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The launch of Scroll's SCR token has been marred by controversy, as it dropped 32% on its first day of trading. Critics have labeled the airdrop associated with the token as 'predatory,' citing concerns over the distribution of massive allocations to large investors, or 'whales.' Movement CEO Rushi has publicly accused Scroll's management of exploiting the community through a harmful incentive program that ultimately shifts the burden onto regular investors. Additionally, allegations have emerged regarding the team pre-selling tokens and airdropping to their own wallets. In response to the backlash, Scroll co-founder Sandy Peng defended the airdrop, asserting that it was primarily intended to benefit the community. Despite the controversy, Scroll has managed to secure $80 million in funding, and the market capitalization of SCR is currently at $112 million with a fully diluted valuation of $814 million.
🤺 @HyperliquidX vs @Scroll_ZKP 📜 $SCR 🪙Airdrop-5% 🪙Binance-5.5% 💵Funding - $80M 💱List 1st, Airdrop later 💰Mcap - $112M 💰FDV - $814M 💎 $HYPE 🪙Airdrop-31% 🪙Binance-0% 💵Funding - Zero 🪂Airdrop First 💰Mcap-$1.4B 💰FDV-$4.3B 🤔Who won? 👑 $HYPE 🤔Agreed? 💙Like 🔁RT https://t.co/PxeCyG3lgZ
SCROLL'S AIRDROP DRAMA: SCR TOKEN DIPS 32% Scroll's SCR token went live and tanked 32% on day one—wild. People were straight-up calling it a "predatory" move after the team dropped massive allocations to whales, and rumors of dumping followed. Co-founder Sandy Peng fired back,… https://t.co/W16A4vsYDO
SCROLL RESPONDS TO AIRDROP CONTROVERSY AND TOKEN PRICE DROP Scroll’s native SCR token dropped 32% on its first day after its controversial airdrop, prompting accusations of “predatory” practices. Scroll co-founder Sandy Peng denied these claims, saying the airdrop was mainly… https://t.co/tNlSa2kF7I