MegaETH

Networks · Layer-2

MEGA#424

Mcap$50.90M

$0.04518.68%

· Public Token Sale

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MegaETH Project Update

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MEGA Token Public Sale Completed MegaETH's public sale of its native MEGA token concluded on October 30, 2025, marking the start of the initial allocation phase 1. The sale offered 500 million MEGA (5% of the 10 billion total supply) through an English Auction on the Sonar platform, with a ceiling price of $0.0999 per token and a starting fully diluted valuation of $1 million 2. This matters because MEGA will serve as the network's gas token, with future staking for network security, governance rights, and ecosystem incentives planned 12–18 months after mainnet deployment 3.

MEGA Tokenomics and Sequencer Design Revealed MegaETH formally introduced the MEGA token, detailing two core features: Sequencer Rotation, where one active sequencer rotates across global economic time zones (Tokyo, Netherlands, Northern Virginia, Los Angeles) with operators staking MEGA to compete for selection, and Proximity Markets, where MEGA is used to bid for sequencer-adjacent floorspace to minimize latency 4. A circulating whitepaper formatted to meet MiCA (the EU's Markets in Crypto-Assets regulatory framework) requirements confirmed a total supply of 10 billion MEGA, with 53.3% allocated to KPI staking rewards, 14.7% to VCs, 9.5% to team and advisors, and the remainder split across foundation reserves, the Echo round, the Sonar public sale, a Sonar bonus pool, and the Fluffle round 3.

Team Repurchases Pre-Seed Equity and Token Warrants Ahead of its mainnet and token launch, the MegaETH team repurchased 4.75% of its company equity and token warrants from undisclosed pre-seed investors 5. Co-founder Shuyao Kong stated the transaction was completed during the summer at a valuation above the company's previous seed round, when MegaETH raised $20 million at a "nine-figure" valuation 5. The move was framed as optimizing the ownership structure before going public 5.

Biggest Stories of 2025

GMX DAO approved a snapshot proposal to deploy GMX V2 on MegaETH as an isolated, "experimental environment" deployment, signaling growing DeFi integration ahead of launch (December 29, 2025) 6.
MegaETH mainnet went live for "builders," enabling application developers to deploy and test while users track progress through explorers and dashboards (December 19, 2025) 7.
The team decided to return all funds raised from the Pre-Deposit Bridge campaign due to "sloppy" execution, committing to reopen the USDC↔USDm conversion bridge ahead of Frontier mainnet to deepen liquidity (November 28, 2025) 8.
MegaETH shared its "Pre-Deposit Bridge Retro," outlining technical and coordination issues including a "SaleUUID mismatch," a misconfigured Sonar rate limit, and a cap increase that executed roughly 30 minutes early; the team reiterated that no funds were ever at risk (November 25, 2025) 9.
The pre-deposit bridge cap was increased to $1 billion in an effort to give users access to USDm on day one, after the original $250 million cap filled immediately (November 25, 2025) 10 11.
MegaETH announced a "pre-deposit" mainnet bridge launching November 25, accepting USDC on Ethereum with a $250 million total cap, converting deposits 1:1 to USDm on Mega mainnet at launch (November 20, 2025) 12 13.
MegaETH announced Frontier, the official release of Mainnet Beta, scheduled to run for one month beginning in early December, with selected partner applications onboarded during the beta period (November 18, 2025) 14 15.
"The Last Mile" article explained that real-time infrastructure represents the "Last Mile" in crypto adoption, framing MegaETH's thesis around latency as the final barrier to mainstream use (November 4, 2025) 16 17.
MegaETH's ICO raised $50 million in minutes, part of nearly $75 million raised from various grassroots funding efforts, with mainnet deployment expected before the end of 2025 (October 30, 2025) 18.
The MEGA token whitepaper surfaced, confirming MEGA as a gas token with staking, governance, and incentive utility, and stating the TGE would occur at least 40 days after the public sale concluded (October 23, 2025) 3.
MegaETH Labs formally introduced the MEGA token with its Sequencer Rotation and Proximity Markets design (October 23, 2025) 4.
Public sale details were released, scheduling a 72-hour English Auction beginning October 27, 2025, with a $2,650 minimum and $186,282 maximum bid per participant (October 22, 2025) 2.
The team repurchased 4.75% of company equity and token warrants from pre-seed investors ahead of the mainnet and token launch (October 17, 2025) 5.
MegaETH published "Your Dreams Don't Have to Die (Pt. 2)," introducing the "Mafia 2.0" concept and its A24-inspired ethos of curating distinct builders across DeFi, culture, and gaming (October 10, 2025) 19.
MegaETH addressed throughput and decentralization using stateless validation reinforced by Pi Squared's semantic validation (October 16, 2025) 16 19.
MegaETH partnered with Ethena to launch USDm to align network incentives and lower fees (September 8, 2025) 16 19.
MegaETH's testnet was live, demonstrating potential for 100,000 TPS and 10 ms block times, with early projects including thirdweb, RaribleFUN, XL, Showdown, Guess Best, and HashPin (June 23, 2025) 20.
MegaETH was profiled as an Ethereum-compatible Layer 2 delivering Web2-like speeds, backed by Vitalik Buterin and Dragonfly Capital, using parallel transaction processing, specialized sequencer nodes, and a hybrid rollup architecture secured via EigenDA (May 16, 2025) 21 22 23.
MegaETH Labs launched its public testnet and raised $30 million to support development of real-time applications like payments, trading, gaming, and lending (March 24, 2025) 24.