Introduction
This video offers an in-depth look into the DeFi and airdrop farming opportunities on Mode Network, an Ethereum Layer 2 solution known for its fast growth and unique airdrop farming opportunities. The network’s distinct approach includes a chain-wide points program and individual applications with their own points programs, allowing users to qualify for multiple airdrops simultaneously.
Understanding Mode Network
- Modular DeFi L2: Mode is an Ethereum Layer 2 network optimized for DeFi, built on top of Optimism. It’s designed to scale the Ethereum network, offering a faster, cheaper alternative that still supports Ethereum-based applications.
- Economic Mechanisms: Mode stands out for its economic incentives, including a referral program for using the chain and various opportunities to earn points toward the ultimate Mode airdrop.
Key Features of Mode
- Points Program: The entire chain has a points program aimed at the Mode airdrop, along with individual applications on Mode offering their points programs.
- Referral and Incentives: Features a referral program just for using the chain, with many ways to earn points and yield through single pools deployed with funds.
DeFi Ecosystem on Mode
- Mode hosts a robust DeFi ecosystem with applications allowing users to earn points towards airdrops for those applications and the entire Mode Network. This ecosystem has attracted significant deposits and applications from other DeFi ecosystems, such as VelDrome from Optimism.
How to Get Started with Mode
- Add Mode to Your Wallet: Use chainlist.org to add Mode to your Ethereum-compatible wallet like MetaMask.
- Invite Code: Obtain an invite code for Mode, available through social media or provided links.
- Bridge Funds to Mode: Use the Mode Bridge or Orbiter to bridge funds from Ethereum or other chains to Mode.
Exploring DeFi on Mode
- DefiLlama and the Mode network’s airdrop section are excellent resources for finding DeFi applications on Mode that are part of the points program.
- Mode’s DeFi ecosystem includes Renzo for liquid reaking, Sturdy Finance for isolated lending pools with shared liquidity, and several decentralized exchanges and lending protocols offering unique earning opportunities.
Conclusion
Mode Network offers a fascinating blend of DeFi and airdrop farming opportunities, making it a compelling choice for users looking to explore new avenues in the crypto space. With its economic incentives and growing DeFi ecosystem, Mode presents an innovative approach to blockchain technology and digital finance.
