Sirwin
Sirwin
Edited by me

Mode: the cooperative, scalable and cost-effective layer 2 (Mode Sunshine Airdrop)


Mode is the modular L2 DeFi platform that aims to provide developers and users with the necessary tools to grow a global ecosystem of top-tier applications, directly rewarding them for their contributions. In collaboration with Optimism, the Mode team is dedicated to building a scalable and cost-effective Superchain. Let’s see how this project, boasting significant partnerships and collaborations, will stand out in the competition among emerging Layer 2 solutions.

Mode, the Ethereum roll-up that recently launched its mainnet, offers on-chain economic tools for developers to implement scalable applications and provide higher yields to users. Through Sequencer fees and developer airdrops, Mode enables the creation of scalable applications that generate predictable income.

Before introducing the user airdrop campaign, let’s explore some features of the project.

Onchain Cooperative

Mode’s goal is to empower developers and users to grow the dApp of the ecosystem and reward them directly for their contributions. Mode supports developers through the following mechanisms:

  • Sequencer Fee Sharing: Mode implements protocol-level revenue-sharing incentives. Applications and users scaling the Mode blockchain are motivated to work together and directly receive a portion of the network Sequencer’s profits.
  • Developer Airdrops: Mode promotes a series of airdrops that reward developers for their contributions to the Mode ecosystem with the $MODE token.
  • Optimism RPG Funding: Developers building open-source apps and tools on Mode can apply for Optimism’s $2 billion RPG funding program.

Mode has implemented the Optimism Bedrock upgrade, significantly reducing fees by over 95% compared to Ethereum. With this implementation, Mode is fast and cost-effective for both developers and end-users. The project is powered by OP Stack and closely collaborates with Optimism in contributing to the affirmation of Optimism’s Superchain ecosystem as a leading DeFi hub.

Sequencer Fee Sharing

Roll-ups like Mode generate revenue from the network’s Sequencer. With Mode’s Sequencer Fee Sharing module(SFS), developers can register smart contracts in the Fee Sharing Contract and receive a share of Mode sequencer revenue based on the transaction fees of the deployed contracts.

A portion of the transaction fees from all transactions involving smart contracts accumulates in the Fee Sharing Contract, which issues a transferable NFT representing the right to distribute fees to specified recipients.

Airdrop

To incentivize activities on the network, the team has launched Mode Sunrise, a campaign offering users the opportunity to earn a share of the 550,000,000 $MODE tokens (5.5% of the total supply) available. Users can accumulate points through various activities, including fees generated by each invited user, contributions to network growth, and activities on the Mode ecosystem’s applications.

The 550,000,000 tokens will be distributed among:

  • 400,000,000 MODE allocated to the airdrop through the points system;
  • An additional 50,000,000 MODE unlocked at $100 million TVL;
  • Another 50,000,000 MODE unlocked at $200 million TVL;
  • 50,000,000 for 500 winners of the NFT lottery drawn from early campaign participants.

Here’s how to start earning points:

  • Past Onchain Activities: Points are awarded based on activities across 150 protocols and projects in six key categories (DeFi, NFT, L2, OG, Degen, and Yield). Points are monitorable by connecting the wallet to the platform and can be redeemed through the Mode bridge.
  • Bridge to Mode: Points are earned by transferring ETH, USDT, and USDC to Mode, based on the quantity and duration of these assets on Mode. TVL is verified, and points are distributed weekly.
  • Invites on Mode: Inviting users allows you to earn 16% of the points collected by the invitees during the campaign. Additionally, you’ll earn a share of the fees generated by users you invite to Mode through the onchain referral mechanism.
  • Using Ecosystem Apps: Additional points can be obtained by depositing assets into the ecosystem’s dApps. Points are also earned for transactions on Mode.
  • Upcoming — Completing Missions: Future missions will be introduced with associated points.

Roadmap and First dApps

The project’s roadmap is divided into three phases:

  • Mode Sunrise — From now until April: During this phase users can access Mode Sunrise, check scores, and earn points through the Mode bridge, inviting friends, and using ecosystem apps.
  • DeFi Ecosystem and Native Yield — February/March: New dApps and native yield for assets on Mode will be launched.
  • Token Launch — April: The Mode DAO will be officially launched, and points will be converted into Mode tokens and distributed to users.

Currently, users can interact with three dApps to experience the ecosystem and earn points:

  • Kim: Mode’s native decentralized trading protocol, allowing users to easily trade and provide liquidity for all assets on Mode.
  • Ionic: Liquidity protocol for the Mode ecosystem, enabling users to deposit or borrow assets with absolute capital efficiency. Supported by Metacartel ventures, Ohm, and Mode.
  • Mode Name Service: Powered by SpaceID, allows Mode users to obtain a .mode domain name of their choice from those not yet purchased.

Conclusions

Thanks to the Sequencer Fee sharing system, Mode attracts many developers looking for the most cost-effective and scalable ecosystem to implement new dApps. The Mode Sunrise campaign is clear and accessible to all users eager to actively contribute to the growth of this rollup. If the rules seem favorable, sign up now and start experiencing the potential of the Superchain.

 

Join Mode Sunrise to participate in the airdrop!

 

| Note: This is not financial advice. Before investing, we encourage you to conduct your research. |

 

This post was previously published here.

 

Follow me on Twitter: @ifiwasfrank
Buy me a coffee on starknet.social/ifiwasfrank.strk

 

 

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ifiwasfrank
ifiwasfrank

I'm an Italian crypto holder with a degree in "International cooperation, development, and human rights". Co-Founder Bull&Bear ITA | #CryptoAddicted / #NFTcollector / #DeFiDegen / #Cosmonaut | Contact me on Twitter for collabs and articles (@ifiwasfrank)


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