Compared to zkSync and StarkNet, is the expected market value of Scroll's $SCR token up to $4?

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远山洞见2024/10/22 08:54

By:远山洞见

I. Project introduction

Scroll is an Ethereum-native zkEVM layer 2 scaling solution designed to effectively extend the performance of the Ethereum network through zk-Rollup technology. Scroll focuses on improving the scalability of Ethereum, reducing transaction costs, while maintaining the core security and decentralization characteristics of Ethereum. Its innovation lies in using zero-knowledge proofs (ZK Proofs) to ensure the privacy and correctness of transactions, thereby significantly improving network throughput and reducing transaction fees.

As a leader in zk-Rollup technology, Scroll aims to achieve a fully compatible zkEVM (Zero-Knowledge Ethereum Virtual Machine) with Ethereum, allowing developers to deploy existing Ethereum applications directly to the Scroll network without any modifications to smart contracts. This bytecode-level compatibility allows developers to continue using familiar power builders and languages, maximizing development efficiency and convenience.

Scroll's design concept not only focuses on performance improvement, but also adheres to the principles of decentralization and security. By processing transactions off-chain and publishing correctness proofs on-chain, Scroll not only reduces the burden on the Ethereum mainnet, but also ensures the correctness and security of transactions. It also significantly improves transaction verification speed through a unique three-layer aggregation circuit design, ensuring smooth User Experience and maintaining a high level of security.

Compared to zkSync and StarkNet, is the expected market value of Scroll's $SCR token up to $4? image 0

II. Project highlights

Popular track positioning, Ethereum native zkEVM extension solution . As an Ethereum native zkEVM Layer 2 solution, Scroll greatly improves the scalability and transaction processing efficiency of the network through zk-Rollup technology while ensuring the security and decentralization of the Ethereum mainnet. It is highly compatible with Ethereum applications and tools, further reducing the threshold for development and user use.

Backed by large financing, institutions are optimistic. Scroll has completed multiple rounds of financing, with a total amount of $80 million, and the latest round of financing is valued at $1.80 billion. It has received support from well-known institutions such as Polychain, OKX, and Spartan. The project has rich resources and strong financial support, providing a solid foundation for the long-term development of the project.

The team is strong. The core team of Scroll is composed of senior members from top universities and well-known enterprises around the world, with deep technical background and rich blockchain experience. The team members have professional knowledge in zk proof, hardware acceleration, Machine Learning and other fields, ensuring the technical innovation and efficient execution of the project.

The Layer2 track has broad prospects . As one of the representatives of the zkEVM Layer2 solution, the Scroll project conforms to the current demand for blockchain expansion. ZK technology has attracted much attention from the industry. Scroll's innovative technology route makes it occupy an important position in the Layer2 track and is expected to stand out in the future.

III. Market value expectations

Scroll ($SCR), as the native zkEVM Layer 2 scaling solution for Ethereum, has established an important position in the zkEVM track with its innovative zk-Rollup technology and strong technical team. Based on the current initial circulation of $SCR tokens 190 million coins and a unit price of $1.25 dollars, the initial circulation market value of Scroll is $236,634,543.

To estimate the unit price of $SCR tokens when they are consistent with the circulating market value of similar ZK-Rollup projects, the token can be calculated as follows:

Benchmark project type and market value expectations:

zkSync ($ZK) - Ethereum's Scaling and Privacy Engine

Token price: 0.1279 dollars

Market capitalization: $470,201,458.228

If the circulating market value of $SCR is the same as $ZK, the token unit price is about 2.47 dollars

zkSync is a ZK-Rollup extension and privacy solution on Ethereum, focusing on improving network scalability and privacy.

StarkNet ($STRK) - Decentralized ZK-Rollup Scaling Solution

Token price: 0.394 dollars

Market capitalization: $764,619,565.743

If the circulating market value of $SCR is the same as $STRK, the token unit price is about 4.02 dollars

StarkNet is a decentralized ZK-Rollup network for Ethereum, which improves scalability and privacy through ZK technology.

Taiko ($TAIKO) - Universal ZK-Rollup Layer 2 Network

Token price: 1.45 dollars

Market capitalization: $109,969,022.512

If the circulating market value of $SCR is the same as $TAIKO, the token unit price is about 0.58 dollars

Taiko is an Ethereum-compatible universal ZK-Rollup Layer 2 network designed to provide scalable and efficient blockchain infrastructure.

