Scroll Announces First Token Airdrop to Support Ecosystem Contributors
The team behind Scroll, an Ethereum Layer 2 blockchain, recently announced its first airdrop of its token, SCR, representing 7% of the total token supply.
This announcement, which was eagerly awaited by many users, quickly sparked negative reactions on social media, with some expressing their frustration with the distribution strategy.
Scroll’s airdrop aims to reward the key contributors in the ecosystem fairly. A total of 5.5% of the SCR supply will be distributed to over 570,000 wallets, including 600 open-source contributors, 115 technical contributors, ZK proofs specialists, public welfare organizations, and data providers.
This community drop will distribute 55,000,000 SCR tokens, worth around $77 million. A significant portion of these tokens, 40 million SCR, will be allocated proportionally to on-chain participants who have accumulated marks (a version of participation points on Scroll) before the snapshot date on October 19th.
One point of contention is that this snapshot was announced before the SCR’s launch on Binance, which seems unusual.
In addition, there is another program called ‘Flat Boost,’ representing 1% of the total token supply (10 million SCR). This program aims to ensure that all participants receive a significant token allocation, regardless of the number of marks accumulated.
The Community Divided over the Token Distribution
Although this airdrop was eagerly anticipated, some of the community quickly expressed their dissatisfaction. Many users criticize the distribution of tokens, considering it imbalanced, particularly in favor of certain institutional actors.
One major point of contention is the decision to allocate 5.5% of the SCR tokens to Binance Launchpool. According to several users, this enabled ‘whales’ (large token holders on Binance/BNB) to acquire the majority of the tokens even before the public distribution began.
Concentration of Marks and Controversial Tokenomics
Another point of contention is the concentration of marks (participation points). The top 10 wallets alone hold more than 10% of all marks, while the top 100 wallets represent about 30% of the total. For many users, this goes against the decentralization principles promoted by Scroll.
Beyond the distribution among users, some critics question the role of the Scroll team in this distribution. With 23% of the total supply reserved for the development team and 10% allocated to the fundraising, these two portions combined represent tokens valued at an estimated $322 million at current prices.
For some, these numbers raise concerns about the fairness of the token distribution.
The Importance of a Successful SCR Airdrop for Scroll
The distribution of SCR tokens marks a significant milestone for Scroll, one of the latest Ethereum Layer 2 projects to launch its native token. However, the controversy surrounding this airdrop highlights the challenges faced by blockchain projects in finding the right balance between rewarding contributors, decentralization, and satisfying regular users.
As the price of SCR currently hovers around $1.40, with a market capitalization of $265 million and a total valuation of $1.4 billion, the future of the platform will largely depend on its ability to address criticisms and adjust its distribution strategies to avoid further discontent.
