Mode DeFi layer 2 unveils MODE token, the token will be launched on May 7. Mode airdrop 2 starts on May 5

On May 3, 2024, Mode DeFi layer 2 unveils MODE token, the token will be launched on May 7. Mode airdrop 2 starts on May 5

Mode is a modular DeFi layer 2 that offers 10x lower fees than Ethereum. Mode built using OP Stack and it partners with Optimism Foundation.

Mode focuses on creating scalability and efficiency for DeFi applications.

It utilizes Optimism's OP Stack, which facilitates rapid development and deployment of EVM-compatible applications, aiming to create a cooperative and rewarding environment for both developers and users.

Mode rewards developers from sequence of fee sharing.  Developers earn a percentage of transaction fees from their users.

As of May 3, 2024, Mode has $475 million TVL.

Under partnership between Mode and Optimism Foundation, Mode pays a portion of its sequencer revenue to Optimism Collective. A resquencer is responsibile for order transactions before those transactions being sent to the main chain.

Mode unveils MODE token on May 3, 2024, the token will be launching on May 7.

MODE token has a max supply of 10 billion tokens. MODE’s utility is it is a governance token of the Mode platform.

The upcoming introduction of the MODE DeFi Airdrop 1 on May 7 is a significant event for those involved in the decentralized finance sector.

Mode Airdrop 1 allocates 5.5% of MODE supply.

This airdrop represents a strategic distribution of MODE tokens, which are part of a larger ecosystem designed to incentivize participation and growth within the Mode network.

Participants in the Airdrop 1 can earn points by engaging with various applications within the Mode ecosystem, such as decentralized exchanges and liquidity protocols.

These points will then be converted into MODE tokens, with a substantial allocation of 550 million tokens, representing 5.5% of the total supply.

The Mode network emphasizes a community-driven approach, where users can contribute to the network's growth through actions like bridging to Mode, referring friends, and using ecosystem apps.

User points from Airdrop 1 will be converted to MODE tokens and claimable on May at 11.00 am UTC at claim.mode.network.

Airdrop 2

Mode will be launching Airdrop 2 starting from May 5, 2024 until September 6, 2024.

Mode allocates 500,000,000 MODE for Airdrop 2.

The Mode network's initiative to distribute tokens through airdrops is  testament to its innovative approach to expanding its user base and enhancing the overall value of its ecosystem.

For more detailed information about the Mode airdrop and how to participate, visit mode.mirror.xyz.