- There were voices wondering whether the initiative was watering down its decentralized stance.
- Scroll co-founder said that the move was an effort to broaden the project’s reach.
The recent listing of the Ethereum layer-2 project Scroll on the centralized crypto exchange Binance has sparked a discussion over centralization within the crypto community.
Although some saw the listing—announced on October 11—as aligning with centralized corporations, others saw it as having the ability to increase growth. There were voices wondering whether the initiative was watering down its decentralized stance.
According to X user Zeng Jiajun, Scroll is “kneeling” before a centralized exchange (CEX) by deciding to list on Binance. Jiajun characterized the move as difficult but raised doubts about its long-term consequences.
Strategic Decision
Scroll co-founder Ye Zhang said that the move to team up with Binance was an effort to broaden the project’s reach, especially in developing economies.
Zhang stated:
“I don’t think partnering with Binance is “kneeling to a CEX for listing” – it’s way more than that, it’s a strategic decision to build a partnership for growth and broader support. However, it is indeed a tough decision.”
According to Zhang, Binance’s on-ramp and off-ramp services would streamline the process by which users may deposit and withdraw funds from the Scroll network. Despite Zhang’s best efforts, not all members of the crypto community shared his view. The possible impact of Scroll’s relationship with Binance on its decentralization initiatives was a source of worry for some.
Others on X stated that Binance should not have been the first exchange to list Scroll. By their logic, Binance would have listed the chain independently if it had sufficient user activity and interest, they said.
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