Why Mode Network's investor deposits dropped 99% in one year
Its total value locked, or TVL — a metric for how much investor funds are in a blockchain or DeFi protocol — has fallen to just under $4 million, a 99% from its May 2024 peak, according to onchain data from DefiLlama.
The onchain data contradict Mode's own website, which still touts that it has more than $500 million in TVL and hundreds of thousands of users, which would make it a DeFi mammoth.
Mode Network didn't return several requests for comment.
The network's native token, Mode, has also declined massively, down more than 98% from its all-time high price from a year ago, according to DefiLlama.
Mercenary capital
Mode Network is an Ethereum layer 2 blockchain that aims to use artificial intelligence for DeFi applications.
Mode's TVL pumped last year amid its turbo-points airdrop campaign after securing a $5.3 million grant from Optimism, an Ethereum layer 2 blockchain, in January 2024. At its May 2024 peak, it boasted a $582 million TVL.
That period coincided with a hyped buzz for DeFi projects that offered similar rewards in exchange for liquidity provision.
But like other incentive-style growth campaigns in crypto, the liquidity bump that came Mode's rewards programme did not last long.
It's a familiar pattern.
DeFi projects juiced on token emissions alone enjoy sudden user volume and TVL spikes. But the growth is usually ephemeral, and they eventually flame out when the drip stops and they're unable to pivot to another growth strategy.
Berachain, a once-promising layer 1 blockchain, has lost more than $3 billion in investor funds since March amid a massive decline in yield-based incentives that drove user capital to other blockchains.
Even with more than 50 DeFi projects on the blockchain, Mode is now a user engagement desert with hardly any onchain revenue being generated.
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@dlnews.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 hours ago
- Yahoo
Dogecoin, XRP Lead Altcoins as Bitcoin Dominance Falls
XRP and Dogecoin led altcoins higher on Friday as Bitcoin's dominance fell to a 12-day low. The Ripple-linked token was recently changing hands around $3.29, a 7.5% jump over the past day, according to crypto data provider CoinGecko. Dogecoin meanwhile jumped 6.2% to $0.22, while Ethereum's price eclipsed the $4,000 mark for the first time since December. Bitcoin's market cap accounted for 57.8% of the crypto market on Friday, down from 61.3% a week ago, according to CoinGecko. Within the past three months, Bitcoin has accounted for as much as 65% of the $3.9 trillion crypto sector—and as little as 57.07%. With each market cycle in Bitcoin's existence, altcoins have experienced a sustained period of outperformance after asset's price peaked, often referred to as an altcoin season. That could happen again, but it likely not to the same degree, Gerry O'Shea, head of global markets insights at crypto asset manager Hashdex, told Decrypt, pointing to structural market changes as a result of exchange-traded funds in the U.S. and corporate buying. 'You have these institutional buyers that are kind of backstopping it at this point,' he said. 'That's not to suggest that we're not going to see a fair amount of volatility with Bitcoin going forward, but I do think it's going to be a lot different than what we've seen in previous cycles.' Previous altcoins seasons have been marked by speculative investments like NFTs, meme coins, or ICOs, but O'Shea said investors could gravitate with projects that put utility front and center because of regulatory progress in the U.S. and the passage of stablecoin legislation. 'Ethereum [and] Solana, the smart contract platforms that provide infrastructure for stablecoins, are obviously demonstrating utility here,' he said. 'I think that could certainly be contributing to Bitcoin's falling dominance.' On Friday, the leading cryptocurrency by market capitalization hovered around $116,000, a 0.1% increase over the past day. And its price was up 96% over the past year. In a Myriad Linea Markets prediction table, nearly two in three participants predict that Ethereum will reach $5,000 by year's end. (Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.) CrediX Team Vanishes as Stability DAO Preps 'Legal Report' The Bitcoin market, in recent weeks, has proved resilient. The asset's price dipped as low as $112,000 last month, despite institutional crypto firm Galaxy Digital executing a $9 billion Bitcoin sale on behalf of a single, Satoshi-era investor. During the company's second-quarter earnings call, Galaxy CEO Mike Novogratz remarked with relief that the sale just happened to take place as Bitcoin-buying firms like Strategy, formerly MicroStrategy, were hoovering up the asset. Bitcoin's falling dominance 'may persist for a while,' but ultimately, 'the tailwinds for Bitcoin just remain incredibly strong, mostly because of the institutional adoption of the asset,' O'Shea said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time Business News
6 hours ago
- Time Business News
How Electronics Contract Manufacturer Partnerships Power Mission-Critical Applications: An Inside Look at Contract Manufacturing
