Mode, a Layer 2 project, will introduce its unique cryptocurrency through an airdrop program. Users can claim their MODE tokens starting from May 7, with a total supply of 10 billion tokens available.

Airdrop Details and Token Distribution

The first airdrop by Mode will conclude by May 5, allowing users to claim their MODE tokens from 14:00 on May 7. Additionally, the second airdrop is scheduled to begin on the same day and will run until September 6, 2024. Participants have a 30-day window to claim tokens from the initial airdrop, with any unclaimed tokens set aside for future incentives. Mode has outlined that out of the total 10 billion tokens, 1.3 billion will circulate initially.

Token Allocation Plan

Out of the 10 billion tokens in supply, Mode has earmarked 35% for airdrops to users and developers, while 27% will be held in reserve for the treasury. The rest of the tokens will be evenly distributed among those who contributed to Mode and investors. As per data from DefiLlama, Mode, an Ethereum Layer 2 project, currently possesses assets valued at $475 million.

Final Thoughts

The launch of MODE tokens through an airdrop signifies a major milestone for the Layer 2 project, promising a substantial total supply and generous allocation for users and developers. This move could attract considerable attention within the crypto community. The progression of Mode and its new token will undoubtedly be an exciting journey to observe in the crypto space.