DeFi Exploration Of Mode Network Through Across Protocol

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Written by

#Club1BCH

3 months ago

In community: Everything Crypto(f12e)

Mode is the Modular DeFi L2 building the Superchain alongside Optimism. The goal of Mode is to empower developers and users to grow an ecosystem of world-class applications and be directly rewarded for their contribution.

Mode builds new onchain economic systems to enable developers to scale their applications, provide higher yields for users. If you have ever deployed to any EVM chains you can deploy to Mode quickly and easily.

Why Mode? Because they created a better airdrop system, by collaborating with top data scientists to create a rewards system that's both transparent and fair. The clarity and consistency is prioritized, and the users will be rewarded for meaningful contributions to ecosystem growth.

My past activity on chains like Ethereum, bridging to Mode, referrals, and app usage within the ecosystem were transformed into points. The system was far more efficient than an airdrop based on volume, transactions or period of time.

Each interaction with Mode protocols will helped me to earn points, and the farming can always be accelerated through active participation in decentralized finance! This is when Across comes to the rescue! Not only you move your funds hustle free, but you will also earn 95% of the fees in $OP when bridging to Mode!

Across is by far the fastest and most financially efficient bridge! The Mode Snapshot proposal has successfully passed quorum and now you can use Across for cross-chain transfers! This is big for me, as I can bridge my assets worry-free with Across! It's time to embrace Season Two and start earning some points!

Season 2 has allocated 500,000,000 $MODE tokens, 5% of MODE total supply, plus up to 1,000,000 OP tokens incentive. Users can can earn multipliers on base asset points when they add those assets to the DApps highlighted on the Mode Dashboard. Also, the users will be able to stake their $MODE tokens to earn a Global Multiplier on all of their activities.

Season 1 ended and I was able to claim my bounty! It wasn't WOW, so maybe airdrops based on points system are for whales! My share was lower than expected, considering I've got 1000 points from my on-chain activity. I bridged to Mode to secure those points and trust me it was expensive!

I claimed my 338 $MODE tokens after accepting terms and conditions, then went to stake them! Not sure if $10 worth of $MODE will make a difference in the overall ecosystem! Welcome to Season 2! The claim for season one points is live, and a new chapter has started!

The users that stake $MODE can earn airdrops from ecosystem teams and in the future staking $MODE will earn revenue via restaking to secure Mode’s L3 ecosystem. The amount of staked $MODE will give a higher point multiplier.

My current performance for this season is really low, with only 116 points. I must improve the farming rate or my Season 2 $MODE airdrop will be even lower than 338 tokens. The plan was to stake my tokens, and use Layer3 to interact with mode protocols.

I completed some quests on Layer3 before staking, and both a small batch of tokens in the process. I staked 423 $MODE at the start of July, and I wonder how many points I will get during Season 2.

The whales will stake $MODE and earn a share of 20,000 $OP every week, giving a 62.9% APY. I am a small fish in a big pond, and my staked amount was too low to generate any $OP rewards. However, I triggered some points multipliers for holding and staking an important percentage of my portfolio.

Users had to stake a dollar equivalent of 25% or 50% of the portfolio in $MODE for points boost, and the $MODE I had was 69.5% of all my assets I had on mode. Being poor triggered a 1.5x points boost! Happy farming!

There's still hope for other drops, now that I can bridge faster and cheaper with Across! I will use Layer3 to earn more points on Mode, and interact with various protocols. You can mint CUBEs on Mode, and interact with those protocols that will boost your chances. Start your journey and hopefully the DeFi summer will come with bounties

Yes bro... tick boxes in two places by doing quests! Layer3 will launch $L3, and it was suggested that CUBEs minted from quests will trigger eligibility. My advice is to start grinding on Layer3 ASAP, in any way possible. Claim the daily off-chain GM and increase your streak for achievements, complete quests and mint CUBEs, and obviously spread the on-chain interaction across many days.

I started the Season 2 hustle on Ionic, where I supplied another tener in USDC. It's easy and simple, plus it may bring some $ION in the future! The Mode season just started so I am constantly checking new opportunities for both yields and points boosts.

My exploration helped me to discover ModeChat, the Web3-based SocialFi platform that enables users to connect and communicate. The interface is user friendly and has many tools integrated in the UI. It's interesting that they have a points system and no token, which for me brings airdrop vibes.

Join ModeChat and start leaving blockchian footprints on Mode. You can use it for socializing, making new friends, and even as a DEX. My favorite part is the integrated NFT minting tool, where you can create your own Non-Fungible tokens.

I created The UMfluencer for fun, so here's something for you if you're looking for extra transactions! Minting the NFT grants you access to a private chat channel, available only for holders! Mint The UMfluencer NFT on ModeChat!