PANews reported on August 5 that according to DL News, DefiLlama data shows that the total lock-up value (TVL) of the Ethereum Layer2 network Mode Network has plummeted by 99% from a peak of $582 million in May 2024 to approximately $4 million. The native token MODE of the network has fallen over 98% from its historical high. After receiving a $5.3 million grant from the Optimism Foundation in January 2024, Mode Network attracted a large amount of liquidity in a short period through airdrop incentive activities. However, as the incentives have decreased, its over 50 on-chain DeFi projects now generate almost no actual revenue. It is worth noting that the official website still shows a TVL of $500 million, which is severely inconsistent with the on-chain data.

ETH1,63%
MODE0,66%
OP2,93%
DEFI0,59%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)