Scroll (SCR) Token Airdrop via Binance Attracts Over 1.6 Million Participants

The Scroll's SCR token airdrop via Binance has attracted over 1.6 million participants through the BNB and FDUSD liquidity pools.

The Scroll (SCR) token airdrop via Binance has attracted over 1.6 million participants through the BNB and FDUSD liquidity pools.

Earlier this month, Binance announced the launch of Scroll (SCR) as the 60th project on its Launchpool platform. The distribution of SCR tokens through Binance farming and other means of fair distribution has garnered significant attention.

As of this writing, over 18 million BNBs (about $600 million) have been locked by more than 1.56 million Binance users on the BNB pool to farm the Scroll tokens. In the FDUSD pool, over $2.29 billion has been locked by nearly 83,000 participants to farm the SCR tokens. As a result, the Scroll token airdrop remains one of the most anticipated in the recent past.

Meanwhile, Binance has announced plans to list the SCR token with the Bitcoin (BTC) and Tether (USDT) trading pairs on its spot platform after concluding the pre-market trading period by October 21.

Scandals in the Scroll Token Airdrop Uncovered

According to on-chain sleuth Andrew 10 Gwei, the Scroll core team has been awarding themselves SCR token airdrops in the recent past. The on-chain sleuth highlighted that some of the Scroll founder’s wallets have received between 10k to 1 million marks, which are directly tied to the upcoming SCR token airdrop.

“Most of the wallets in this top with 200k+ marks are project wallets: L0, Orbiter, Rhino, Owlto, Relay, and others. These are the wallets that are needed to run their bridge contracts etc. (As I understand it) and with tens and hundreds of thousands of transactions,” Andrew noted.

While the SCR token airdrop has not yet taken place, the chances of the founders’ wallets receiving a major stake remain high. The Scroll founder’s team, led by Sandy and Haichen Shen, has been put under the spotlight for attempting to cheat the community through the upcoming airdrop. Notably, the launch of the SCR token airdrop was meant to enhance the protocol’s decentralization by giving users governance powers.

As Coinspeaker previously explained, the SCR token will have a total supply of 1 billion, with 15% reserved for the airdrop. The Scroll contributors received a total of 23% of SCR tokens, and 17% is reserved for the Scroll investors. The remaining 35% and 10% were allocated to Scroll’s ecosystem growth and the Scroll Foundation respectively.

Last year, Scroll raised $50 million from several investors led by Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, and Newman Capital, among others. The company promised to deliver a seamless zero-knowledge rollup on the Ethereum network.

As of this writing, the Scroll network has a total value locked of about $968 million and a stablecoins market cap of about $140 million. Some of the top DeFi projects on the Scroll network include Pencils protocol, AAVE V3, and Tokan Exchange, among others.

Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!

Steve Muchoki on LinkedIn

Julia Sakovich on Xoutput: