30s Summary

Ethereum-based project Scroll’s listing on the Binance crypto exchange sparked a debate over centralisation. Scroll’s decision to go through Binance was criticised for being a compromise of the project’s decentralisation principles. However, co-founder Ye Zhang defended the move as reinforcing the project’s growth strategy. Some users expressed concern over the role Binance played in the process stating that if Scroll were popular, it would have been listed naturally. Zhang also reassured users that token distribution for launch won’t be impacted due to their association with Binance.

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Scroll, a project that operates on Ethereum’s layer-2, just found its way onto the well-known crypto exchange Binance. This stirred up quite a bit of conversation among crypto peeps about centralization.

Scroll’s Binance listing was announced on October 11. People were pretty excited about this and thought it might really help the project grow. But some eyebrows were raised too, with folks worried that Scroll might be setting aside some of its values around decentralization.

Zeng Jiajun, a fellow crypto user, described Scroll’s move to list on Binance as ‘kneeling’ to a centralized exchange – a decision that probably wasn’t easy to make. He also sparked some debates about what this could mean for the project in the future.

The online publication Cointelegraph tried reaching out to Scroll for a chat about the whole thing, but they haven’t heard back just yet.

Scroll’s co-founder Ye Zhang clarified that partnering with Binance was all part of their plan for growing the project – especially in up-and-coming markets. According to Zhang, the association with Binance is not just about ‘kneeling to a centralized exchange for listing,’ but part of a strategy for growth and wide-ranging support. Still, he admitted that it was a tough decision.

Zhang also mentioned that Binance would make it simpler for users to transfer funds in and out of the Scroll network thanks to services offered by Binance.

Not all of crypto land agreed with Zhang, though. Some folks were worried about how partnering with Binance might affect Scroll’s commitment to decentralization.

Jiajun, a big supporter of Ethereum (ETH), showed his disappointment. Other users felt that Binance shouldn’t have been the first exchange to list Scroll. They argued that if Scroll was busy enough and had plenty of users, Binance would have naturally listed them, no partnership required.

Responding to the critiques, Zhang defended their decision. In his view, if they aimed to expand globally, compete with projects like Tron in the market, and attract different kinds of users to the Ethereum ecosystem, strong support from a centralized exchange like Binance was pretty key.

Zhang also addressed some worries about token distribution. He reassured everyone that the distribution for the launch pool comes from the ecosystem and growth categories, and the community airdrop won’t be impacted.

Source: Cointelegraph