MODE is a new Ethereum L2 that has just deployed its Mainnet.
Today they announced their AIRDROP.
I'm bullish for many reasons that I will explain above.
Starting to farm it today will give you the advantage of being positioned from day 0.
Introducing MODE Airdrop Guide
🧵
Today they announced their AIRDROP.
I'm bullish for many reasons that I will explain above.
Starting to farm it today will give you the advantage of being positioned from day 0.
Introducing MODE Airdrop Guide
🧵
I'm going to divide the thread into 3 parts:
1️⃣ What MODE is
2️⃣ Why being bullish
3️⃣ Airdrop
If you want to go straight to the airdrop, skip to point 3.
If you don't want to read and want to go straight to action, do it from here: ref.mode.network
Let's get started.
1️⃣ What MODE is
2️⃣ Why being bullish
3️⃣ Airdrop
If you want to go straight to the airdrop, skip to point 3.
If you don't want to read and want to go straight to action, do it from here: ref.mode.network
Let's get started.
1️⃣ @modenetwork
Mode is a new Ethereum Layer 2 built with the OP Stack.
Unlike other L2s (like BLAST), MODE has been deployed on the mainnet since yesterday, and you can use the ETH you deposit.
Mode introduces features that no other L2 currently has.
Mode is a new Ethereum Layer 2 built with the OP Stack.
Unlike other L2s (like BLAST), MODE has been deployed on the mainnet since yesterday, and you can use the ETH you deposit.
Mode introduces features that no other L2 currently has.
The most interesting ones are:
> Share of sequencer fees: developers can register their Smart Contracts in the sequencer and receive a portion of the profits based on their usage.
> Native stablecoin yield powered by @ethena_labs: your stablecoins will generate yield natively
> Share of sequencer fees: developers can register their Smart Contracts in the sequencer and receive a portion of the profits based on their usage.
> Native stablecoin yield powered by @ethena_labs: your stablecoins will generate yield natively
> Native ETH yield powered by @redactedcartel: your ETH will turn into apxETH, the LST that offers the highest yield (~9% APY).
> Mode Smart Treasury: it uses network revenue to buyback and reissue MODE to devs and users.
> Mode Smart Treasury: it uses network revenue to buyback and reissue MODE to devs and users.
2️⃣ WHY BULLISH
> TGE end of Q1
> Backed by Optimism: Mode received an OP grant of 2M $OP (@~6M$)
> +20 dapps deployed
> Uses Celestia as DA layer: bullish catalyst
> L2 with the best native yield (redacted + Ethena)
> TGE end of Q1
> Backed by Optimism: Mode received an OP grant of 2M $OP (@~6M$)
> +20 dapps deployed
> Uses Celestia as DA layer: bullish catalyst
> L2 with the best native yield (redacted + Ethena)
> Devs have more incentives to build thanks to the share of the sequencer fees (to give you some context, Arbitrum earns $7 million in fees every 30 days)
More dapps > more TVL > more FDV
> Series A funding round coming soon
More dapps > more TVL > more FDV
> Series A funding round coming soon
3️⃣ AIRDROP
We've reached the interesting part.
I'm sorry to say that it's an airdrop based on a points system, but honestly, that's not bad to me.
What would you prefer? Farming a Layer 2 for years without really knowing what to do, or knowing what you actually have to do?
We've reached the interesting part.
I'm sorry to say that it's an airdrop based on a points system, but honestly, that's not bad to me.
What would you prefer? Farming a Layer 2 for years without really knowing what to do, or knowing what you actually have to do?
They have allocated the 5.5% of the total supply to the FIRST campaign.
If MODE launches at 1B$ FDV (not hard in the current market) they would airdrop 55M$, which is really good.
And that's only the first campaign, there will be more.
If MODE launches at 1B$ FDV (not hard in the current market) they would airdrop 55M$, which is really good.
And that's only the first campaign, there will be more.
The mechanics are similar to BLAST, where you deposit ETH and receive points, but with several important differences:
> Your ETH is NOT locked; you can withdraw it whenever you want (but you lose points).
> You can use the network and earn more points.
> Your ETH is NOT locked; you can withdraw it whenever you want (but you lose points).
> You can use the network and earn more points.
> You can also deposit USDT/USDC.
> You can earn a portion of the sequencer fees.
In other words, it's a standard mainnet with a points system that will guarantee you an airdrop, whose token will be launched at the end of Q1.
It's a good deal, isn't it?
> You can earn a portion of the sequencer fees.
In other words, it's a standard mainnet with a points system that will guarantee you an airdrop, whose token will be launched at the end of Q1.
It's a good deal, isn't it?
How to get points?
> Based on past onchain activity (defi, NFTs, L2...)
> Bridging money
> Referring ppl
> Using eco dapps
> Completing quests (not ready yet)
So, let's start.
> Based on past onchain activity (defi, NFTs, L2...)
> Bridging money
> Referring ppl
> Using eco dapps
> Completing quests (not ready yet)
So, let's start.
Tasks:
> Join here: ref.mode.network
> Connect your X profile
> Connect your wallet
> Bridge ETH/USDT/USDC to Mode (don't use Rabby since its not supported yet)
> Generate your referral code and refer people
> Join here: ref.mode.network
> Connect your X profile
> Connect your wallet
> Bridge ETH/USDT/USDC to Mode (don't use Rabby since its not supported yet)
> Generate your referral code and refer people
Use a fresh wallet not linked with your real wallets, otherwise you will get doxxed.
Take care with that.
Besides that, it's always safer to do it this way just in case something bad happened.
Take care with that.
Besides that, it's always safer to do it this way just in case something bad happened.
There is a boost on points for the first 7 days.
Also, you can EARN more points this way:
> Make some swaps or add some LPs on app.kim.exchange (no token yet)
> Supply assets on app.ionic.money (no token yet)
> Mint some Mode SpeceID on space.id
Also, you can EARN more points this way:
> Make some swaps or add some LPs on app.kim.exchange (no token yet)
> Supply assets on app.ionic.money (no token yet)
> Mint some Mode SpeceID on space.id
For now, there are no more official tasks, but over the next few days, they will announce what else needs to be done.
Check the full announcement here: mode.mirror.xyz
I'll keep updating on my feed about this.
Greetings,
Eric
Check the full announcement here: mode.mirror.xyz
I'll keep updating on my feed about this.
Greetings,
Eric
DISCLOSURE:
This thread comes as a result of a collaboration I've closed with Mode, but everything I mention is what I really think. I believe that the share of sequencer fees and their integrations with Redacted Cartel and Ethena Labs are absolutely brilliant.
This thread comes as a result of a collaboration I've closed with Mode, but everything I mention is what I really think. I believe that the share of sequencer fees and their integrations with Redacted Cartel and Ethena Labs are absolutely brilliant.
Additionally, the fact that it uses Celestia as DA and [redacted] makes it even more bullish.
Even if I hadn't secured this collaboration, I would have made the thread anyway because I truly think it's a Layer 2 that introduces some astonishing innovations.
Even if I hadn't secured this collaboration, I would have made the thread anyway because I truly think it's a Layer 2 that introduces some astonishing innovations.
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