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COINTURK NEWS > Cryptocurrency News > Scroll Responds to Community Concerns Over Binance Partnership
Cryptocurrency News

Scroll Responds to Community Concerns Over Binance Partnership

In Brief

  • Scroll faces criticism from the community regarding its partnership with Binance.

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

  • Token distribution strategies are aimed at promoting decentralization and community engagement.

Fatih Uçar
Fatih Uçar 9 months ago
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Recently, Scroll faced mounting reactions from community members due to its partnership with Binance. Critics have focused on the perception that major exchanges are being prioritized while community members feel inadequately rewarded. In response, the Scroll management has taken steps to clarify and defend this situation.

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

Scroll Founder Ye Zhang Defends Strategic Value of Binance Collaboration

In addressing the community’s concerns, Ye Zhang, one of Scroll’s founders, emphasized that the partnership with Binance is not solely for listing purposes. Instead, he stated it is a strategic move aimed at expanding the project and garnering broader market support.

Zhang highlighted that Binance’s critical entry and exit services for stablecoins are important for expansion in emerging markets. He noted that in these regions, the exchange is perceived as more reliable and widely used than Ethereum $2,580:

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

Addressing Community Concerns Regarding 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. Furthermore, 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 will help facilitate a broader distribution among potential holders. Zhang underscored his commitment to long-term community engagement and growth:

“Much more is coming in the upcoming weeks.”

Scroll management states that the partnership with Binance was established to adapt to current market conditions and strengthen the project’s competitive position. It was expressed that token distribution strategies would support the growth of a healthy and decentralized ecosystem.

The collaboration between Scroll and Binance aims to attract a broad investor base and provide essential infrastructure support. The measures taken in response to community concerns are designed 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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