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COINTURK NEWS > Cryptocurrency News > Scroll Addresses Community Concerns About Binance Partnership
Cryptocurrency News

Scroll Addresses Community Concerns About Binance Partnership

In Brief

  • Scroll faces criticism over its Binance partnership from community members.

  • Ye Zhang emphasizes the strategic importance of the partnership for growth.

  • Token distribution strategies aim to promote fairness and community involvement.

İlayda Peker
İlayda Peker 7 months ago
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Scroll faces increasing criticism from community members regarding its recent partnership with Binance. The concerns stem from perceptions that significant exchanges are being favored while community members feel inadequately rewarded. In response, Scroll management has taken steps to clarify and defend their position on this matter.

Contents
Ye Zhang Defends the Strategic Value of the Binance PartnershipResponse to Community Concerns Regarding Token Distribution

Ye Zhang Defends the Strategic Value of the Binance Partnership

In addressing the community’s concerns, Ye Zhang, one of Scroll’s founders, emphasizes that the partnership with Binance is not solely for listing purposes. Instead, it represents a strategic move aimed at expanding the project and securing broader market support.

Zhang highlights that Binance’s crucial entrance and exit services for stablecoins are significant for expansion in emerging markets. He noted that in regions where Binance is used, it enjoys greater reliability and popularity than Ethereum $2,572:

“When I visited Africa, I saw everyone using Binance – it has a stronger legitimacy for many locals than even Ethereum.”

Response to Community Concerns Regarding Token Distribution

Zhang also clarified that the 5.5% of tokens allocated for the Binance launchpool comes from the ecosystem and growth budget, not from the community airdrop pool. Additionally, he stated that Scroll has reserved a significant portion of tokens for community rewards.

To prevent unfair advantages for large investors, Scroll has implemented a purchase limit of 2,500 SCR per user during the pre-market phase. This aims to facilitate a wider distribution among potential holders. Zhang reaffirmed his commitment to long-term community engagement and growth:

“There’s much more to come in the upcoming weeks.”

Scroll management asserts that the partnership with Binance is intended to adapt to current market conditions and strengthen the project’s competitive position. The token distribution strategies are designed to support the growth of a healthy and decentralized ecosystem.

Through its partnership with Binance, Scroll aims to gain a broad investor base and secure significant infrastructure support. The measures taken in response to community concerns are intended to enhance the project’s long-term success.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 12 October, 2024 - 10:32 pm 12 October, 2024 - 10:32 pm
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