Mode
Crypto Overview
Project Overview
Mode is a Layer 2 blockchain platform built on Ethereum that aims to provide a scalable and developer-friendly environment for Web3 applications. The MODE token serves as the network's utility and governance token.
Purpose and Utility
The MODE token's primary utilities include: Governance participation in the Mode DAO, Gas fee payments on the Mode network, Staking for network security, and Rewards distribution to active participants in the ecosystem.
Business Model Assessment
The platform focuses on legitimate blockchain infrastructure development, with clear technological utility. The business model appears transparent and focused on providing genuine blockchain services without involvement in prohibited activities like gambling or interest-based lending.
Real-World Adoption
Mode is in relatively early stages of adoption. The network has launched its mainnet and is actively onboarding developers and projects. While current usage metrics are modest, this is typical for new Layer 2 platforms.
Development Activity
The project maintains active development with regular github commits and technical updates. The team has demonstrated consistent progress in implementing their roadmap features.
Token Distribution
Mode's token distribution includes allocations for ecosystem development, team members, and early investors with standard vesting schedules to prevent immediate large-scale selling.
Crypto Impact
To assign a comfort level investing in Mode from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Mode.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.