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
Pi Network Price Surge Outpaces Market, Protocol 20 Upgrade Boosts Market Confidence
Pi Network's recent price has risen to $0.198, outperforming the broader crypto market, primarily driven by capital rotation and the launch of a new token platform developed through Protocol 20 upgrades. Analysts point out that PI's gains reflect fundamental improvements rather than passive market influences. Going forward, PI's price movement will be affected by altcoin season indices and market sentiment, with $0.20 serving as resistance and $0.19 as support.
MarketWhisper2h ago
Resolv Labs Plans to Enable Pre-Attack USR Redemption Feature on March 23
Resolv Labs announces the enablement of redemption functionality for pre-attack USR, scheduled to launch on March 23rd, with affected users required to contact RDAL. This incident stemmed from a third-party attack, with underlying assets remaining uncompromised. The protocol is currently tracking illegally minted USR and recommends users suspend related transactions.
GateNews3h ago
Gate Daily Report (March 23): MicroStrategy Releases Bitcoin Buy Signal; MajiDaBro's ETH Liquidation Incurs Losses of 30.35 Million
Bitcoin has continued to decline to around $67,950, with MicroStrategy founder Michael Saylor reiterating a buy-the-dip strategy. Huang Licheng's highly leveraged ETH position was completely liquidated, with losses exceeding $30.35 million. Fidelity has called on the US SEC to improve its regulatory framework for crypto assets. US stocks have broadly declined, and market sentiment remains cautious.
MarketWhisper3h ago
This week, eight tokens including H, JUP, and XPL will undergo large-scale unlocks.
This week, multiple tokens will undergo significant unlocks, including H, JUP, XPL, and others. Among them, H will unlock 105.36 million tokens on March 25, while JUP and XPL will also experience notable unlocks, with varying trading values and circulating supply percentages.
GateNews4h ago
Ripple Burns 9M RLUSD, Slowing Push Toward $2B Supply Target Pace Now
RLUSD Supply Adjustments and Treasury Activity
Ripple executed the latest burn through its treasury wallet, permanently removing nine million RLUSD tokens from circulation. Consequently, the move reduced the available supply and followed earlier large-scale burns during the same month. The action f
CryptoBreaking18h ago
World Coin Team Allegedly Conducts OTC Transactions Involving 35 Million USDC and 117 Million WLD
Gate News Report: On March 22, according to Onchain Lens monitoring, the World Coin team is suspected of conducting OTC transactions. The team received 35 million USDC from FalconX and a certain CEX, and subsequently transferred 117 million WLD tokens to OTC trading addresses. These tokens may also be provided for market maker usage.
GateNews03-22 01:33
