FAQ - Mode Phase 2 with Intract
FAQ - Mode Phase 2 with Intract
A brief guide on the web3 quests by Intract in collaboration with mode network
What is Mode Network?
Mode is a cutting-edge Modular DeFi Layer 2 solution collaborating with Optimism to build the Superchain. It focuses on constructing on-chain economic systems, empowering developers to scale applications and offering users higher yields. Deploying on Mode is swift and seamless for those familiar with EVM chains. Detailed information can be found here.
What is Mode Phase 2?
Mode Phase 2 marks an integral on-chain event within the Mode Network, consisting of five distinct quests on Intract. Upon successful completion of these web3 quests, participants become eligible to claim the exclusive 'Mode Sentinel' NFT, serving as irrefutable on-chain proof. This initiative is part of Mode's broader strategy outlined in the Mode Sunrise Airdrop campaign. For an in-depth understanding, visit this link.
General FAQ
How can I add Mode Network to my metamask wallet?
Follow the instructions on chainlist.org to add Mode, connect your metamask wallet, and add the Mode network.
On-chain tasks already done before the Intract quest went live, will they be verified? What is the benefit of repeating on-chain action?
Users who have completed any on-chain tasks after Feb 01 2024 00:00:01 AM (+05:30 UTC) after the block 3279109, can get their transactions verified around 2:30 PM UTC 8th Feb. This also include tasks you’ve done either through other questing platforms.
Just make sure to keep in mind, we have a minimum $ cap for each task. Incase you have done a transaction which is below the cap, it won’t be verified and you’d have to do it again.
Repeating onchain transactions get you more mode points as part of the Mode Sunrise Airdrop campaign, thus increasing your chances to get more Mode tokens on TGE.
Do I have to bridge $30 exactly?
Yes, the bridging amount should be precisely $30, post-slippage, and exclusive of gas fees. For example, if $30 is 0.0125 ETH at the current market price, bridge this exact amount, and gas fees must be covered separately by the user.
What is this $7000 reward pool? How many people will win from the $7000 reward pool?
The $7000 reward pool is intended to offset gas fees incurred while bridging to Mode and trying out other dApps. Not everyone can win, but everyone is eligible to participate in the draw.
Reward breakdown for each campaign:
Bridge to Mode campaign: $3000, $30 per user for 100 people
Mint your Mode Domain: $1000, $10 per user for 100 people
Explore Kim Exchange: $1000, $10 per user for 100 people
Explore Standard on Mode: $1000, $10 per user for 100 people
Explore Ionic on Mode: $1000, $10 per user for 100 people.
How will I know if I won from the $7000 reward pool?
Once you complete all tasks of a campaign, you can click on 'open now' and instantly know if you've won or not. If you've won, you can claim it right away.
I did a quest on other platforms, why should I do this quest again?
If you completed quests on other platforms, you can verify your old transactions and mint the Sentinel NFT, which holds future perks and benefits. Additionally, you can earn Intract XPs and recover gas fees by completing this quest.
Should the swap value be post slippage?
Yes, the swap value has to be post-slippage. It is advisable to swap at least $1-2 extra to be on the safe side.
Should the LP value be held during the entire quest duration?
No, once your task is verified, you can remove your LP as per your direction. The more on-chain tasks you complete, the more Mode points you can earn.
Do I need to keep my positions open for market & limit orders?
For limit orders: Once you’ve placed the order, and the task gets verified, irrespective of it getting filled or not, you can remove the position.
For Market order: Market orders get placed instantly. Please refer to the provided documentation links below for how it works on the standard protocol.
Do I need to lend or borrow on Ionic, or just supply liquidity? Do I need to hold my position during the entire quest to verify?
At the moment, you can only supply into Ionic. Once you've supplied and your task is verified, you can remove your assets. Note that there are also Ionic points in progress.
What's the purpose of the Mode Sentinel NFT?
The Mode Sentinel NFT acts as on-chain proof of participation for the Phase 2 campaign on Intract. Holders of the NFT will receive future perks and benefits from Mode.
For more details on each protocol, refer below:
Mint your Mode Domain:
For comprehensive information on Ionic, the platform associated with minting Mode Domains, refer to the documentation provided here.
Explore Kim Exchange:
Explore the functionalities of Kim Exchange, a pivotal element of Mode Phase 2, by delving into the details available here.
Explore Standard on Mode:
Gain insights into the workings of Standard on Mode by referring to the documentation here.
Explore Ionic on Mode:
Uncover the intricacies of utilizing Ionic on Mode through the comprehensive documentation accessible here.