In today's rapidly evolving technology landscape, over 70% of electronics companies rely on specialized partners to bring their products to market efficiently and cost-effectively. Electronics contract manufacturing has become the backbone of modern innovation, enabling everything from life-saving medical devices to mission-critical aerospace systems. Whether you're an engineering professional evaluating manufacturing options or a decision-maker exploring cost optimization strategies, understanding the intricacies of contract manufacturing can significantly impact your project's success. This comprehensive guide explores how electronics contract manufacturer partnerships work, what makes them essential for today's competitive markets, and how to leverage these relationships for maximum project success. The Basics: What is Electronics Contract Manufacturing? Electronics contract manufacturing represents a strategic partnership where specialized facilities handle the production, assembly, and testing of electronic products on behalf of original equipment manufacturers (OEMs). Think of it as having access to a fully equipped electronics factory without the massive capital investment—complete with engineering expertise, quality systems, and production capabilities. At its core, an electronics contract manufacturer serves as an extension of your engineering team. These partners bring together advanced manufacturing equipment, skilled technicians, and proven processes to transform your designs into finished products. The relationship goes far beyond simple assembly work, encompassing everything from initial design support to final product delivery. Contract manufacturing services typically include custom cable assemblies, wire harness manufacturing, box build assemblies, and precision connector solutions. This comprehensive approach allows companies to focus on their core competencies—innovation and market development—while leveraging specialized manufacturing expertise. The Manufacturing Process Behind Contract Electronics Production Design and Engineering Collaboration The contract manufacturing process begins long before production starts. Leading electronics contract manufacturer partners provide engineering support during the design phase, helping optimize products for manufacturability while maintaining performance specifications. This collaborative approach identifies potential issues early, reducing costly redesigns and accelerating time-to-market. Engineering teams work closely with clients to review designs, recommend materials, and suggest manufacturing-friendly modifications. This partnership approach ensures that custom cable assemblies and other components meet both technical requirements and production realities. Dual-Facility Manufacturing Strategy Modern contract manufacturing often employs a dual-facility approach, combining domestic and offshore capabilities to optimize cost and delivery. US-based facilities handle prototyping, engineering changes, and time-sensitive production, while offshore operations manage high-volume manufacturing runs. This strategy provides several advantages: rapid prototyping capabilities, flexibility for engineering changes, cost optimization for large volumes, and reduced supply chain risks. The key lies in seamlessly integrating both facilities to maintain quality standards and communication throughout the production process. Advanced Assembly Processes Contract manufacturing encompasses various assembly approaches, each suited to different product requirements. Wire harness manufacturing involves precision routing, connector attachment, and comprehensive testing to ensure signal integrity. Box build assemblies integrate multiple components into complete systems, requiring careful planning and quality control at each stage. For specialized applications, turnkey manufacturing services provide complete solutions from component sourcing through final testing. This comprehensive approach streamlines vendor management while ensuring consistent quality across all assembly processes. Custom Solutions and Engineering Excellence Tailored Assembly Approaches Every electronic application presents unique challenges requiring customized solutions. Medical device applications demand biocompatible materials and FDA compliance, while aerospace systems require AS9100D certification and extreme reliability standards. Industrial applications focus on durability and harsh environment performance. Successful electronics contract manufacturer partnerships adapt their processes to meet these diverse requirements. Custom cable assembly solutions might incorporate specialized materials for high-temperature applications, while precision electronics manufacturing ensures consistent performance across thousands of units. Material Selection and Quality Standards Material selection significantly impacts product performance, especially in demanding applications. Contract manufacturers maintain extensive material libraries, including various conductor types, insulation materials, and connector options. This expertise helps optimize designs for specific environmental conditions and performance requirements. Quality standards vary by industry, but leading contract manufacturers maintain multiple certifications to serve diverse markets. ISO 9001 provides foundational quality management, while AS9100D addresses aerospace-specific requirements. ITAR compliance enables defense application support, ensuring comprehensive capability across critical industries. Quality Assurance and Industry Standards Certification and Compliance Framework