TechFlow News, the modular L2 network Mode has announced the launch of registration for the Mode Yield Accelerator, aimed at fostering local projects within the Mode ecosystem with a particular focus on yield and DeFi. The accelerator will run until the end of June 2024. Applications are due by April 21, 2024, at 8:00.
The accelerator welcomes applications from projects at various stages, including concept, prototype, testnet, and those preparing for mainnet launch. However, preferred candidates are projects with a working prototype up to near-mainnet release.
The Mode Yield Accelerator offers the following rewards and incentives:
-
$10 million in funding support from the Mode Angel Network.
-
A total prize pool of $100,000 USDC for winning teams in April, distributed across six categories.
-
Mode DevDrop 1 program, allocating 5% of the total token supply on a monthly basis according to various on-chain performance metrics such as Total Value Locked (TVL), transaction fees, trading volume, etc.
-
Participants will gain exposure and support from Mode ecosystem partners and professional mentors.
-
Through dedicated risk managers, participants will have direct communication channels with the core Mode team.
-
Mode DevDrop and Mode Airdrop programs will help projects attract users and capital.
-
Access to discounts with technical partners (Goldsky, Pyth, thirdweb, etc.), shared Sequencer fee arrangements, and smart contract audit subsidies via Optimism.
