CoinGecko Experts Advise on Mode Protocol Airdrop Participation

CoinGecko experts have explored ways to increase the number of points for participating in the distribution of 550 million MODE tokens by the Mode project, scheduled for April.

Mode (@modenetwork) is a Layer 2 platform built on the Ethereum blockchain with an upcoming airdrop scheduled for April.

Check out our guide on earning points in their Sunrise Campaign. ⬇️https://t.co/GjoDcOQofD

— CoinGecko (@coingecko) February 29, 2024

Mode is a modular Layer 2 DeFi platform based on Ethereum. The protocol is created using the OP Stack framework from Optimism and aims to enable rapid deployment of EVM-compatible applications.

The project is focused on rewarding developers and users for their contributions to the ecosystem’s growth. Part of these efforts includes an initiative to share fees among transaction validators to enhance speed, efficiency, and reduce costs.

In October 2020, the team raised $9.75 million and later received a grant of 2 million OP from the Optimism Foundation for a program to stimulate user base growth.

One of the initiatives is the Mode Sunrise loyalty campaign, which includes an airdrop of 550 million MODE or 5.5% of the total supply.

From the announced amount, the team will distribute:

• 400 million tokens based on accrued points;
• 100 million MODE additionally upon the project reaching a TVL of $100 million and $200 million;
• 50 million coins among the winners of the NFT lottery.

CoinGecko experts have outlined step-by-step instructions on what needs to be done to participate in the airdrop and maximize results.

First, an invitation is required. The company specialists strongly recommend using only verified sources for referral codes.

Next, connect your account in X by providing access to the account.

After this, link a wallet. CoinGecko used one of the most popular in the Ethereum ecosystem — MetaMask. Experts noted that it is better to use the application through which most historical activity in the DeFi sector was conducted.

Once all necessary linking actions are completed, the user will see their total points. Points are awarded for actions in 150 protocols and projects. This includes using various DeFi applications such as trading platforms, including those with leverage, as well as lending and staking services.

The next necessary step is to connect to the Mode protocol itself. For this, some amount in stablecoins USDT or USDC is required, and Ethereum or wrapped Bitcoin WBTC can also be used.

Points are awarded daily for the participation of these assets in the project’s overall TVL metric.

The total reward amount can be increased by sharing a referral code with someone. This additionally brings up to 16% of the points accrued by the person you invited.

There are two more ways to maximize the distribution amount: using applications based on Mode and completing quests from protocol launch partners. These two categories largely overlap.

Back in January, experts compiled a list of promising airdrops for 2024, which included StarkNet, LayerZero, MetaMask, and several others.