Tren Joins Forces with Mode Network Through the Yield Accelerator

Tren Finance has been exploring Layer 2 solutions that align with our commitment to providing our users with minimal gas fees and fast transaction speeds. In our search, MODE network emerged as a standout with its impressive $743 million in Total Value Locked (TVL) achieved in just three months. Today we are happy to announce that we will be joining the Mode Yield Accelerator Program.

Building a DeFi protocol in 2024 involves navigating a complex set of challenges. Launching a great DeFi protocol does not just require innovative technology but also insights into market behavior, user needs and potential risks. Lets take a look at some of the aspects that make building a reliable protocol both challenging and rewarding:

The DeFi ecosystem lives on Ethereum. However, as most people know, high gas fees are a real buzz kill when it comes to user experience and profitability.

Layer 2 solutions are crucial for reducing high gas costs. Low-cost transactions are particularly beneficial for complex features, like asset leveraging, which often involve gas-intensive transactions. This is especially important for Tren since the ability to process transactions that involve advanced smart contracts quickly and affordably is crucial to user satisfaction and the utility of the protocol.

The crypto industry as a whole is rapidly reaching new levels of competitiveness, with new projects launching daily. We all have 24 hours in a day, and thus are operating on limited resources when it comes to time and attention. Getting people to find out about your project, use the product, and then talk about it is an increasingly growing mountain of a challenge.

Liquidity ensures that users can easily buy, sell, or trade $trenUSD and $TREN without significantly impacting its price. A robust liquidity pool enhances user experience, facilitates efficient price discovery, reduces volatility, and enables users to enter and exit positions quickly. Liquidity will also help substantially in establishing Tren as a household DeFi protocol. Moreover, liquidity attracts traders, investors, and developers, further contributing to the protocol's security and growth.

Making Tren secure is something we don’t take lightly. Our first line of defense is securing top-tier developers with a wealth of experience. Security audits are also vital for identifying and mitigating vulnerabilities, ideally from multiple auditors. Hiring experienced developers and doing multiple security audits with top auditing companies, simply put, is very costly but it's a price we're more than ready to pay.

As Tren gears up for mainnet launch, we are happy to have Mode Network as an ally. This collaboration will enhance our capabilities, streamline our operations, and expand our reach within the DeFi ecosystem. Mode's support and innovative solutions provides Tren with the tools and resources necessary to navigate the challenges of launching and scaling a cutting-edge DeFi protocol.

Mode Network offers a significant reduction in gas fees, up to 95% less that those on Ethereum as they are using Optimism’s Bedrock upgrade. Bedrock introduces a modular architecture that divides the operational stack into 3 components: Consensus, Execution and Settlement. This structure helps to simplify the transaction process while also enhancing overall network efficiency.

By optimizing these components, Mode achieves remarkable performance improvements in transaction costs, throughput, and sync speeds. For example, Mode features an average block time of just 2.0 seconds, compared to Ethereum’s 12 seconds, making transactions faster and more cost-effective.

Despite only having spent a few months on mainnet, Mode has acquired over 540,000+ on-chain wallets. They’ve made a splash on X with over 290,000 followers, and the word has been spreading around town. Planned co-marketing activities together with Mode will allow Tren to fast track the building of our own community of interested project followers and enthusiastic protocol users.

The Yield Accelerator also gives Tren access to funding and grants, allowing us to pad our marketing budget for exciting initiatives, as well as direct incentives to pass onto early users.

Furthermore Tren benefits from a share of sequencer fees through Mode's "Fee Sharing Contract." This arrangement helps to offset costs and directly incentivizes the creation of high-frequency, high-volume applications, enhancing our ability to develop and sustain an active user base. Enhanced by incentives such as Devdrops, these mechanisms collectively support our strategy to boost community involvement and platform growth.

By aligning with Mode’s initiatives that focus on users and developers, Tren can effectively reinvest these rewards back into the community, aiding in user acquisition and boosting our overall community growth.

By taking part in the Yield Accelerator Program, Tren is able to improve liquidity substantially. With Mode providing up to $10 million in funding for the projects that are apart of the program, Mode helps inject substantial financial resources that we can utilize to bolster the liquidity of our token pools.

Our partnership with Mode also allows us to introduce unique community incentive programs. These initiatives are designed to reward users for contributing liquidity beyond the standard trading fees generated from liquidity pools. By offering these extra incentives, we aim to deepen our liquidity pools and engage our community more actively, making liquidity provision a more attractive and rewarding endeavor. Stay tuned for more information on this.

Mode also assists in boosting the Tren security framework by providing essential resources and expertise. Among these we will be making use of the credits from Mode’s technology partners such as Goldsky, Pyth and Thirdweb, which supply tools and services that will enhance our operational and infrastructural capabilities.

Mode Network will also be providing us assistance in mitigating one of the most significant barriers for an emerging protocol, the high costs that are associated with security audits. By offering subsidised audits, Tren will be able to ensure that our smart contracts are secure and free from vulnerabilities, making sure that our user’s assets are safe on Tren.

In addition to the financial and technical support, Mode offers Yield Accelerator members a mentorship program where we look to gain invaluable insights from seasoned professionals across the industry, including mentors from: EigenLayer, Optimism, EtherFi, Renzo, Circle, Velodrome, Olympus, Pyth and more.

Joining the Mode ecosystem offers Tren significant advantages that extend beyond addressing our immediate challenges. Our integration facilitates engagement with other innovative projects, enhancing our exposure and opening doors for collaboration. Aside from what’s already been covered, Mode also offers:

• Direct Communication with Mode's Core Team: This allows us to resolve technical or strategic issues quickly, making sure we remain aligned with ecosystem developments and can leverage collective expertise effectively.

• Co-marketing Initiatives: Partnering on marketing efforts will significantly increase our visibility, helping us reach a broader audience and strengthen our brand presence.

• Strategic Partnerships: Engaging with other projects within the Mode ecosystem can lead to synergistic partnerships, enhancing our platform’s functionalities and expanding our reach.

Since launching in February, Mode has rapidly emerged as a leader in the Layer 2 space. With a TVL of $743 million, 550,000+ wallets, and more than 25 million transactions, they have positioned themselves as a prime hub for DeFi protocols. Mode's contributions to the ecosystem have been recognized by the Optimism Foundation, which awarded them a grant of 2 million OP tokens, valued at approximately $5.4 million today. This grant will support Mode's ongoing growth and its contributions to the Optimism Superchain.

As we integrate with an ecosystem of like-minded builders on Mode, we are excited about the synergies that lie ahead. For those eager to be a part of our journey, obtaining a testnet code is your ticket to become an early user. Users who secure an invite code will receive a 2x multiplier on all points once we transition to mainnet.

Tren Finance will officially launch mainnet on Mode after the testnet phase concludes. Stay connected by following Tren’s social media channels to receive the latest updates and information about our launch and ongoing developments.

We look forward to welcoming you to Tren Finance.

Tren Finance is a CDP protocol designed to provide liquidity for various types of assets. Our team comprises of core contributors from various successful DeFi projects, boasting a combined TVL surpassing $1 billion. Drawing insights from our experiences at Venom, MakerDAO, Ajna, Parity Technologies, Parallel Finance, Casper Labs, and more, we bring a wealth of knowledge to the table.

We are excited to unveil numerous use cases for users interested in exploring leveraged staking, restaking and farming opportunities.

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