Mode Network is an Ethereum Layer 2 platform built on the OP stack, designed to support protocol founders in growing their web3 businesses. It provides tools for user management, user onboarding, and sustainable business development.
What is Mode Network
Here's how it works:
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Growth-First Approach: Mode Network focuses on building products and mechanisms that encourage growth. It supports developers, users, and protocols in expanding the ecosystem.
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Shift in Focus: While many blockchain efforts have improved protocols (speed, scalability), Mode Network emphasizes the application layer (real-world uses) and growth layer (expanding audience reach).
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Core Features for Users:
- Contract Secured Revenue: Developers who deploy smart contracts on Mode Network can earn a share of the fees generated by those contracts.
- Referral Revenue: Rewards for referring new developers, users, or protocols to the network, paid as a share of transaction fee revenue.
- Project Growth Dashboard and Tooling: Developers get access to a dashboard with important data on their applications and tools to help scale their community.
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Partnerships and Enhancements: Mode Network is collaborating with web3 companies to add more features like data-feeds, benefiting developers.
In summary, Mode Network is an Ethereum Layer 2 platform aiming to promote the growth of web3 applications and businesses. It provides various tools and revenue opportunities for developers, focusing on expanding and enriching the blockchain ecosystem.
Team of Mode Network
James Ross
CEO
James is the CEO and co-founder of Mode Network. He has a Marketing background, and founded his own agency, which was bought by Hype.Partners. He then was Managing Director and Co-Chief Executive Officer of Hype, a Web3 marketing agency. He is also an advisor of Hashflow a DEX protocol.
Nick Dijkstra
COO
Nick is the COO of Mode Network. Previously he was the COO and working in Product and Innovation for Hype, a Web3 marketing agency. Before that, we was VP of Product of Commsor and Co-founder and CPO of Port, grow-focused platforms.
Funding of Mode Network
Mode Network review
Pros
Testnet Active
Despite no dev team, the testnet is operational.
Reduced Fees
Offers fees 95% lower than Ethereum, thanks to OP stack layer.
Fee Redistribution
Implements mechanisms to share transaction fees with ecosystem contributors.
Useful Tools
Developing dashboards and tools for user management and growth.
Cons
Unknown Developers
Anonymous technical team; Disclosed members are in marketing and management.
Adoption Uncertainty
Risks of users and developers preferring alternative solutions.
Regulatory Challenges
Faces potential risks from unresolved regulatory issues.