Mode plans to launch the governance token airdrop claim at 19:00 today

ChainCatcher news, according to The Block, the L2 network Mode built on the OP Stack will launch its governance token airdrop claim 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.

It is reported that this distribution is based on the Mode points held by users, which were initially allocated during the "Mode Sunrise" event in January. Shortly after the claim starts, Mode tokens are expected to be listed for trading on various decentralized and centralized exchanges.

Additionally, 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 allocated. The team has also released further details regarding its tokenomics. Of the total supply of 10 billion tokens, investors and core contributors will receive 38% of the total Mode tokens. The foundation treasury will hold 27%, while the remaining 35% is specifically allocated for community and developer airdrops.