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- Mode, a Layer 2 project, is set to launch its own cryptocurrency through an airdrop.
- The first airdrop will be completed by May 5, with users able to claim their MODE tokens from 14:00 on May 7.
- According to Mode, the second airdrop will commence on May 5 and continue until September 6, 2024.
Mode, an Ethereum Layer 2 project, is launching its own cryptocurrency, MODE tokens, through an airdrop. Users can claim their tokens from May 7, with a total supply of 10 billion tokens.
Mode’s Airdrop and Token Supply
Mode’s first airdrop is set to complete on May 5, with users able to claim their MODE tokens from 14:00 on May 7. The second airdrop will commence on the same day and continue until September 6, 2024. Users will have 30 days to claim their tokens from the first airdrop. Any unclaimed tokens will be used for future rewards. Mode has announced that the initial circulating supply of MODE tokens will be 1.3 billion out of a total supply of 10 billion.
Allocation of MODE Tokens
Of the total supply, 35% of the MODE tokens will be allocated for airdrops to users and developers, while 27% will be reserved for the treasury. The remaining tokens will be equally distributed among contributors to Mode and investors. According to data from DefiLlama, Mode, an Ethereum Layer 2 project, currently holds assets worth $475 million.
Conclusion
Mode’s launch of its own cryptocurrency through an airdrop represents a significant development for the Layer 2 project. With a substantial total supply and a generous allocation for users and developers, the MODE token could potentially attract significant interest from the crypto community. The future of Mode and its new token will undoubtedly be a development to watch.
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