Posted on Feb 23, 2024Read on

Mode DevDrop 1: 500 Million MODE Tokens Allocated for Developers

Today, Mode unveils DevDrop 1, an innovative competition designed to empower developers to launch their Dapps and L3s on the Mode Network. This initiative aims to catalyze the growth of the Mode ecosystem by rewarding developers for their contributions with a share of up to 5% of the MODE token supply. Mode DevDrop 1 focuses on projects that drive real impact to the network.

Apply for Mode DevDrop 1

Fair Rewards for Developers Driving Real Impact

Mode DevDrop 1 rewards developers driving impactful contributions to the Mode Network. This initiative offers developers a chance to share up to 5% of the MODE token supply or 500 million tokens. This opportunity is not just about rewards; it's a gateway to visibility, growth, and innovation for developers ready to make their mark.

Exposure to the 130,000 Users

At its heart, Mode DevDrop 1 is the competition to between projects to help grow Mode Network. On top of that, projects get exposure to 130,000 current users on Mode and amplification through all Mode related social and community channels.The competition is structured around Epochs, two-week periods during which developers showcase their project’s ability to contribute to the network's growth and user engagement. With a dynamic reward system that emphasizes both quantitative and qualitative contributions, each Epoch is a new battlefield for impact.

The Mechanics of Success

Success in Mode DevDrop 1 is quantified through our proprietary points system, where the rewards are proportionally distributed based on each project’s performance and overall impact during an Epoch. This ensures a fair and transparent mechanism that rewards genuine value addition to the Mode Network.

What are we looking for?

Types of Projects we are looking for:

  1. LST/LRT – inventive new ways to implement staking and restaking protocols that drive liquidity and potentially tap into Eigen Layer’s points.

  2. Decentralized Exchanges – a focus on new innovative DEXs that can drive volume and liquidity while using Mode's upcoming Native Yield.

  3. Lending Protocols – innovative lending mechanisms that drive large liquidity for lending and borrowing while using Mode's upcoming Native Yield.

  4. Perp DEXs – high performing DEXs that help bring deep liquidity to illiquid markets

  5. SocialFi – exciting new social mediums where users contribute and own the network

  6. Gaming and GambleFi – engaging and fun gaming products that utilize onchain infra.

  7. NFTs -– interesting experimental NFT collections that go beyond 10k PFPs and drive utility to collectors

  8. Infra – new wallets, anything improving user UX, growth tools for founders, trading bots, analytics and more.

  9. Wildcard -- surprise us!

Developer Perks: Beyond the Competition

On top of Mode DevDrop 1. Projects get a plethora of benefits, including Sequencer Fee Sharing (SFS), which allows developers to earn from transaction fees on the network, as well as being able to tap into Optimism’s Retro PGF, a part of Optimism’s $1 billion grants program.

Join the Onchain Cooperative

Are you ready to make an impact and compete for unparalleled rewards? Mode DevDrop 1 is your opportunity to showcase your Dapp or L3 solution, contribute to the Mode Network's growth and claim your share of the future.

About Mode

Mode is the Modular DeFi Layer 2, committed to enabling new economic systems for growth, supported by a $7 million grant from Optimism and part of the Superchain.