Scroll Airdrop Farmers Gripe Over Ethereum Layer-2 Token Launch

The mission’s first airdrop dished out 5.5% of the entire SCR provide—55 million out of 1 billion tokens—to early customers who had already contributed to the ecosystem, in accordance to a weblog put up from the crew.

Of that determine, 40 million SCR was given to on-chain contributors who earned 200 or extra Scroll Marks—or factors from utilizing the layer-2 scaling community. One other 1% was break up evenly between eligible wallets, and one other 0.5% was meant as a “bonus” for many who met choose standards, Scroll stated in its announcement.

Some customers aren’t completely happy, although, and Crypto Twitter (aka X) is awash with memes and complaints over the purportedly meager quantities they obtained.

“One of many worst airdrops ever,” wrote pseudonymous tweeter and Ethereum consumer, DYOR.eth, who claimed that they dumped the tokens and ditched Scroll altogether. Twitter consumer Joshyy, who has amassed a large following with posts about upcoming airdrops, known as it the “worst airdrop thus far.” Different tweets mocked claims concerning the anticipated scale and worth of the Scroll airdrop.

New tasks use airdrops to draw customers by giving out free tokens or cash with the hope of rising their neighborhood and rewarding early customers and contributors.

However the follow of “airdrop farming” has change into extra widespread, as some customers attempt to maximize their rewards by utilizing quite a few totally different pockets addresses, and/or by repeating sure duties and actions that they assume will increase their token allotments.

A few of these customers and farmers have been complaining about receiving small quantities of crypto in airdrops—regardless of being concerned locally of a mission. Gamers of Telegram-based tap-to-earn recreation Hamster Kombat had these exact same gripes when the sport launched its long-awaited airdrop in September, with some describing the modest rewards as being akin to “mud.”

The SCR token has since plunged in worth following the airdrop: CoinGecko information exhibits that SCR has dropped by 16% for the reason that airdrop, with the worth right down to $1.17. That is widespread for newly launched tokens, which will be extremely unstable—particularly as airdrop recipients money out and merchants doubtlessly purchase in amid the chaos.

Scroll didn’t instantly reply to Decrypt’s questions relating to the airdrop.

Scroll is one among many Ethereum layer-2 networks. Such networks are used to enhance a series’s performance by basically piggybacking off of the primary community’s safety whereas usually offering advantages like cheaper and sooner transactions.

Ethereum is the blockchain behind the second greatest cryptocurrency, ETH, however the community can generally be arduous to make use of as a result of sluggish and costly transactions throughout peak instances. Layer-2 networks have exploded in recognition of late—a lot in order that some business observers imagine they’re sucking worth away from ETH itself, regardless of the opposite advantages.

Edited by Andrew Hayward