PANews reported on May 7 that according to The Block, Mode, an L2 network built on OP Stack, will launch an airdrop claim for its governance tokens at 19:00 Beijing time on May 7. In this initial phase, Mode will distribute 550 million Mode tokens, accounting for 5.5% of its total supply of 10 billion tokens. The allocation is intended to be based on the mode points held by users, which were originally distributed during the "Mode Sunrise" event in January. Shortly after the claim is launched, Mode tokens are expected to be listed for trading on various decentralized and centralized exchanges.
After the first phase, Mode plans to continue its token distribution, with the second phase running from May 5 to September 6, during which an additional 500 million tokens will be distributed. The team also released other details about its token economics. Investors and core contributors will receive 38% of the total supply of Mode tokens out of a total supply of 10 billion. The foundation treasury will hold 27%, with the remaining 35% earmarked for community and developer airdrops.
