Mode

Fede from Mode Network: I studied software engineering and worked at JP Morgan as a software engineer for a few years. I also actively participate in the crypto LATAM community helping with events of all sorts, giving talks, mentoring at hackathons, etc. I've been in crypto since 2017 and in 2022 I quit my job to dedicate 100% to web3.

The thing that attracted me the most to web3 is the opportunity it brings for financial inclusion. The permissionless aspect of decentralization is key to inclusion. Another thing that attracted me to web3 is how easy it is to monetize ideas that were not profitable before. Now with things like Mode, you can deploy a dApp and start earning revenue for the users you bring to the network. If you help an ecosystem grow and bring users to it, you deserve part of the earnings of that traffic.

Lastly, the people. A lot of smart and proactive people I've met have rotated from tradfi to web3. I love being around these kinds of people because you learn so much and amazing things can come out of a room filled with web3 native people. You'll find doctors, vets, traders, finance people, marketing, product, anything you can think of! The backgrounds in web3 are super diverse and spread all around the world.

DevRel or developer relationships is a role where your main responsibility is to build a community of developers and enable them to build with a certain product. Being a DevRel at Mode, for example, means that I write documentation, plan strategies, hackathons, sponsorships, partnerships, etc. All of these things need to be done thinking about helping developers build on Mode. We improve DevX (Developer experience) so devs can have a really nice experience when building with Mode.

I love being able to attend events, help other people, and actually work with the product. The challenges we face in devrel mainly relate to metrics but also there are some challenges due to devrel not being very well defined. There are a lot of activities we should do, but time is limited. So it's important to state a clear plan for short/medium/long term and set expectations. I think DevRel is critical for web3 adoption in the developer ecosystem.

The team behind Mode has worked across the largest ecosystems in web3. We believe that an L2 should exist that takes a growth-first approach to building products and mechanisms to incentivize and reward developers, users, and protocols to scale the ecosystem.

Mode mainnet will ship with the following features:

- Contract Secured Revenue: Smart Contract developers will share fees that run through the contracts they deploy to the network.

- Referral Revenue: Any developer, user, or protocol that refers new developers, users, or protocols to the network will earn a share of transaction fee revenue.

- Project growth dashboard and tooling: Developers will have access to a project dashboard with key data on their applications and integrations to leading web3 growth tools to support them in scaling their community.

Yes! SFS or Sequencer Fee Sharing is designed based on Canto's CSR to allow developers who deploy smart contracts on Mode Network to earn a share of the network's sequencer revenue, which is generated from transaction fees.

Here's how the Sequencer Fee Sharing concept works:

1. Registration of Smart Contracts: Developers can register their smart contracts in the Fee Sharing Contract, which is deployed on the Mode Public Testnet. When a smart contract is registered, it mints a non-fungible token (NFT). This NFT represents the ownership of the registered smart contract and accrues rewards based on the transaction fees generated by that contract.

2. Calculation of Fee Shares: An off-chain component processes the transactions for each registered smart contract to calculate its share of the sequencer fees. These calculations are performed in two steps: first when a transaction is made and second after the transaction has been sequenced.

3. Distribution of Fees: After the fee calculations are completed, the fees are distributed to the registered smart contracts within the Fee Sharing Contract. Developers can claim their share of the fees every 2 weeks in ETH (Ethereum's native cryptocurrency).

4. Enhanced Transparency: Users will have the ability to verify the Sequencer Fee Sharing calculations, ensuring that they receive the correct distribution for their contributions to the network. This transparency enhances trust and accountability within the ecosystem.

5. Predictable Revenue for Developers: SFS provides developers with predictable and recurring revenue from the smart contracts they deploy on the Mode Network. This steady income stream enables developers to reinvest in their applications and further develop their projects.

6. Network Effects: The transparent and guaranteed fee distribution model offered by SFS is expected to attract more developers to Mode Network. As more developers join and deploy applications, it is likely to stimulate network growth and create positive network effects.

Yeah! The idea is that we want to create a co-op ecosystem where builders and users are part of Mode. We think sharing the fees is just one of many mechanisms we are implementing to create this idea of a cooperative space 🙂 .

We will also have things like integrated dashboards for devs to get metrics of their smart contracts, a referral program, and lots of other interesting stuff 😄 .

Yeah, we are for general purposes. We do want a big DeFi ecosystem because the SFS and the reward models we have planned align very well with DeFi applications.

We are very interested in the gaming world, to be honest. Also, the SFS model and the values of Mode align very well with gamers. We want to make a creative ecosystem that allows games to earn revenue, maybe even without affecting users.

Well, we have a well-planned roadmap and are open to suggestions from the community. We are also aiming to transform Mode into a DAO and let the community drive the growth later on. We want to also actively participate in the OP governance supporting and will also be part of the Superchain. We are super excited for what's coming and we'll be around for a long time 🙂

We think every community has their priorities and different ways of interacting and doing things. We love diversity! Diversity is what drives innovation and teamwork when you foster a cooperative space.

Our idea is to try and support local communities and of course, we'll open several non-English channels and try to be involved locally in communities. I am myself from a non-English speaking country and I would love to bring Mode to whole Latam, Africa, Asia, Europe, etc.

We have plans coming that we'll release soon 👀 . We are web3 native and we don't mind where you are from. Our team has nationalities from all over the world and we are spread all around.

We will be very present in Istanbul and we are all excited to visit such a nice country like Turkey <3. All of us, including James (Mode's founder) will be in several events during devconnect to share all the cool things we have planned 😄