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Scroll - New Kid on The Block
Osgur Murphy O Kane
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Scroll

Scroll is a zkEVM rollup. It initially aims to become a type-2 zkEVM, where it is fully EVM-equivalent but not completely Ethereum equivalent due to some minor changes to make it more ZK-friendly. This is the same category as Polygon zkEVM, where the rollup is compatible with Ethereum at the bytecode level, meaning most infrastructure and dApps can deploy there with no / minimal changes. It is one of the most hotly anticipated L2 launches, with $83m raised and its last valuation at $1.8bn.

Note that Scroll did not officially launch until 17th October, but the bridge was deployed on earlier in the week. Scroll’s approach to building has been measured, with three different testnets before launching. It has taken the approach of not being first mover, but rather focusing on delivering a production ready and secure first instance.

Interacting with any new chain carries risk. Note that it will have initially have a centralized sequencer, and if it goes offline the protocol will halt. Scroll has just started its mainnet journey and intends to progressively decentralize over time.

Scroll Approach

Scroll seeks to differentiate itself by taking a measured and slower approach than its competitors. It is taking a long-term view, and the team is actively contributing to Ethereum L1 and zkSNARK research. It will be interesting to see how the protocol develops over the long-term relative to its competitors.

Timeline

  • Scroll has been in production for two years.
  • The zkEVM circuits were reviewed by Kalos, Trail of Bits and Zellic.
  • The bridge and rollup contracts have been audited by Zellic and Open Zeppelin

Over this time, Scroll has undergone three testnets, with:

  • 90m+ transactions
  • An average of 305K transactions per day
  • 450k+ smart contract deployments
  • 9M blocks produced
  • 280K ZK proofs generated

Other large bridges like Orbiter and LayerZero will likely rollout support for Scroll in the near future.

Current Plays

KyberSwap

KyberSwap currently has the most TVL on Scroll, and is a well-established protocol that launched in 2020. It currently has 6 high yielding farms on Scroll to attract liquidity.

KyberSwap
Source: KyberSwap

Twitter Website Docs

Skydrome

Skydrome is a Velodrome fork on Scroll i.e. a ve(3,3) DEX. Like all new protocols on new chains, there is high risk in using it. For those with the risk appetite, like all new ve(3,3) protocols there will be very high initial farming rewards.

Skydrome
Source: Skydrome

Skydrome have an incentive campaign where anyone who LPs before Nov 2nd will be eligible for their airdrop. Again, note the high risk of LPing on a new protocol.

Twitter Website Docs

Data

Source: Nansen Query
Source: Nansen Query
Source: Nansen Query
Source: Nansen Query
Source: Nansen Query
Source: Nansen Query
Source: Nansen Query
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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.