Analyzing the influence of Method crypto’s 550M token airdrop on rate and TVL

• Interesting news! Method kicked off its airdrop extravaganza on May 7th.
• You will find been a important transformation write-up-airdrop.

Method [MODE] switched gears to “Airdrop mode” on May 7th, generously distributing tens of millions of its tokens to deserving users.

Just before the airdrop, the Total Price Locked (TVL) of the network experienced a thrilling surge, and its investing quantity boomed on the day of the token giveaway.

Even so, put up-token launch, the price of the Mode token faced a downturn.

Be part of the Mode Crypto Airdrop Bash

Mark your calendars! Mode introduced an airdrop initiative on May possibly 7th, generously rewarding eligible users with 550 million tokens.

The allocation of tokens is primarily based on users’ Mode details gained through engagement with several DeFi applications, NFTs, and other Layer 2 networks.

This 550 million token giveaway will make up 5.5% of the full token provide of 10 billion tokens.

Moreover, according to the tokenomics shared by the workforce, 38% of the token provide is earmarked for buyers and core contributors.

The basis treasury will retain 27%, though the remaining 35% is set aside for community and developer airdrops.

TVL Skyrockets

Dive into the Method Total Benefit Locked (TVL) development on DefiLlama to witness an extraordinary upward trajectory because February.

The job captivated consideration in January following obtaining a generous grant of 2 million OP tokens really worth roughly $5.4 million from the Optimism Basis to bolster its improvement.

Method, created on the OP Stack, is a vital part of the Optimism Superchain ecosystem.

Source: DefiLlama

The TVL graph displayed a steady rise from February, with a apparent spike considering that May perhaps 1st. By May perhaps 5th, the TVL surpassed $500 million.

In spite of a subsequent dip, with TVL dropping to about $477 million all through assessment, the project’s buying and selling volume soared to nearly $24 million on the airdrop day.

Even with the recent TVL reduce, info from L2 Beats confirmed Manner retaining a person of the greatest TVLs amongst Layer 2 networks.

In accordance to L2 Beats findings, Manner ranked as the tenth biggest in TVL, representing more than 1.4% of the whole L2 industry cap.

Post-Airdrop Stage

Curious about the aftermath? AMBCrypto’s investigation revealed a considerable rate fall submit-airdrop. In the beginning valued at $.1, the token plummeted to all over $.055 by the stop of May 7th.

At present, it truly is investing at close to $.048, showcasing an over 11% decrease.