The Mode Cooperative: Join our first SocialFi Experiment on friend.tech!

**If you want to be among the early adopters of the Mode Cooperative experiment on friend.tech, make sure not to miss the Twitter/X Space event on Mode’s official account, scheduled for Thursday, October 26th, at 2.30 pm UTC. Our exact launch time on friend.tech will be mentioned in the Space.**

We are excited to launch our first cooperation experiment with you all. As always, early bird, something something.

One of the reasons we’re building Mode is the belief that working together leads to better outcomes. This belief drives everything we do, from fee-sharing at the protocol level to growth experiments to benefit all participants. As part of this drive to build a community based on cooperation and collaboration, we are going to launch a variety of different experiments to inform our own development.

With this in mind, we’re excited to unveil experiment #1 on friend.tech. Our goal is to test our theories around cooperation with the Mode and friend.tech communities and reward community members who contribute to the growth of Mode.

What’s in it for you? Mode is joining friend.tech

You Buy, We Buy:

• Mode is deploying 50 ETH in support of the experiment. Mode will buy the keys of the first Mode key buyers up to a maximum of 0.5 ETH per key (sorry FT whales!). Mode will buy all keys until the 50 ETH is deployed. This should allow us to purchase 100+ keys

Becoming a Key Holder:

• By actively participating in this experiment, you’ll become part of an elite tight-knit group of Mode key holders. You’ll get first access to certain information over time and substantial other benefits (keep reading).

Foundational Member NFTs:

• As a key holder, you'll receive a Foundational Member NFT. The more keys you hold, the more NFTs you'll receive. This will be a rare item.

• These NFTs come in four tiers, linked to the number of key holders. The more holders there are, the higher-tier NFT every single friend.tech key holder will receive: Bronze (50+ holders), Silver (85+ holders), Gold (120 holders+), Diamond (155+ holders).

• Once a tier is reached, it's set in stone forever, regardless of future key holder numbers. e.g. if we reach 155 holders, but then drop to 100 holders. All 100 holders will receive a Diamond-level NFT.

• These NFTs will only be issued to continuous key holders. More info on Dumper Penalties below.

friend.tech Fees Split

• 50% of fees generated on friend.tech will be used to buy Mode keys (3,3), strengthening the community, while the remaining 40% will be distributed in a bi-weekly lottery among key holders. 10% will be reserved for future growth experiments.

friend.tech Airdrop:

• If friend.tech decides to do an airdrop, 100% of it will go directly to key holders. Split equally per key.

Exclusive Team Chat:

• Key holders get alpha access to news about Mode, additional incentives, and other exclusive benefits, helping you to stay ahead.

The Lottery:

• Every two weeks, Mode will hold a lottery among key holders, each key equals one ticket. 40% of friend.tech fees are on offer. Three winners will be chosen. The prize pool will be divided as follows: the 1st winner receives 50% of the fee pool, the 2nd winner gets 35%, and the 3rd winner receives 15%. For example, if Mode generates 50 ETH in fees over two weeks, 20 ETH will be allocated to the lottery prize pool, distributed as mentioned.

• The lottery winners will be chosen through a random number generator and announced publicly on Mode’s social media channels.

IMPORTANT Dumper Penalties:

• At the launch of this initiative, there will be a 48-hour grace period where buying or selling Mode keys is free from penalties for future benefits. After this initial period, a penalty system will be introduced. Daily snapshots of key holders will be taken, and if you sell a Mode key, you won't be eligible for any of the future benefits like participating in the lottery or receiving Mode Foundational NFTs. This is about cooperation.

Don't Miss the Launch:

If you want to be among the early adopters of the Mode Cooperative experiment on friend.tech, make sure not to miss the Twitter/X Space event on Mode’s official account, scheduled for Thursday, October 26th, at 2.30 pm UTC. Our exact launch time on friend.tech will be mentioned in the Space.

We are excited to launch our first cooperation experiment with you all. As always, early bird, something something.