Foresight News reports that MegaETH has revealed the core functions of its token MEGA and the TGE trigger mechanism. MEGA will have two main core functions: first, the foundation will use all income generated from the native revenue stablecoin USDM to buy back and accumulate MEGA; second, it introduces the Proximity Markets bidding system, where market makers and applications must use MEGA to bid for space near the sorter, reducing end-to-end latency to below 1 millisecond, with priority fee value flowing to MEGA.
At the same time, MegaETH has set three key performance indicators (KPIs), and a TGE will be conducted within 7 days after any one of them is achieved:
-
USDM 30-day time-weighted circulation exceeds $500 million, and 25% of the circulation is deposited into verification smart contracts of key applications;
-
Deployment of all 10 “Mafia” applications (including verification contracts, functional closed-loop, and public front-end);
-
Three applications generate $50,000 in daily fees for 30 consecutive days.
Additionally, Echo users, Fluffle, and Sonar participants will receive 20% of the tokens on the first day of TGE. All KPIs will be publicly tracked via a custom front-end starting February 9.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
SBI to locate its site in Tokyo’s Odaiba! Invest 350 billion yen to build a Japan version of Sphere, running tokenization technology in parallel
SBI Holdings is partnering with Madison Garden in the United States to build a large immersive spherical arena at Tokyo Odaiba, with a budget of about 350 billion yen. The venue will be designed as a fully enclosed sphere, emphasizing an immersive experience, and is expected to accommodate 20,000 people. SBI also plans to combine entertainment assets with digital finance to develop new investment products, while also participating in the establishment of an entertainment industry fund.
ChainNewsAbmedia42m ago
USD.AI launches a token with a “non-transferable” trap; CHIP claims are open but trading is impossible
USD.AI has opened claims for the token CHIP, but trading is still not possible, which does not match the settlement standard “issue tokens” for prediction markets, resulting in settlement being “No.” The agreement is led by Framework Ventures, and although it has market momentum, there are risks in the lending model and team background that need to be assessed. The official listing date will be key to pricing.
MarketWhisper3h ago
Encryption Supremacy: Zcash and Privacy in the Age of Scale
The essay discusses advancements in machine learning for Bitcoin transaction classification, highlights Zcash's increasing use of shielded transactions, and outlines the growth of decentralized liquidity in bypassing KYC. It also covers Zcash's post-quantum initiatives and its recent organizational restructuring.
CoinDesk14h ago
Franklin Templeton to Buy CoinFund Spinoff, Build Out Crypto Investment Offering
Franklin Templeton is acquiring 250 Digital to establish its crypto division, Franklin Crypto, integrating the team's investment strategies. The deal will utilize BENJI tokens as payment, marking a shift to on-chain transactions in M&A.
Decrypt15h ago
Ripple’s XRP Crashes 7% Weekly While New Crypto Project GCOIN by PlayNance Gains Momentum
The cryptocurrency market has lost more than $200 billion in total capitalization over the past few days. This comes on the back of a 7% drop in Bitcoin’s price, which also dragged down most altcoins. Ripple’s XRP is no exception.
XRP Price Shaky Amid Global
CryptoPotato17h ago
Neutron launches the NTRN redemption mechanism, with the deposit term running from April 1 to April 30
Cosmos ecosystem project Neutron announced on April 1 the launch of the NTRN redemption mechanism. Holders can burn NTRN to receive USDC. The deposit period runs from April 1 to April 30, and redemption requests will open on May 1 and close on June 30. The foundation’s NTRN will not participate in the redemption and will be burned.
GateNews17h ago
