Scroll (SCR)

Wu said he learned that L2BEAT posted that Scroll has completed its governance transition, replacing the original independent 9/12 security committee with a 3/4 multi‑sig operated by the Scroll team. Consequently, L2BEAT downgraded Scroll from Stage 1 to Stage 0. Scroll previously stated that the cost of the security committee, relative to actual usage, has become hard to justify, and therefore plans to transfer protocol admin control to a Scroll Admin multi‑sig. L2BEAT pointed out that the main role of the security committee is to guard against malicious upgrades; without an independent committee, a single operator’s key set could potentially affect user funds, and the new multi‑sig can upgrade core contracts, including the cross‑chain bridge, without delay, introducing centralized upgrade control risk.
https://t.co/UpAlkoIEGr

Looking at the $SCR data, I understand very well why I've become cold to L2 projects.

The massive project that once raised over $70M now has a circulating market cap of just $19 million.
Even if all tokens were unlocked, it would only be $45 million – a market cap still below the amount raised!

Raise millions from VCs, enter Binance Launchpool with a billion-dollar valuation, and this is the result at the end of the day.

Poor market conditions or lack of liquidity harshly punish L2 inflation.

The inflated valuations by VCs melt away after exchange listing.

As investors, we must become smarter and position ourselves in projects with sustainable tokenomics models.

We really need to get smart and make the right moves now.