Mode to receive up to 2 million OP grant from the Optimism Foundation
Quick Take
- Modular DeFi Layer 2 network Mode will receive a grant of up to 2 million OP tokens ($5.3 million) from the Optimism Foundation to support user growth incentives.
- Mode will commit a percentage of its revenue to the Optimism Collective as part of the initiative.
Modular DeFi Layer 2 network Mode is set to receive up to 2 million OP tokens — worth approximately $5.3 million at current prices — as a grant from the Optimism Foundation to support user growth incentives on the platform.
Mode, built using Optimism's OP Stack, will commit a portion of its sequencer revenue to the Optimism Collective and opt into the Law of Chains — an open neutrality framework designed to govern the Superchain network — as part of the initiative.
In Layer 2 networks, sequencers are responsible for ordering transactions before they are batched and submitted to the main chain, in this case, Ethereum. The Optimism Collective is a community designed to reward public goods for Ethereum, according to its website.
The Superchain is Optimism’s network of multiple Layer 2 blockchains, designed to scale Ethereum. Other chains that are part of the Superchain ecosystem include OP Mainnet itself, the Coinbase-incubated Base network, Zora Network and Manta Pacific.
Mode’s objective is to become a DeFi hub for the Superchain, founder James Ross said in a statement — focusing on growing interoperable DeFi applications and infrastructure.
Mode said it will continue to develop open-source tools for the Superchain ecosystem, focusing on bringing native yield, smart treasuries and on-chain AI agents to the network, as well as committing resources to public goods.
Mode plans to launch its mainnet at the end of January.
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