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Reading: Scroll Defends Its Partnership with Binance and Addresses Community Concerns
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COINTURK NEWS > Cryptocurrency News > Scroll Defends Its Partnership with Binance and Addresses Community Concerns
Cryptocurrency News

Scroll Defends Its Partnership with Binance and Addresses Community Concerns

In Brief

  • Scroll addresses community backlash over its partnership with Binance.

  • Ye Zhang emphasizes the strategic benefits of the collaboration.

  • Token distribution measures aim for fair community engagement.

İlayda Peker
İlayda Peker 7 months ago
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Scroll faced increasing backlash from community members due to its recent partnership with Binance. Critics expressed concerns that the partnership favors major exchanges while community members feel inadequately rewarded. In response, Scroll’s management took steps to clarify and defend their position.

Contents
Ye Zhang Defends the Strategic Value of the Binance CollaborationAddressing Community Concerns Regarding Token Distribution

Ye Zhang Defends the Strategic Value of the Binance Collaboration

In response to community concerns, Ye Zhang, one of the founders of Scroll, emphasized that the partnership with Binance serves more than just a listing purpose. He clarified that it represents a strategic move to grow the project and provide broader market support.

Zhang highlighted the critical inbound and outbound services for stablecoins offered by Binance, noting their importance for expansion in emerging markets. He stated that in these regions, Binance holds more credibility and is used more widely than Ethereum $2,551:

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

Addressing Community Concerns Regarding Token Distribution

Zhang also clarified that the 5.5% allocation of tokens reserved for Binance launchpool comes from the ecosystem and growth budget, 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 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’s management stated that the partnership with Binance was designed to adapt to current market conditions and strengthen the project’s competitive position. They articulated that the token distribution strategies would support the growth of a healthy and decentralized ecosystem.

The collaboration with Binance aims to provide the project with a broad investor base and essential infrastructure support. The measures taken in response to 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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