TLDR: MODE staking v1.2 with 200,000 in OP rewards is going live at 4pm UTC on Thursday May 16th. Users can view the OP APR for staking $MODE in addition to the universal points boost on their Mode dashboard at https://app.mode.network/early/.
As part of our mission to grow DeFi within Optimism’s Superchain we are evolving Mode Staking by adding OP incentives. These OP incentives will enable Mode users to further contribute to growing Mode and the Superchain.
OP Incentives Overview
The program will initially run for 10 weeks starting on May 16th at 4pm UTC with 20,000 OP available each week. MODE stakers can get a share of the 20,000 OP tokens available each week based on the amount and duration their $MODE is staked.
Users will be able to see the estimated APR in the MODE Staking section of the Mode Dashboard.
How does staking work?
Users can stake $MODE tokens by visiting the staking section of the Mode Dashboard at https://app.mode.network/early/
On this dashboard users will be able to see the estimated APR for staking their $MODE tokens which will be claimable in OP tokens.
The OP a user gets from staking their $MODE will is claimable every 7 days on Optimism’s OP Mainnet. The contract to claim staking rewards on OP mainnet is available on the Mode dashboard and will be live in 7 days. (please be vigilant and only claim OP from this module).
FAQ
When can users start staking?
Users can start staking $MODE now and OP rewards will be claimable every 7 days on OP Mainnet.
Can users stake and unstake $MODE?
Yes, users can stake and unstake easily via the Mode dashboard. Please note there is a 7 day cooldown period when unstaking assets.
If i’m already staking $MODE do I need to do anything to get the OP rewards?
No, if you are already staking $Mode you are earning the OP rewards. You will need to claim the OP rewards.
Why do users get OP on OP mainnet?
Users will receive OP on OP mainnet as this is the main chain for the OP token. Mode is a key member of Optimism’s Superchain and has been given a grant by OP which Mode aims to use to incentivise the community.