MegaETH launches MEGA token after usage milestone
MegaETH released its MEGA token after 10 apps each recorded 100,000 on-chain transactions in 30 days, triggering a milestone that unlocked 53.3% of the 10 billion supply.
MegaETH launched its native MEGA token after a network usage milestone unlocked part of the supply. On April 23, the protocol met the first performance trigger when 10 ecosystem apps each posted 100,000 on-chain transactions within a 30-day window, enabling the initial token release the following Thursday.
The project structured 53.3% of the total 10 billion MEGA tokens to vest only when the network reaches defined performance and adoption targets rather than on fixed calendar dates. The next major vesting event requires $500 million in circulating supply of USDM, MegaETH’s native stablecoin; USDM stood at about $300 million at launch.
MegaETH is an Ethereum Layer-2 network aimed at consumer-facing, real-time applications. The protocol targets 100,000 transactions per second, roughly 10-millisecond block times and sub-millisecond latency. Its mainnet has been live since February, and engineering teams report throughput that supports those parameters under live conditions. The network highlights use cases such as on-chain games, social apps and high-frequency decentralized finance products.
Financial and on-chain metrics accompanied the token debut. MegaETH has raised about $470 million and lists backers including Vitalik Buterin, Joe Lubin and Dragonfly Capital. The project’s fully diluted valuation is reported near $1.7 billion. Early ICO participants recorded roughly a 70% return on the initial offering. Total value locked on the chain reached about $490 million, placing it among the top 15 chains by TVL. The market cap of the network’s stablecoin rose to roughly $270 million around the launch.
At launch, MEGA traded with price volatility and retreated from initial highs after airdrops and ICO distributions. Developers and ecosystem teams are focused on onboarding additional applications and meeting the KPI thresholds required to release further portions of the conditional supply.
The tokenomics and milestone schedule tie future token releases to measurable network activity and stablecoin circulation. MegaETH intends to continue adding apps and tracking the specified performance metrics for upcoming vesting events.
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