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Cryptocurrency News Articles
Scroll Network Takes First Steps Towards Decentralization With Launch of SCR Token
Oct 14, 2024 at 07:02 am
#Scroll Network has taken its first step towards decentralization. It has announced the launch of #scr Token. Its vision is to provide access to a global
Scroll Network has announced the launch of SCR Token as part of its efforts to provide access to a global distributed network of applications and services. The SCR token is now available for pre-market trading on Binance.
Here are the details of the SCR coin launch:
- Currency name: Scroll (SCR)
- Total supply of the currency: 1,000,000,000 SCR
- Airdrop shot date: October 19, 2024
- Coin launch date and airdrop claim availability: October 22, 2024
Airdrops - 15%
As part of Scroll's commitment to community ownership and broad distribution, 15% of the total token supply will be allocated to airdrops. This includes 7% for the first airdrop and 8% for future airdrops to be conducted over the next 12-18 months.
The first airdrop aims to reward active on-chain users and contributions to Scroll research, open source development, educational initiatives, and public institutions.
The project team explains the significance of SCR in the context of Scroll's development roadmap, stating, “We are ready for the next chapter of Scroll — building a scalable and secure infrastructure and driving real-world adoption with global distribution. SCR plays a critical role in achieving this mission, particularly with regard to the core protocol design and long-term sustainability of the Scroll ecosystem.”
The Scroll Network will integrate Scroll governance, testing, and serialization tools into its development roadmap, playing a crucial long-term role in the design of the core Scroll protocol. Notably, SCR will enable the creation of new design spaces and features to enhance user experience and empower Scroll users as owners and custodians of the protocol.
SCR Benefit and Value
SCR will serve as the primary governance mechanism for the protocol, transitioning to a protocol utility token as Scroll becomes increasingly decentralized.
In the context of building a decentralized aggregation protocol, three valuable rights will be progressively decentralized, outlining how SCR can contribute to each stage.
1. Right to governance
Scroll will initially decentralize governance through the Scroll DAO. To ensure that the Scroll Network is resistant to being taken over by any central entity, it is crucial that this power be distributed throughout the community.
2. Proof of truth
Once governance is sufficiently decentralized, the next step is to introduce our own proofer. For the long-term sustainability of the protocol, it must be designed to incentivize third parties to run proofers and optimize their performance. SCR will contribute to aligning the mining community and establishing a robust proofer network.
3. Correct sequence
Scroll will decentralize the chain once the network of validators is built and tested. The chaining device will be responsible for ordering transactions and generating layer 2 blocks, ensuring high guarantees of liveness and resistance to real-time censorship. SCR will be an integral part of the design of the relevant mechanism, ensuring that chaining devices provide final guarantees for an optimal user experience.
Moreover, SCR has broader use cases that can significantly impact community alignment, ecosystem projects, and contributors. As Scroll builds toward providing a robust and user-friendly aggregation experience for its global community, further details on research directions will be shared.
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