Mode will release the governance token MODE on May 7 and open airdrop applications

According to official news, Mode, an L2 network built on OP Stack, announced that it will release the governance token MODE on May 7, with a total supply of 10 billion (initial circulation supply of 1.3 billion), of which 5.5% will be used for the first round of airdrops (which will end on May 5), and airdrop claims will be open at 19:00 on May 7. Users will have 30 days to claim the tokens, and unclaimed tokens will be used for future rewards for users and developers on Mode. The second round of airdrops will last from May 5 to September 6, when another 500 million tokens (5% of the total supply) will be issued. According to its disclosure, 38% of MODE's supply will be allocated to investors and core contributors, 27% will be allocated to the foundation treasury, and 35% will be used for airdrops for users and developers.