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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 partnership with Binance from community members.

  • Zhang emphasizes the strategic benefits of the partnership for project expansion.

  • Community measures aim to ensure equitable token distribution and engagement.

Fatih Uçar
Fatih Uçar 7 months ago
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Scroll recently faced increasing backlash from community members due to its announced partnership with Binance. Critics argue that the focus on supporting major exchanges overlooks the rewards for community members. 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 PartnershipResponse to Community Concerns Over Token Distribution

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

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

Zhang highlighted the importance of Binance’s critical entry and exit services for stablecoins, particularly for expanding into developing markets. He noted that in these areas, Binance is perceived as more reliable and widely used than Ethereum $2,678:

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

Response to Community Concerns Over 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 pointed out that Scroll has reserved a significant portion of tokens for community rewards.

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

“Much more is coming in the coming weeks.”

Scroll management states that the partnership with Binance is designed to align with current market conditions and strengthen the project’s competitive position. They assert that their token distribution strategies will support the growth of a healthy and decentralized ecosystem.

The partnership with Binance aims to provide Scroll with a broad investor base and significant infrastructure support. 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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Fatih Uçar 12 October, 2024 - 10:32 pm 12 October, 2024 - 10:32 pm
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