Mode Network Launches Airdrop Campaign on Ethereum Layer 2

An airdrop is normally hosted by web3 projects to reward participants who use their services and products. 

But this particular project has unique campaign—participants will obtain points by using other protocols. 

Also read: 24+ Potential Crypto Airdrops to Watch Out For in 2024

Mode Introduction

Mode (https://www.mode.network/) is a layer 2 decentralized finance protocol built on the Ethereum network. It seeks to establish a “Superchain” in collaboration with Optimism. Mode aims to empower developers and users to develop an ecosystem of world-class applications, offering direct rewards for contributions.

Developer and User Incentives

Mode’s design focuses on creating new on-chain economic systems that enable developers to scale applications and offer higher yields for users. If you have experience deploying on any Ethereum Virtual Machine (EVM) chains, Mode allows for quick and easy application deployment. 

The platform supports experimental DeFi development, providing hands-on support to scale applications and earn predictable revenue through sequencer fee sharing and developer airdrops.

Sequencer Fee Sharing

The Sequencer Fee Sharing (SFS) module is a key feature of Mode, allowing developers to register contracts and receive a portion of Mode’s sequencer revenue based on the transaction fees from deployed smart contracts. 

This contract revenue-sharing incentive is integrated at the protocol layer, promoting collaboration between dapps and users to share network sequencer profits.

Mode’s Features

As of now, Mode’s primary feature is asset bridging to the Ethereum blockchain. The recent implementation of Optimism’s Bedrock upgrade has significantly reduced fees by over 95% compared to Ethereum, enhancing speed and affordability for end-user decentralized applications (dApps).

Mode Airdrop Guide

The Mode mainnet launched in January with the “Mode Sunrise” campaign, set to conclude in April. This campaign differs from typical airdrops as participants earn points based on their on-chain activities within the Mode ecosystem.

To check how many points you are eligible: 

• Step 1: Go to https://app.mode.network/early/.
• Step 2: Enter an invite code. 
• Step 3: Connect an X account. 
• Step 4: Connect a wallet. Compatible wallets include MetaMask, Rainbow, Coinbase Wallet, and Walet Connect.
  • Here is what the developers advised: “Use your most active wallet for more points.”
• Step 5: Check the number of points obtained. 

Participants can increase their Mode points by executing on-chain transactions within the ecosystem. Points multipliers are available for those providing liquidity to specific protocols, including:

There are also points multipliers for those who will provide liquidity per protocol:

• Kim (https://www.kim.exchange/): 4x
• SwapMode (https://swapmode.fi/): 4x
• iZUMi (https://izumi.finance/trade/swap): 4x
• Sturdy (https://sturdy.finance/): 2x
• LayerBank (https://layerbank.finance/): 2x
• Ionic (https://www.ionic.money/): 2x
• Ironclad (https://www.ironclad.finance/): 2x

The team has announced that approximately $550 million worth of $MODE will be distributed as rewards.

This article is published on BitPinas: Mode Airdrop Will Give You Points Based on Your Activity on Other Dapps

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