Ethereum Layer 2 Blockchain Scroll Airdrop Announcement

The team behind Ethereum Layer 2 blockchain Scroll has announced it will allocate 7% of the total SCR token supply in its first airdrop, stirring criticism from community members.

> "Our first airdrop fairly rewards key contributors within the Scroll ecosystem. The allocation of SCR tokens reflects the importance of participation, involvement, and community support,” stated Scroll in a blog post on Monday morning.

Airdrop Details

An estimated 570,000 wallets will receive 5.5% of the token supply, including over 600 open-source contributors, 115 technical contributors, more than 100 ZK researchers, and over 10 public goods organizations and data providers.
The recipients of the “community drop” will collectively receive 55,000,000 SCR tokens, valued at approximately $77,000,000. Out of this, 40 million SCR tokens will be proportionally distributed among on-chain participants who have accumulated Scroll’s marks by a snapshot taken on October 19.

The SCR token price has increased by 6%, currently trading at $1.40.

Additionally, 10 million tokens, or 1% of the total supply, have been allocated as a “Flat Boost” to ensure all on-chain participants receive a meaningful drop, regardless of their collected marks.

Community Concerns

Despite the excitement for the token distribution, many community members have raised concerns regarding the airdrop design. User Andrew 10 GWEI expressed disappointment, stating that the approach favors regular users poorly compared to retail users.
Specifically, they highlighted that 5.5% of tokens were allocated to Binance Launchpool, allowing whales to dominate the purchase and potentially dump the tokens in the market later.

Furthermore, the top 10 wallets hold over 10% of all accrued marks, while the top 100 have around 30% of total marks.

> "It's hard to call it decentralization when such a large share of token supply falls into the hands of a few people,” Andrew remarked.

Concerns are also raised regarding the tokenomics, with 23% of tokens allocated to the team and 10% to fundraising, worth approximately $322 million at current prices.

> “I don't see any fair justification for the team to claim airdrop allocations aimed at rewarding loyal users,” said Andrew.

Scroll, known for its use of zero-knowledge proofs to scale Ethereum, stands as one of the last notable Layer 2s to launch a native token airdrop.