Quality assurance in electronics contract manufacturing extends far beyond basic testing. Comprehensive quality systems encompass design controls, process validation, and continuous improvement protocols. These systems ensure consistent results whether producing single prototypes or thousands of production units. Industry certifications provide third-party validation of quality capabilities. ISO 9001 establishes fundamental quality management principles, while industry-specific standards like AS9100D address additional requirements for aerospace applications. Medical device manufacturing requires FDA compliance and biocompatibility testing protocols. Testing Protocols and Validation Rigorous testing protocols validate both individual components and complete assemblies. Cable assembly testing includes continuity verification, insulation resistance measurement, and environmental stress screening. Box build testing encompasses functional verification, burn-in protocols, and final system integration validation. Advanced testing capabilities often include automated test equipment for high-volume production, environmental testing chambers for temperature and humidity stress, vibration testing for mechanical durability, and electromagnetic compatibility verification for regulatory compliance. Industry Applications and Market Impact Aerospace and Defense Applications Aerospace cable assembly solutions demand exceptional reliability under extreme conditions. Temperature ranges from -55°C to +200°C, vibration resistance, and electromagnetic interference shielding represent standard requirements. Mission-critical applications require additional validation through accelerated life testing and failure mode analysis. Defense applications add security considerations through ITAR compliance and domestic manufacturing requirements. These projects often involve low-volume, high-complexity assemblies requiring extensive documentation and traceability protocols. Medical Device Manufacturing Medical device cable assemblies must meet stringent biocompatibility and sterilization requirements. Materials selection considers long-term implantation safety, while manufacturing processes ensure sterile packaging and handling. FDA compliance requires comprehensive design controls and change management protocols. Contract manufacturing for medical applications often involves specialized materials like biocompatible polymers, precious metal plating for corrosion resistance, and unique connector configurations for specific medical procedures. Industrial and Energy Applications Industrial applications emphasize durability and environmental resistance. Wire harness and cable assembly solutions for energy applications must withstand temperature extremes, chemical exposure, and mechanical stress. Renewable energy applications add requirements for UV resistance and long-term outdoor exposure. High-voltage applications require specialized insulation materials and safety protocols. Contract manufacturers serving these markets maintain expertise in high-voltage design principles and testing procedures. Partnership Approach and Future Trends Strategic Manufacturing Partnerships Successful contract manufacturing relationships extend beyond simple vendor arrangements to become strategic partnerships. These relationships involve shared engineering resources, joint problem-solving initiatives, and collaborative product development efforts. Long-term partnerships enable continuous improvement through process optimization, cost reduction initiatives, and technology advancement collaboration. Regular business reviews assess performance metrics, identify improvement opportunities, and align future capacity planning with customer growth projections. Emerging Technologies and Automation The future of electronics contract manufacturing involves increasing automation and advanced technologies. Automated wire processing equipment improves consistency and reduces labor costs, while robotic assembly systems handle complex box build requirements with precision and repeatability. Industry 4.0 technologies provide real-time production monitoring, predictive maintenance capabilities, and enhanced quality tracking. These advances enable greater efficiency, improved quality control, and reduced production costs across all manufacturing processes. Market Evolution and Customer Collaboration Market trends toward miniaturization, increased functionality, and faster development cycles drive evolution in contract manufacturing capabilities. Customers increasingly value partners who provide comprehensive engineering support, rapid prototyping capabilities, and flexible production scaling. Geographic diversification continues expanding as companies seek supply chain resilience and cost optimization. Leading contract manufacturers develop global capabilities while maintaining local engineering support and customer service excellence. Conclusion Electronics contract manufacturing has evolved from simple assembly services to comprehensive partnerships that enable innovation and market success. Understanding the manufacturing process, quality requirements, and partnership benefits helps companies make informed decisions about their production strategies. The most successful projects combine technical expertise with strategic partnership approaches, leveraging specialized capabilities to achieve optimal results. As technology continues advancing and markets become increasingly competitive, these manufacturing partnerships will play even more critical roles in bringing innovative products to market efficiently and cost-effectively. For companies evaluating manufacturing options, the key lies in finding partners who understand your specific requirements, maintain appropriate certifications, and demonstrate commitment to long-term collaboration. The right electronics contract manufacturer becomes an extension of your team, contributing engineering expertise and manufacturing excellence to drive project success. TIME BUSINESS NEWS
