Mode, a Layer 2 network developed on the OP Stack, is set to initiate airdrop claims of its governance token at 7 a.m. ET today.

In this initial phase, Mode will distribute 550 million Mode tokens — representing 5.5% of its total supply of 10 billion tokens.

The distribution is designed to be based on the Mode points held by users, which were initially allocated during the “Mode Sunrise” event in January — based on users’ past activities across various DeFi applications, NFTs, and other Layer 2 networks.

Soon after the claims open, the Mode token is expected to be listed on various decentralized and centralized exchanges for trading.

Following the initial phase, Mode plans to continue its token distribution with a second phase spanning from May 5 to September 6, during which an …