The Scroll team, driving the development of a layer-2 network, announced on Tuesday its intention to introduce the SCR token, aiming to bolster the blockchain's capabilities. In a recent blog post, the team outlined that the SCR token would serve as the foundational step in their decentralization roadmap.
According to the team, the SCR token is envisioned to primarily function as a governance mechanism for the protocol, eventually evolving into a utility token as Scroll progresses towards greater decentralization. Following significant advancements in decentralization governance, the token is also slated to support the decentralization of Scroll's prover and sequencer. The team disclosed that 15% of the total token supply is earmarked for airdrops, with the initial airdrop, scheduled for October 22, allocating 7% of the share. The total supply of SCR tokens is set at 1 billion.
A portion of 17% is allocated to investors, while 10% is designated for the Scroll Foundation. The remaining allocation will be distributed among the Scroll ecosystem and contributors. The token's launch is set to occur via Binance Launchpool, which will receive a 5.5% token allocation as rewards. As stated by the Scroll team in their blog post, "We are poised for the next chapter of Scroll – building scalable, secure infrastructure and driving towards real-world adoption with global distribution." For more information, read about the launch of Scroll zkEVM and its competitive landscape with Polygon and Matter Labs.