MegaETH Unveils Token Buyback and TGE Plan
MegaETH is set to launch its mainnet on February 9, contingent on meeting specific performance milestones. The token generation event (TGE) will occur only if one of three key performance indicators is achieved, emphasizing the project's focus on network activity and user engagement. The initiative also includes a token buyback plan funded by priority fees and yield from its stablecoin, USDM, indicating a strategic approach to enhance token value.
MegaETH, the real-time blockchain and Ethereum Layer 2, is launching its mainnet on Feb. 9, but the token generation event (TGE) will be dependent on network performance milestones.The MegaLabs team has defined three key performance indicators (KPIs), and at least one of these must be met for the TGE to proceed. The chain must either establish a baseline of $500 million in USDM circulating, see 10 “mafia mainnet”- aligned apps deployed with more than 100,000 transactions across at least 25,000 wallets, or host three apps that generate at least $50,000 in daily fees for 30 days.Once the token is circulating, MegaETH will use priority fees from its proximity markets and yield from its native stablecoin, USDM, for MEGA token buybacks.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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