Optimism Superchain’s L2 Mode Network Launches New Governance Model – Here’s Why

Mode Network, the Layer 2 (L2) chain powered by the Optimism OP stack, announced the launch of its new vote escrow and gauge-based model to “improve L2 governan

Mode Network, the Layer 2 (L2) chain powered by the Optimism OP stack, announced the launch of its new vote escrow and gauge-based model to “improve L2 governance.” The new framework, powered by Aragon, will upgrade the MODE staking module to foster network growth and incentive distribution in the ecosystem.

Mode Network To Implement New Model For L2 Governance

Mode, the modular Decentralized Finance (DeFi) L2 network building on the Optimism Superchain, revealed it would implement veMODE for its Season 3, starting October 17.  veMODE is a vote escrow (ve) model was built by Aragon to upgrade the network’s current staking module.

Mode’s new framework is a “tokenomics-first design” to foster incentive alignment. Therefore, It will aim to provide governance focused on staking but not locking tokens, protocol voting, and long-term growth.

The framework will apply “ve and gauges to a roll-up ecosystem” to introduce a “dynamic governance model that (…) reduces coordination overhead and drives …