It’s not even Christmas yet but there are still, somehow, plenty of gifts for the Kim community. Jesus would be proud.
Forget about points for a quick minute, as enticing as they are, as Kim brings you something much more established, tangible, and liquid.
ETH. For all. Powered by Mode’s Sequencer Fee Sharing mechanism.
What is Sequencer Fee Sharing?
The non-technical jargon explanation is this:
Users pay fees to yeet memecoins and do transactions on Mode
Fees go to super special technology thing (sequencer)
Those fees go back to the projects building on Mode (relevant to how many transactions on the protocol they have produced).
THEN
Projects can either:
Keep all the sequencer fees, buy the founders lambos, and drink the night away.OR
Align with the ethos of Web3, redistribute the fees to those who produced them (users), and create a feedback loop that grows both usage and rewards.
At Kim we really wanted lambos but, instead, we’re going with option B.
Kim’s (large) cut of Mode’s Sequencer Fee Sharing mechanism will be headed straight back where it belongs - in the hands of users, traders, and LPers.
Get to the Point - HOW MUCH?!
In the month of February alone, Kim earned 13 ETH in sequencer fees. Check out our post on it here.
As usage grows, so will the amount of ETH earned, thus creating this loop:
Sequencer fees incentivise usage -> usage increases -> sequencer fees increase -> incentives increase
Ad nauseum
WEN WEN WEN?
It’s already begun. The ETH <> USDC & ETH <> MBTC pools have been further incentivised with additional ETH from the sequencer fees, our lottery is powered by sequencer fees, and you should expect more in the coming days and weeks.
Fin. Remilio. Kim Out.
Adios amigos, sayonara frens, don’t forget to join Discord and follow us on X/Twitter.