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MODE is really underrated after a rough start.

DeFi Voyager

DeFi Voyager

The Mode Network TGE was poorly handled.

Bybit acted as a makeshift market maker by delaying token deposits, which held back a lot of sales. Now, with most big sellers done, let's see where we stand.

Comparing Market Cap & TVL of Mode Network with competitors:

  • $MODE: $65M MC, $460M TVL

  • $MANTA: $425M MC, $173M TVL

  • $APTOS: $3768M MC, $346M TVL

  • $NEAR: $7997M MC, $327M TVL

  • $MANTLE: $3393M MC, $277M TVL

  • $TON: $21984M MC, $233M TVL

Despite a bad TGE, Mode is undervalued. It's notable that MODE already has utility - using chain projects and staking MODE gives a multiplier for season two drops.

Projects on Mode Network may also give airdrops to MODE stakers. Soon, staking MODE will let you earn a share of blockchain fees.

In conclusion, the poorly executed TGE has led to Mode being significantly undervalued.

MODE is really underrated after a rough start.