Mode Network

Season 2 ran from 5 May to 6 September 2024, with a pool of 500 million MODE, 5% of supply, plus up to 1 million OP tokens in incentives. Forklog described the first distribution as 550 million MODE, 5.5% of the 10 billion issuance, which matches the earlier Season 1 announcement. Users qualified by signing up, bridging tokens and collecting at least 250 points, with rewards calculated from points awarded since January.

The claim timing is confusing because there were two stages. One report says the claim window opened on 7 May 2024 with 30 days to claim, while later reports say Season 2 concluded and users could claim free MODE starting on 18 October 2024. One source adds that the top 1,000 wallets by points would receive 50% of their MODE on 18 October and the other 50% after 90 days. Airdrop pages now show the claim as closed, and unclaimed tokens were reallocated to future rewards.

The Defiant reported that Mode's total value locked passed $60 million within four days of announcing the airdrop campaign, a good example of how quickly deposits flow into a points campaign.

Staggering vesting for the largest wallets is a deliberate response to the concern that the biggest recipients dump first. It does slow them down, but it also means the 1,000 top wallets still collected the largest allocations.

Season-based programmes also change what counts as participation. In Season 2, signing up, bridging and collecting 250 points were the gates, and the rest depended on activity. Rules that change from season to season mean that experience from one round does not carry over, and any guide that describes one round's steps may be wrong for the next. Always read the current season's announcement.