Context

Mode is an EVM-compatible L2 network powered by the OP Stack, in collaboration with Optimism, aiming to be a DeFi hub within the Optimism ecosystem. It features low transaction fees and incentives for developers.

Mode seeks to draw both web3 developers and users with its innovative economic model that rewards on-chain activities. This strategy has quickly garnered a substantial user base and total value locked, marking its fast-growing presence in the DeFi space.

Proposal

Integrate the Mode L2 network into the Symbiosis protocol. This integration aims to leverage the advantages of Mode to enhance the overall efficiency and user experience within the Symbiosis ecosystem. The integration includes the following:

• The stablecoin on Mode to operate will be USDC.
• Incorporate support for the new blockchain within the Symbiosis protocol. This entails adding the new stablecoin and WETH token to the Symbiosis AMM DEX on the host chain. Concurrently, the Symbiosis relayer network should begin interfacing with the newly integrated blockchain.
• Deploy and tune Symbiosis contracts on Mode.
• Implement on-chain routing via existing AMM DEXes on Mode.

Key points

• Mode is a new network and its growth attracts users and developers. By facilitating the transfer of funds onto its network, the Symbiosis protocol not only extends its utility, fueling further growth.
• As an L2 EVM chain, the Mode network can be seamlessly integrated into the Symbiosis protocol.