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  1. $MODE

Mode Points Design

Mode points calculations

Mode Incentive Design

Introduction

Mode Points serve as a metric to acknowledge and reward early participants in the Mode ecosystem. These points encapsulate a range of activities, including assets on Mode, interacting with applications within the ecosystem, historical engagement across other blockchain networks, and more.

The points formula can be extracted into three terms:

Pu=PR+PE+PVP_u = P_{R} + P_{E} + P_{V}Pu​=PR​+PE​+PV​

represents the Mode Reward Points user u u u earns during the Mode Sunrise period. There are three ways users can earn points:

  • Referral Points (PRP_{R}PR​)

  • Ecosystem Points (PEP_{E}PE​)

  • Veteran Points (PVP_{V}PV​).

In the following section, we explain each part of formula.

Referral Points

Referral Points incentivizes cooperative onboarding activities. These points are calculated by the formula:

PR=  mRP⋅αRPu,tP_{R} = \;m_{RP}\cdot \alpha RP_{u,t}PR​=mRP​⋅αRPu,t​

where RPu,tRP_{u,t}RPu,t​ is the total referral points earned by user uuu at time ttt, multiplied by a share multiplier α\alphaα and referral multiplier mRPm_{RP}mRP​.

To obtain the total referral points earned by user uuu, we sum over eligible points Pr~\tilde{P_{r}}Pr​~​ generated by rrr wallets that have activated user uuu's referral code.

RPu,t=ÎĢr∈RuPr~RP_{u,t} = \Sigma_{r \in R_u} \tilde{P_{r}}RPu,t​=ÎĢr∈Ru​​Pr​~​

Eligible points Pr~\tilde{P_{r}}Pr​~​ are points generated through on-chain wallet activities and do not include referral points so to prevent second-order referral effects.

The share multiplier α\alphaα and referral multiplier wRPw_{RP}wRP​ are optimized throughout the program.

Ecosystem Points

Ecosystem points incentivizes asset onboarding to Mode, along with user activity across various ecosystem protocols at launch. It is calculated by:

PE=âˆŦ0T(mAoM⋅AoMt+mTVL⋅TVLt+mFees⋅Feest)  dtP_{E} = \int_{0}^{T} (m_{AoM} \cdot AoM_t + m_{TVL} \cdot TVL_t + m_{Fees} \cdot Fees_t) \; dtPE​=âˆŦ0T​(mAoM​⋅AoMt​+mTVL​⋅TVLt​+mFees​⋅Feest​)dt

where AoMtAoM_tAoMt​ is the amount of total Assets on Mode, TVLtTVL_tTVLt​ is Total Value Locked in ecosystem dapps, and FeestFees_tFeest​ is sequencer fees spent, aggregated across time.

The multipliers mAoMm_{AoM}mAoM​, mTVLm_{TVL}mTVL​, and mFeesm_{Fees}mFees​ will be optimized throughout the program to promote sustainable growth of the Mode ecosystem.

Veteran Points

Veteran Points PVP_{V}PV​ provides additional points to users who have demonstrated notable activity across Ethereum, Optimism, or Base in the past, inviting active blockchain participants to join the Mode network.

Last updated 1 year ago

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