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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 responds to community criticism over its Binance partnership.

  • Ye Zhang emphasizes the partnership's strategic value for growth.

  • Community token distribution concerns are addressed with transparency.

Fatih Uçar
Fatih Uçar 7 months ago
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Scroll faces increased criticism from community members due to its recent partnership with Binance. Concerns are focused on the perception that the emphasis is on supporting large exchanges, while community members feel inadequately rewarded. In response, the Scroll management has taken steps to clarify and defend its position.

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

Ye Zhang Defends the Strategic Value of the Binance Partnership

In response to community concerns, Ye Zhang, one of Scroll’s founders, stated that the partnership with Binance is not solely for listing purposes but is also a strategic step aimed at growing the project and securing broader market support.

Zhang emphasized the importance of Binance’s critical entry and exit services for stablecoins, which are significant for expansion in emerging markets. He noted that in these regions, Binance is more reliable and widely used than Ethereum $2,198:

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

Response to Community Concerns About Token Distribution

Zhang also clarified that the 5.5% of tokens allocated for the Binance launchpool comes from the ecosystem and growth budget, and not from the community airdrop pool. Additionally, he mentioned 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 emphasized the commitment to long-term community engagement and growth:

“Much more is coming in the upcoming weeks.”

Scroll management asserts that the partnership with Binance was made 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.

The partnership with Binance aims to provide the project with a broad investor base and significant infrastructure support. Measures taken in response to community concerns are intended to support the project’s long-term success.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
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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