Mode Sunrise Mainnet & Airdrop 1: The Modular DeFi L2 Launches
Mode Sunrise Mainnet and Airdrop 1 is live with 550,000,000 MODE available (5.5% of supply). You can find invites via friends, try searching on twitter. Please be aware of scams and only ever interact with Mode’s official website (mode.network and app.mode.network) and twitter/X account (@modenetwork).
It gives us great pleasure to announce that Mode Sunrise Mainnet and our first airdrop campaign is now live. This campaign begins Mode’s journey in building new economic systems for growth, backed by a 2M OP grant from Optimism.
Mode has worked with leading data scientists and researchers to build a campaign that rewards users for past activity on chains like Ethereum, bridging to Mode and using ecosystem applications and inviting friends to the network.
Mode Sunrise is not like other points campaigns. As a user you will be rewarded if you contribute meaningfully to ecosystem growth. The above formula gives insight into how we quantify and reward contributions to ecosystem growth.
Over the coming weeks we will be sharing more on the weight of these individual values, in addition to more in depth documentation.
MODE SUNRISE REWARDS
Mode has allocated 550,000,000 MODE (5.5% of total supply) to this first campaign which will reward users for growing the network based on the points they earn.
The 550,000,000 tokens will be split between.
400,000,000 MODE allocated to the points airdrop
50,000,000 additional MODE unlocked at $100M TVL
50,000,000 additional MODE unlocked at $200M TVL
50,000,000 for 500 NFT lottery winners among the top 20% campaign participants
AIRDROP REWARDS
Again, this is not another bs points campaign. Our points system has been quantitatively modelled with leading research partners and PHDs in economic design to enable optimal rewards for participation across the network. It’s simple, if you grow the network you will be rewarded.
You can see a full breakdown of how points are distributed here.
Here’s how to start earning points on Mode:
Past Onchain Activity: Earn points based on past activity across 150 protocols and projects from 6 key categories. All points can be viewed when connecting your wallet and can be claimed by bridging to Mode. The categories are:
DeFi - users of DeFi apps
NFT - holders of NFTs
Scaling - users of Layer2s
OG - users of OG DeFi apps like Maker, Curve, Yearn
Degen - users of leverage apps
Yield - apps that give users yield
Bridge assets to Mode: Bridging ETH, USDT and USDC to Mode earns points relative to the time these assets remain on Mode. TVL is checked and points are distributed hourly.
Invite friends to Mode: When you invite friends you will earn 16% of the points they collect during the campaign. For example if your friend earns 100,000 points you will earn 16,000. You can invite multiple friends to Mode. In addition, you will also earn a share of Sequencer Fees for people you refer to Mode from the onchain referral mechanic (this will be live in early Feb).
Use ecosystem apps: You get higher points for depositing assets into launch partner ecosystem apps. In addition, you earn points for transactions on Mode. Please note using ecosystem apps is at your own risk.
Coming soon - Complete quests: There are boosted points for completed quests. Go to the Quests tab and check out the latest quest. Points will be earned when quests are completed. Please note that quests will be limited in capacity.
TIMELINE
Phase 1 - Mode Sunrise - Now to April
You can access mode Sunrise, see your score and earn points by bridging to mode, inviting friends and using ecosystem apps.
Phase 2 - DeFi ecosystem and Native Yield - Feb/March
February is focussed on supporting Mode’s Native DeFi ecosystem applications and partners. In March we will see native yield launch on Mode.
Phase 3 - Mode DAO and Token Launch - April
Mode DAO will launch and users can start to govern the Mode protocol. Points will be converted to MODE tokens and distributed. In addition, a series of new protocols will be introduced.
ECOSYSTEM LAUNCH PARTNERS
We are excited to have 3 initial launch partners on Mode with many more scheduled to launch in the coming weeks.
Please use at your own risk.
Kim is the native decentralized trading protocol of mode, enabling users to easily swap and provide liquidity for all assets on Mode.
Ionic is a liquidity protocol for the Mode ecosystem. Borrow and lend assets with absolute capital efficiency. Backed by Metacartel ventures, Ohm and Mode.
Mode Name Service is powered by SpaceID, enabling Mode users to get a .mode domain name of their choosing. Grab your .mode domain today.
TECH PARTNERS
Mode is powered by Optimism and a member of the Superchain alongside OP Mainnet, Base and Zora. The OP Stack is a modular framework built to scale Ethereum. Mode has worked closely with the Optimism team to build new economic systems onchain and is supported by a grant of up to 2M OP.
RESEARCH PARTNERS
OpenBlock is pioneering a data-driven platform dedicated to incentive design, fostering sustainable growth within decentralized protocols.
SeaLaunch have built a reputation as some of the top analysts on Dune Analytics. Their research has been featured in Bankless, Forbes and Bloomberg.
FranklinDAO have worked with Mode on research around Cooperative Game Theory for blockchains . We will continue to publish our collaborative research efforts in the coming weeks.
TEAM
The Mode team has experience scaling $billion blockchain ecosystems such as BNB Chain, Near and many others. Mode has brought together the smartest researchers and developers in the space to build new economic systems for growth and is supported by Optimism in building out the Superchain.
Terms and Conditions
Please view full terms and conditions of the campaign here.