Based on the market capitalization of similar items, the possible price range of the $SCR token in the future market is between 0.58 and 4.02 dollars.

IV. Token Economics

The total number of tokens published is 1 billion, and the initial circulation is 135 million, accounting for 13.5%. The initial circulation market value of the tokens is $243 million, and the total market value reaches $1.80 billion based on the TGE price of 1.8 dollars.

SAFT (Seed) (5.65%) : There is no initial release (TGE 0%) of tokens allocated to seed investors, and it is linearly released over 36 months after the 12-month lock-up period ends.

SAFT (A) (8.76%) : The tokens of Series A investors also have no initial release (TGE 0%), with a lock-up period of 12 months, followed by a linear release within 36 months.

SAFT (B) (2.64%) : The token plan for Series B investors is the same as the previous two rounds, with a lock-up period of 12 months, followed by a linear release of 36 months.

Ecosystem and Growth (25.00%) : The ecological development and growth part of the token is released 10% in TGE, and the remaining part is released linearly on an annual basis over the next four years.

Foundation Reserve (10.00%) : 20% will be released at TGE, and the remaining amount will be released linearly over four years.

DAO Reserve (10.00%) : The distribution of DAO Reserve is released 20% at TGE and will be released linearly over four years.

Team (22.95%) : The tokens held by the team have no initial release (TGE 0%), are locked for 12 months, and then linearly released in 36 months.

Airdrop (15.00%) : The airdrop portion will release 46.66% at TGE, and the remaining portion will be released after the end of the 2-month lock-up period.

V. Team and financing

The Scroll team currently has a total of 91 members on LinkedIn, including 30 developers and 15 responsible for Business Development (BD) work. The core members of the team include:

Sandy Peng : Co-founder of Scroll, graduated from the University of Cambridge and has worked in the Securities Supervision Commission in Hong Kong. He has been involved in Web3 project investment since 2017 and has experience in game and product projects. Sandy is responsible for non-technical work in the Scroll team.

Ye Zhang : Co-founder of Scroll, graduated from Peking University, started working on zero-knowledge proof (ZK Proof) in 2018, focusing on the hardware acceleration of ZK proof and the research of ZK cryptography algorithms, and pursued a doctoral degree in this field, responsible for the innovation of Scroll technology.

Haichen Shen : Co-founder and Engineering Director of Scroll, graduated from Tsinghua University with a PhD from the University of Washington. After graduation, he was responsible for the construction of Machine Learning systems at Amazon and participated in multiple open source projects. Currently, he leads the engineering development of Scroll.

Financing situation

Since its inception, the Scroll project has accumulated more than 80 million USD in financing, and the latest round of valuation has reached 1.80 billion USD. Its financing process is as follows:

March 6, 2023, unknown round : Scroll received $40 million financing, valued at $1.80 billion, led by well-known institutions such as Polychain, Sequoia China, and Bain Capital Crypto.

On April 21, 2022, A round financing : Scroll received $30 million financing, valued at $350 million, led by Polychain, with follow-up investment from institutions such as Bain Capital Crypto and Robot Ventures.

October 2021, seed round financing : Scroll seed round financing amount is unknown, valued at $40 million, invested by Mask Network, Inception Capital and A T Capital.

VI. Risk Warning

1. Although Scroll uses zkEVM and zk-Rollup technologies to theoretically improve the scalability and privacy of Ethereum, these technologies are still in the development and improvement stage. The implementation of zkEVM faces complex technical challenges, such as verification efficiency and security optimization, which may affect the actual landing effect of the project.

2. The Layer 2 track where Scroll is located is highly competitive, and projects such as zkSync and StarkNet that also use zk-Rollup technology are also advancing rapidly. Scroll is facing competitive pressure in terms of technological innovation and market share, and a little carelessness may lead to being surpassed by other projects.

3. In the token economics design of Scroll, a large number of tokens are allocated to teams, investors, and airdrop participants. If these tokens are sold off after unlocking, it may cause significant downward pressure on the market price of $SCR, affecting investor confidence.

VII. Official link

Website ： https://scroll.io/

Twitter： https://x.com/Scroll_ZKP

Discord： https://discord.com/invite/scroll

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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