Mode, a Layer 2 network constructed upon the Stack framework, is set to commence its airdrop claims for its governance token today at 7 a.m. ET, marking a noteworthy milestone for the project. During this primary phase, Mode will allocate 550 million Mode tokens, accounting for 5.5% of its total token reserve of 10 billion.

The allocation process is tailored around Mode points owned by users, which were initially bestowed during the "Mode Sunrise" event held in January. These points mirror users' historical engagements across diverse DeFi applications, NFTs, and other Layer 2 networks, establishing a just and all-embracing distribution system.

Subsequent to the initiation of the claiming process, the Mode token is anticipated to be listed on a variety of decentralized and centralized exchanges, presenting users with the chance to exchange and partake in the token-based economy.

Continuing into the future, Mode envisions extending its token distribution in a second phase spanning from May 5 to September 6, during which an additional 500 million tokens will be assigned to foster the expansion of its community and ecosystem.

Elucidating its tokenomics, the project has disclosed that investors and core contributors are slated to receive 38% of the total Mode tokens, while the foundation treasury will retain 27%. The residual 35% of the token supply is set aside for community and developer airdrops, underscoring Mode's dedication to nurturing community involvement and interaction.

Since its inception in January, Mode has experienced swift development, with a collective value locked of about $500 million and more than 400,000 user wallets integrated, mainly driven by airdrop farming endeavors. Mode plays an intrinsic role in the Superchain ecosystem, fashioned using OP Stack and backed by the Optimism Foundation. As a constituent of the Optimism Superchain habitat, Mode will contribute a portion of its sequencer revenue to the Optimism Collective and uphold the principles of the "law of chains," an open impartiality framework overseeing the Superchain network.

The introduction of Mode's token emerges amidst a flurry of recent token launches and distribution schedules in the crypto domain, underscoring the mounting momentum and creativity unfolding within the decentralized finance sphere.