Token Relocation Event, Decentralization, and Community Commitment
Hello Scroll Community!
For some time now, we have been discussing both internally and with our community about further transparency and decentralization of SCRL and the Scroll platform. Today, we would like to announce some short-term internal changes with SCRL, and how you (the user) can monitor the external platform and what you can do to help make our products better. We will be discussing these changes in increments over the course of Q2.
Token Relocation and Transparency
Our dedicated community members may have noticed the Audit Explorer appear on our explorer. Here is how it will work:
Large token Accounts
Token accounts with large SCRL amounts will be highlighted so that anyone in the community can audit, if they feel the need to do so. Typical block explorers offer this feature, however we aim to make this process more user friendly. This should allow for everyone to see a clear transparency layer for SCRL, making auditing easier and more decipherable.
Along with large token accounts, this explorer will also track our proprietary internal wallet addresses. These internal wallets will be excluded from the token economy as they always have, and will be clearly available to be viewed by anyone at any time from our explorer.
We will be relocating SCRL in our current token Escrow Address to a more secure location. For security reasons, we will not be giving a definitive time as to when this event will take place. Locked addresses will be set up in tranches and clearly viewable on the explorer in their own defined section or tab. The token amounts in each of these wallets will be adjusted to be easily readable and tracked. That way, it will make it easier for community members to perform diligence.
Until further notice, this is the official way the SCRL Token Escrow will release SCRL Tokens
Barring any unforeseen circumstances, our aim is to only allow the release of SCRL tokens to the Token Ecosystem after the following:
1.) 2 Month ahead-of-time notice
This notice will signal that a release of tokens into circulation is under consideration. This notice is meant to serve as an understanding of where we, as a team, want to go with it and most importantly why there needs to be a token release. This not to be mistaken as a confirmation of a token release. Rather, it would only serve to provide information as to the circumstances and factors involved in our decision making.
2.) 1 Month confirmation of release
This notice will confirm an imminent token release. We will give a 7-day range in which this event could take place. In order to protect the integrity of the ecosystem, the static time will not be made public prior to release.
IMPORTANT: The purpose of the SCRL Token Escrow is to provide large volumes of tokens to clientele that would require them. In the event where we must, the time and date will be agreed upon with the client and the order will be executed within seconds of that time. If there is enough liquidity on both ends of our market, the SCRL Token Escrow will NOT intervene. This is a precaution built for the stability of our technology and all Escrow releases will be met with the correlating purchase volume.
To ensure the decentralized theme that we employ in house, large token numbers will be overseen by an independent third party to ensure that no manipulation or misconduct will occur.
To wrap up
It has been our understanding that our community has recognized our private sale token holders. Upon speaking with each of them further, large holders are committed to maintaining their position in the SCRL Ecosystem for the long term and many years to come. That being said, there should not be any massive change in the SCRL ecosystem in the near future and we will continue to grow as planned!
If you have any questions feel free to talk to us on Telegram, we are excited for Q2 and everything that it will bring!
-The Scroll Team