What is Scroll? Information about SCR Token

What is Scroll?

Scroll is a Layer 2 project on Ethereum, launched in early 2021, utilizing ZK-Rollups technology to address Ethereum’s limitations, such as high transaction fees and slow processing speeds. Over time, Scroll has developed zkEVM technology, ensuring full compatibility with Ethereum.

In general, Scroll is a Layer 2 solution based on the ZK-Rollups model, offering unlimited scalability, ultra-fast confirmation times, decentralization, and high security. Scroll achieves this by building its ZK-Rollups platform with a high-performance off-chain system and innovations such as a new tiered zero-knowledge proof system, efficient interaction channels, and the Layer 2 Mining model.

After a period of development, Scroll was announced by Binance as the 60th Launchpool project, with the token ticker SCR.

Scroll’s Operating Model

Currently, Scroll’s operating model includes three main components:

Scroll Node: Responsible for sending transactions from Layer 2 to Layer 1.
Roller Network: Generates zkEVM proofs to verify the validity of transactions.
Rollup and Bridge Contracts: Provides data, verifies zkEVM proofs, and allows users to transfer assets between Ethereum (L1) and Scroll (L2).

Data is generated and confirmed on L2, after which the Sequencer in the Scroll Node creates consecutive blockchain sequences. Verification proofs are sent to the smart contract, passing through Precommitted, Committed, and Finalized stages before being added to the Scroll blockchain.

Key Features of Scroll

The Scroll project has many notable and promising aspects, such as:

EVM Compatibility

Scroll uses advanced zkEVM technology, allowing full compatibility with the Ethereum Virtual Machine (EVM). This enables developers to easily port their decentralized applications (DApps) to Scroll without worrying about programming errors or compatibility issues. This flexibility saves time and resources while facilitating the development of new features more easily.

Scalability

By using Rollups technology, Scroll can handle off-chain transactions, reducing transaction costs and increasing throughput compared to Ethereum. This improves speed and operational performance, making Scroll a notable scalability solution for Ethereum.

Security

Scroll’s security has been verified by third-party organizations, ensuring user safety. At the same time, the project emphasizes transparency in the development process to increase decentralization and attract community participation.

Scroll Ecosystem

As of October 10, 2024, Scroll’s ecosystem has achieved a total value locked (TVL) of 780 million USD, ranking in the top 5 Layer 2 ecosystems. Hundreds of decentralized applications (DApps) are operating on Scroll, including:

AMM (Automated Market Maker): Dex exchanges like Ambient, SyncSwap, Tokan Exchange, Zebra, and Uniswap facilitate token swaps and liquidity provision.
Lending: Lending and borrowing protocols such as AAVE V3, Layerbank, Compound V3.
Yield: Protocols that generate yield from assets, such as Tranchess Yield.
Launchpad: Token issuance platforms that allocate to the community.
Derivatives: Leveraged trading such as Rollie Finance and Symmetry Trade.
Liquidity Manager: Managing liquidity through protocols like Gamma.

Scroll is not only strong in technology but also significantly expanding its ecosystem, offering great potential for users and developers in the future.

Team

Sandy Peng – Co-Founder: Sandy graduated from the University of Cambridge with a Bachelor of Arts in Social and Political Sciences. She later earned a Master’s degree in Law, Anthropology, and Society from the London School of Economics (LSE). Before entering blockchain in 2019, Sandy worked for nearly 10 years in traditional finance, including as Deputy Manager at the Securities and Futures Commission and later with Fission Capital, a blockchain-focused investment fund.
Haichen Shen – Co-Founder: Haichen holds a Bachelor’s in Computer Science from Tsinghua University and completed a Ph.D. in Computer Science at the University of Washington, USA. He has interned at Microsoft and Google and worked at Amazon in the field of Artificial Intelligence (AI).
Ye Zhang – Co-Founder: Ye graduated with a Bachelor’s in Electrical Engineering from Peking University in 2020 and is currently pursuing a Ph.D. in Computer Science, expected to complete in 2025. Scroll is his first startup project.

Investors

Scroll has attracted interest and investment from major funds, raising over 83 million USD through three funding rounds.

April 21, 2024: Scroll raised 30 million USD from investors such as Polychain Capital, Bain Capital Crypto, and others.
March 6, 2023: Scroll raised 50 million USD at a valuation of 1.8 billion USD, with investors including Polychain Capital, Sequoia China, Bain Capital Crypto, and more.

Scroll Airdrop

Scroll has allocated 15% of its total SCR tokens for those interacting with its ecosystem, with 8% distributed in Season 1 (before TGE) and 7% in Season 2.

Roadmap

To be updated.

Similar Projects

Scroll is a Layer 2 utilizing ZK-Rollup technology, similar to zkSync and StarkNet.

Overview of SCR Token

Scroll’s native token is SCR.

Basic Information

Token Name: Scroll
Ticker: SCR
Blockchain: Scroll
Smart Contract: 0xd29687c813D741E2F938F4aC377128810E217b1b
Total Supply: 1,000,000,000
Max Supply: 1,000,000,000
Circulating Supply: 190,000,000

SCR Token Allocation

Airdrop – 15%: 7% for the first airdrop and 8% for the second, expected within 12-18 months after TGE.
Ecosystem & Growth – 35%: 10% for Scroll DAO Treasury, 5.5% for Binance Launchpool, and 19.5% for ecosystem partners.
Scroll Foundation – 10%: Manages Scroll DAO, with 20 million SCR unlocked at TGE and the rest distributed over four years.
Scroll Contributors – 23%: Locked for the first year, unlocking over the following three years.
Investors – 17%: Locked for the first year, unlocking over the next three years.

SCR Token Release Schedule

All SCR tokens will be fully unlocked within four years of the TGE in October 2024.

Use of SCR Token

Governance: SCR holders can participate in governance and propose ideas through Scroll DAO.
Incentives: SCR is used to incentivize Provers and Sequencers and may be used for staking to further decentralize the network in the future.

Buying SCR Tokens

Investors can buy and sell SCR tokens on exchanges such as Binance, OKX, and Bybit after the TGE.

Scroll’s Potential

Layer 2 Technology: Scroll provides a solution to reduce fees, increase speed, and enhance security for Ethereum. Although it lacks the strong backing of projects like zkSync or StarkNet, Scroll’s TVL demonstrates its superior performance.
Vitalik’s Support: Scroll uses ZK-Rollup technology, which is strongly endorsed by Vitalik Buterin, instilling confidence in its long-term development.
Experienced Team: Scroll’s development team has a solid foundation, and major investors like Polychain Capital provide reliable backing.
Fair Token Allocation: With 50% of tokens allocated to the community, Scroll demonstrates its commitment to future ecosystem development.
Moderate Inflation Rate: With a four-year release schedule, SCR’s inflation rate is considered moderate, similar to many other Layer 2 projects.

Scroll promises to be a strong contender in the Layer 2 ecosystem, particularly with its technology and community support.