Scroll initially started trading at $1.40, but this price has dropped to $1.10 in recent days. This situation further increased the uneasiness that users felt about token distribution.

Following criticism last week, Scroll officially announced that not all co-founders and team members will receive airdrops. SCR’s market capitalization currently stands at $212 million, while its full dilution value has reached $1.1 billion.

Layer-2 network Scroll launched its long-awaited native governance token on Tuesday, pushing the project’s initial valuation to over $200 million.

Traders priced SCR at around $1.10, or a market cap of $212 million, based on a circulating supply of 190 million. SCR will function as a native governance token and has a roadmap to evolve into a protocol utility token as Scroll becomes more decentralized.

However, in the week leading up to SCR’s launch, user complaints about the unbalanced token allocation and Binance’s decisions to take 5.5% of the supply for Launchpool users brought the platform into disrepute.

Before the launch of SCR, users expressed their complaints on various platforms. Many users specifically stated that the amount of tokens allocated to Launchpool users of Binance’s trading platform was excessively high.

Additionally, early users of Scroll received SCR tokens, with 7% of the total supply reserved for the airdrop. However, while the SCR token was trading at $1.40 at 7:00 UTC, it soon fell to $1.12 at 12:45 UTC, a 20% loss.

Scroll faced further skepticism last week with claims the team was accumulating “brands”. These brands could technically be converted into airdrop tokens.

However, Sandy, Scroll’s main contributor, denied these rumors in a statement on the X platform, saying, “All Scroll co-founders and team members involved in the development of the airdrop and scroll sessions will not request the airdrop.” This statement was considered as an effort to provide more trust among users.

On-chain data shows that the SCR token had more than 200,000 holders and more than 500,000 token transfers were made on its first day. Trading volume remains stable, reaching $189 million across all SCR trading pairs.

Additionally, more than $400,000 of liquidity is available on Binance within 2% of the book on either side of the spot price. However, any loss of users’ trust in the platform could have a negative impact on SCR’s future performance.

Scroll’s SCR token showcases both its potential and the challenges it faces. User complaints and criticism emphasize that the platform needs to develop a more fair token distribution model.

It is critical that developers provide greater transparency and communication to resolve these issues and regain users’ trust.