Mode Network Initiates 550 Million Crypto Airdrop on Optimism

Mode Network, a decentralized finance (DeFi) solution built on the Optimism Stack, has introduced its governance token, MODE, and launched a crypto airdrop campaign. The airdrop involves the distribution of 550 million tokens, with participants able to claim their tokens through the token claim site. The MODE token serves as a governance mechanism and aims to drive ecological growth within the network. The total supply of MODE tokens is set at 10 billion, with 1.3 billion tokens currently in circulation. A significant portion of the token supply is allocated for crypto airdrops, investors and early contributors, and ecosystem incentives. To prevent early sell-offs, top contributors will have restrictions on their initial token claims. The Mode Network is collaborating with Optimism to develop the Superchain, which will enhance collaboration between decentralized applications (Dapps) and users. The current total value locked (TVL) of the network is $603 million, making it one of the top 10 Layer-2 networks. It supports a variety of native and external applications and boasts a substantial user base and transaction volume.