Bitget PoolX Announces Listing of MODE (MODE) - Chainwire

07May

Bitget PoolX Announces Listing of MODE (MODE)

Victoria, Seychelles, May 7th, 2024, Chainwire

Bitget, a leading cryptocurrency exchange and Web3 company, is thrilled to announce the listing of MODE (MODE) on its innovative stake-to-mine platform, PoolX. MODE, short for Modular DeFi L2, is a pioneering project backed by Optimism, aimed at revolutionizing decentralized finance (DeFi) on layer 2 solutions.

PoolX, Bitget’s latest offering, enables users to stake specific coins to potentially earn popular tokens. Each project on PoolX features one or more mining pools, with token rewards distributed hourly based on participants’ staking volume. With the addition of MODE to its portfolio, Bitget continues to expand its range of offerings, providing users with access to quality projects in the crypto space.

Mode‘s mission is to empower developers and users to build and participate in a thriving ecosystem of world-class applications while being directly rewarded for their contributions. As a Modular DeFi L2, Mode aims to build new on-chain economic systems that enable developers to scale their applications.

One of Mode’s key features is its ease of use for developers. If you have ever deployed to any Ethereum Virtual Machine (EVM) chain, you can deploy to Mode quickly and easily. Developers can build experimental DeFi applications on Mode, receiving hands-on support to scale their projects and earn predictable rewards through sequencer fee sharing and developer airdrops.

“We are excited to welcome MODE to the Bitget PoolX platform,” said Gracy Chen, Managing Director at Bitget. “MODE’s innovative approach to decentralized finance aligns perfectly with our mission to provide our users with access to cutting-edge projects. We look forward to the impact that MODE will bring to the DeFi ecosystem.”

At PoolX, hourly snapshots of staked amounts will be taken to ensure accurate calculations of users’ proportionate shares and rewards. Each mining pool on PoolX calculates its Annual Percentage Rate (APR) separately, providing users with diverse opportunities to maximize their token earnings. Furthermore, users enjoy the flexibility to redeem the staked tokens at any time, with staked assets automatically returning to their spot accounts after the mining period ends.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.