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

Scroll Addresses Community Concerns Over Binance Partnership

In Brief

  • Scroll faces backlash from the community regarding its Binance partnership.

  • Ye Zhang defends the strategic value of the collaboration.

  • Token distribution strategies aim to ensure community engagement and fairness.

Fatih Uçar
Fatih Uçar 7 months ago
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Recently, Scroll faced increasing backlash from community members regarding its partnership with Binance. The criticisms stem from a perception that significant exchanges are prioritized while community members are not adequately rewarded. In response, Scroll management has taken steps to clarify and defend their position.

Contents
Scroll Founder Ye Zhang Defends the Strategic Value of the Binance CollaborationResponse to Community Concerns Over Token Distribution

Scroll Founder Ye Zhang Defends the Strategic Value of the Binance Collaboration

In addressing community concerns, Ye Zhang, one of Scroll’s founders, emphasized that the partnership with Binance is not merely for listing purposes. He described it as a strategic move aimed at growing the project and ensuring broader market support.

Zhang highlighted the critical entry and exit services offered by Binance for stablecoins, which are vital for expansion in developing markets. He noted that in regions like Africa, Binance has gained more trust and usage than Ethereum $2,563:

“When I visited Africa, I saw that everyone was using Binance—it had even more credibility for many locals than Ethereum.”

Response to Community Concerns Over Token Distribution

Zhang also clarified that the 5.5% of tokens allocated for the Binance launchpool is sourced 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 implemented a purchase limit of 2,500 SCR per user during the pre-market phase. This measure aims to facilitate a broader distribution among potential holders. Zhang emphasized his commitment to long-term community engagement and growth:

“Much more is coming in the weeks ahead.”

Scroll management asserts that the partnership with Binance was established to adapt to current market conditions and strengthen the project’s competitive position. They believe that their token distribution strategies will foster the growth of a healthy and decentralized ecosystem.

The collaboration with Binance aims to attract a wide base of investors and provide essential infrastructure support for the project. Measures taken in response to community concerns seek to ensure the long-term success of the initiative.

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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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Fatih Uçar 12 October, 2024 - 10:32 pm 12 October, 2024 - 10:32 pm
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