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

Scroll Addresses Community Concerns Following Binance Partnership

In Brief

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

  • Ye Zhang defends the strategic importance of Binance for project growth.

  • Token distribution measures aim to ensure fair access and community support.

İlayda Peker
İlayda Peker 7 months ago
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Scroll recently faced increasing backlash from community members due to its newly announced partnership with Binance. The criticisms stem from perceptions that major exchanges are being prioritized while community members are not adequately rewarded. In response, Scroll’s management has taken steps to clarify and defend their position.

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

Scroll Founder Ye Zhang Defends Strategic Value of Binance Collaboration

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 a strategic move aimed at growing the project and securing broader market support.

Zhang emphasized the critical role of Binance in providing vital entry and exit services for stablecoins, which is essential for expansion in emerging markets. He mentioned that in these regions, Binance is perceived as more reliable and widely used than Ethereum $2,622:

“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 on Token Distribution

Zhang additionally 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. He noted that Scroll has reserved a significant portion of tokens for community rewards.

To avoid unfair advantages for large investors, Scroll imposed a purchase limit of 2,500 SCR per user during the pre-market phase. This measure is intended 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 coming weeks.”

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

The partnership between Scroll and Binance aims to attract a broad base of investors while providing significant infrastructure support. The measures taken to address community concerns are intended to bolster 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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