MegaETH Launches MEGA Token with Performance-Based Unlock Model

MegaETH, an Ethereum layer-2 network, has launched its native MEGA token in a move that ties most of its supply to network performance. The token went live following a months-long countdown that started after 10 applications incubated through MegaETH's Mega Mafia program met transaction thresholds.

The launch model breaks from standard vesting schedules, with additional MEGA tokens only releasing when the network hits milestones tied to total value locked, circulating supply of the USDM stablecoin, and overall throughput. Stakers who lock tokens for longer periods receive a larger share of rewards.

MegaETH's mainnet went live in February 2026 and currently holds about $89 million in total value locked. The network targets 100,000 transactions per second with 10-millisecond block times. Venture investors hold 14.7% of the supply, while the team and advisors received 9.5%. A foundation reserve covers 7.5%, and 5% sold through a public auction.