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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 criticism over its partnership with Binance from community members.

  • Founder Ye Zhang defends the strategic significance of the collaboration.

  • Measures are implemented to address token distribution concerns and ensure fairness.

Fatih Uçar
Fatih Uçar 7 months ago
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Scroll recently faced increased backlash from community members due to its newly announced partnership with Binance. Criticisms focus on the perception that major exchanges are prioritized, while community members feel inadequately rewarded. In response, Scroll management has taken steps to clarify and defend its position.

Contents
Scroll Founder Ye Zhang Defends the Strategic Value of the Binance CollaborationResponse to Community Concerns Regarding 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 serves a strategic purpose beyond mere listing. He stated that the goal is to expand the project and secure broader market support.

Zhang highlighted the importance of Binance’s critical entry and exit services for stablecoins, especially for expansion in emerging markets. He noted that in regions like Africa, Binance is perceived as more reliable and widely used than Ethereum $2,655:

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

Response to Community Concerns Regarding Token Distribution

Zhang clarified that the 5.5% token allocation reserved for Binance launchpool comes from the ecosystem and growth budget, not from the community airdrop pool. He also indicated that Scroll has set aside 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 foster a broader distribution among potential holders. Zhang emphasized his 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 established in response to current market conditions and aims to 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 to address community concerns are intended to support 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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