Scroll has emerged as a leading Layer 2 scaling solution for Ethereum, leveraging advanced zkEVM technology to deliver faster and cheaper transactions while maintaining full compatibility with Ethereum's existing developer tools and security. Since its mainnet launch in October 2023, the platform has attracted significant attention and capital, with over 79,000 ETH bridged to its network.
A major driver of this growth was the "Scroll Sessions" campaign—a multi-phase rewards program designed to boost user engagement and total value locked (TVL). This initiative successfully increased Scroll’s TVL from under $100 million to over $700 million. However, despite this impressive growth, the project's fully diluted valuation (FDV) saw a notable decline, and community feedback on the airdrop rewards has been mixed.
This analysis explores the structure, outcomes, and participant experiences of the Scroll airdrop campaign.
Understanding Scroll: A Beginner’s Guide
At its core, Scroll is a scalability solution built to enhance Ethereum’s performance. Here’s what makes it stand out:
- It uses zero-knowledge proof technology (zkEVM) to process transactions in batches, greatly improving efficiency.
- It remains fully compatible with Ethereum’s development environment, allowing developers to migrate applications without modification.
- It inherits Ethereum’s robust security model while drastically reducing gas fees and confirmation times.
- It regularly synchronizes its proof data with the Ethereum mainnet to ensure transparency and verifiability.
In short, Scroll offers a faster, more affordable user experience without compromising on security or compatibility.
Breaking Down the Scroll Sessions Campaign
The Scroll Sessions campaign was rolled out in two main phases: Session Zero and Session One. Its primary goal was to incentivize user participation and deepen ecosystem engagement by rewarding certain on-chain actions with "Scroll Marks," which later determined a user’s share of the 55 million SCR token airdrop allocation.
Campaign Overview
- Total Allocation: 55,000,000 SCR (5.5% of total supply)
- Session Zero Duration: 11 weeks (April 17 – June 22, 2024)
- Session One Duration: 18 weeks (June 22 – October 22, 2024)
- TVL Growth in Session Zero: 281% (from $57.35M to $217.35M)
- TVL Growth in Session One: 253% (from $217.35M to $765.26M)
Objectives and Incentivized Actions
The campaign aimed to achieve two main objectives: increase the platform’s TVL and reward community members for their active participation.
Session Zero Required Actions:
- Bridging ETH or wstETH to Scroll via the official bridge or supported third-party bridges.
- Holding these bridged assets on the Scroll network for the duration of the campaign.
Session One Expanded Actions:
- All previous actions remained eligible.
- Providing liquidity on approved decentralized exchanges like Ambient and Nuri.
- Participating in lending or borrowing on integrated platforms such as Aave, Rho Markets, Layerbank, and others.
How Scroll Marks Were Calculated
The formula for earning Marks was:
Marks = Value × Action × Time
- Value: The dollar value of the assets bridged or supplied as liquidity.
- Action: The type of engagement (e.g., holding, lending, or providing liquidity).
- Time: The duration for which the assets remained in the network.
Additionally, a "Canvas" achievement system allowed users to earn badge-based Mark boosters by completing tasks and engaging with ecosystem projects.
Analyzing the Airdrop’s Financial Returns
To evaluate whether participating was financially worthwhile, we can estimate the annual percentage yield (APY) based on sample participant data.
Participation Cost Breakdown
Engaging in the campaign involved certain costs:
- Transaction fees for bridging assets to Scroll.
- Opportunity cost of locking capital in liquidity pools or lending protocols.
Estimated Returns and APY Calculation
An analysis of several participant wallets revealed an average reward rate of approximately 0.006 SCR per dollar deposited per month.
Sample Calculation:
- Initial Investment: 1 ETH (valued at $2,500)
- Holding Period: 12 months
- Total SCR Earned: $2,500 × 12 × 0.006 = 180 SCR
- SCR Price at Launch: ~$1.16
- Total Reward Value: 180 × $1.16 = $208.80
- ROI: ($208.80 / $2,500) × 100 = 8.35%
- APY: Approximately 8.35%
This return was considered modest by many participants, especially given the effort and risk involved.
Community Feedback and Sentiment
The community’s response to the Scroll airdrop was a rollercoaster of expectations and realities.
Initial Phase:
Many users expressed confusion and frustration with the complexity of the Marks system and the perceived low allocation rates. Complaints were widespread on social media platforms.
Mid-Campaign:
Sentiment improved slightly when Scroll expanded the list of eligible assets and introduced more ways to earn Marks, though criticisms about transparency persisted.
Post-Airdrop:
After the token distribution, a significant number of users reported disappointment. Many felt that the time, fees, and capital committed were not adequately rewarded, leading to public expressions of dissatisfaction.
This gap between expectations and outcomes may have contributed to the downward pressure on Scroll’s token price post-launch.
Conclusion: Lessons from the Scroll Airdrop
The Scroll Sessions campaign was successful in achieving its primary goal of boosting TVL and attracting new users. Technologically, Scroll has proven itself as a competent and innovative Layer 2 solution.
However, the campaign also highlighted several areas for improvement:
- The reward mechanics were often perceived as opaque and insufficiently rewarding.
- Communication around eligibility and allocation calculations could have been clearer.
- The final APY of ~8% disappointed many participants who expected higher returns for their participation.
For future airdrop campaigns, greater transparency, simplified reward structures, and better alignment between effort and reward are essential. Scroll has already indicated that it is working on a revamped system for Scroll Sessions 2, which may address these concerns.
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Frequently Asked Questions
What was the main goal of the Scroll airdrop?
The primary goals were to increase the total value locked (TVL) on the Scroll network and to reward early users and community members for their participation and engagement with the ecosystem.
How did users earn Scroll Marks?
Users earned Marks by bridging assets like ETH to Scroll, holding them, providing liquidity, or participating in lending/borrowing on integrated platforms. Marks were calculated based on the value of assets, the action taken, and the time committed.
Was the Scroll airdrop profitable for participants?
Based on analyzed data, the average annual percentage yield (APY) was approximately 8.35%. Many in the community considered this return to be low given the effort and cost involved, leading to mixed reactions.
What is zkEVM technology?
zkEVM (Zero-Knowledge Ethereum Virtual Machine) is a scaling technology that uses zero-knowledge proofs to batch process transactions off-chain before submitting a cryptographic proof to the Ethereum mainnet. This reduces costs and increases speed while maintaining security.
Will there be a future Scroll airdrop?
The Scroll team has hinted at a "Scroll Sessions 2" campaign with a revamped and simplified rewards system. Details are expected to be announced officially in the future.
What caused the disappointment in the Scroll airdrop?
The main reasons were the complexity of the Marks system, a lack of clarity in how rewards were calculated, and final returns that many participants felt did not justify their time, transaction fees, and locked capital.