000, alongside $500 in transaction fees.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
