Well basically what a mod is....
FYI mod=moderator
A moderator/mod can approve or disapprove images on a certain stream
If you see a black or gray “M” next to someone’s name on a stream that means they are a mod only on that stream
If you see a green “M” next to someone’s name then they are a community mod a community mod has approval on the “fun” stream, or the main stream of Imgflip.
If you see a purple “M” next to someone’s name, they are a global mod, global mods can ban accounts have control over adding new things to Imgflip and of course have approval of the fun stream.
Now.......
The person who has the most power of all is the founder of Imgflip Dylan Wenzlau he can no joke do anything on Imgflip.
-you have to be invited to mod a stream
-only owners of a stream like me on this stream can add moderators
-owners of a stream can ALSO get rid of mods on their stream
I hope that answered your questions ;)