New York Post
9 hours ago
- New York Post
Tipping in Las Vegas drops drastically — tourists say service doesn't match higher costs
Las Vegas servers say they're feeling the heat as high prices and declining tourism hammer their tip earnings across the Strip. Tipping in Sin City is reportedly down by as much as 50% among servers, as some of them blame the economy and policy while others point to high prices, a tipping backlash and poor service. Advertisement On Reddit's r/VegasLocals forum, one cocktail waitress wrote, 'I used to average about 80 cents a drink. Now I'm averaging about 10 cents.' 'We are working triple what we used to and making a quarter of what we did,' another person added on the forum. Jacob Soto, 22, a supervisor at Pinkbox Doughnuts in downtown Las Vegas, told The Wall Street Journal that he used to make up to $200 a week in credit card tips, but now only earns between $100 and $150. While the city saw an 11.3% drop in overall visitation in June compared to the same time last year, according to the Las Vegas Convention and Visitors Authority (LVCVA), international travel to Vegas is down approximately 10% year over year. Advertisement Ted Pappageorge, secretary-treasurer of the Culinary Workers Union, which represents 60,000 Vegas workers, said federal immigration and economic policies are keeping international travelers away. Servers in Las Vegas, Nevada, say they are not earning as much in tips due to rising prices and declining tourism to Sin City. MargJohnsonVA – 'The unions and the industry and the government need to get together and repair the damage and welcome tourism back,' he told Fox News Digital. Pappageorge called the tipped income tax exemption proposed in President Donald Trump's 'big, beautiful bill' a 'welcome relief.' Advertisement He pointed out, however, that if workers aren't 'making the tips, the credit doesn't help.' He said companies have already frozen hiring and made targeted staffing cuts, with part-time workers – who make up 25% of the union's membership – being the first to lose hours. 'If it continues, it could bleed into the full-timers,' he added. Some industry observers assert the problem is more local. Advertisement 'Many attribute this not only to a general dip in international travel demand to the U.S., but also to aggressive price-gouging by hospitality venues,' Rob DelliBovi, a consultant and founder of the Miami-based RDB Hospitality Group, told Fox News Digital. 'Guests are pushing back on $18 bottles of water in the minibar and $37 martinis.' Many people in the r/VegasLocals thread agree. Said one Redditor, 'Twenty-five-dollar drinks … $30 pancakes, $35 burgers … and on top of it you have to tip?' Tipping has gone down by as much as 50% as servers claim the economy and poor service are to blame for the dramatic dropoff. StockPhotoAstur – Added another person, 'Nobody wants to give you 20% on top of the already exorbitantly overpriced s—.' A beer recently cost nearly $15 at a casino, yet another person said. 'What that translates to is me drinking less beer and tipping less,' the person said. Advertisement 'I understand that casinos have costs, but this is absurd.' 'I'm tired of tipping for everything, as quality of service has consistently gone down,' another person wrote. One Vegas waitress, who requested anonymity out of fear of losing her job, also said she thinks the quality of service has declined. Advertisement 'For the price, it should be impeccable,' she told Fox News Digital. She said aggressive upselling tactics, repetitive restaurant concepts and a lack of genuine hospitality are turning off tourists and locals alike. As a result, she said she's also seen tip revenue decrease by half compared to last summer. The waitress said businesses on the Strip need to return to the basics of hospitality and focus on local clientele rather than only international customers. Advertisement 'The locals don't want to pay double for food that's not any better and for servers to be rude,' she said. Despite the downturn, Vegas has not lost its hustle yet, DelliBovi said. 'Sales teams in Las Vegas are already strategizing on how to reinvigorate the market and drive business back up for the fall,' he said. Advertisement Even as reports indicate Las Vegas tourism is down overall, Circa Resort & Casino CEO Derek Stevens recently told Fox News Digital the assessment may be 'premature.' 'In specific pockets, like where we at Circa Las Vegas are located in downtown — I think people feel there's maybe a little better value. Things were really booming,' Stevens said. He added, 'If you really start unpeeling some layers of the onion in Las Vegas, I think you're going to find companies that have very specific areas that are a little less subject to the economy and that are doing OK.'
