MegaETH’s MEGA token went live on Thursday after the Ethereum scaling project completed a seven-day launch countdown.
Summary
- MegaETH launched MEGA after 10 ecosystem apps met the first KPI target.
- MEGA’s token model ties 53.3% of supply to performance-based rewards.
- USDM supply rose above $300 million during the MEGA token launch period.
The token started trading on major exchanges after the network met its first ecosystem milestone. MegaETH confirmed the launch in a post on X, saying, “MEGA — Now Trading.” The team said all tokens would be distributed to users by 7 a.m. ET.
The token generation event started after MegaETH met its first key performance target. The project had said it would only launch MEGA after showing enough real onchain activity.
MegaETH meets first launch milestone
MegaETH said 10 “Mega Mafia” apps had gone live before the launch. These apps cleared the first KPI threshold required to trigger the final countdown.
The milestone focused on apps with real user activity linked to USDM, the protocol’s native stablecoin. USDM was co-developed with Ethena.
In addition, MegaETH has a fixed supply of 10 billion MEGA tokens. The project has tied 53.3% of total supply to performance-based staking rewards.
This structure differs from a standard time-based vesting model. MegaETH uses KPI-linked targets to release a large share of future token supply.
Major exchanges list MEGA
Trading opened across several exchanges after the token generation event. Binance said it would list MEGA for spot trading at 11:00 UTC with a seed tag.
KuCoin and Bitget also announced MEGA spot trading from the same start time. Other platforms have shared listing plans as well.
MegaETH is designed as a high-performance Ethereum scaling network for real-time onchain apps. Its native USDM supply was about $62.9 million last week.
That figure has since grown to over $300 million during the MEGA launch period. MegaETH co-founder Namik Muduroglu described the launch period as “very intense.”
The MegaETH Foundation has said it plans to use USDM revenue to accumulate MEGA tokens. This links network use, stablecoin activity, and token demand.
