MegaETH MEGA Token Launches with Performance-Based Unlock Program

MegaETH's MEGA token has officially launched at a fully diluted valuation of $1.56 billion, tying its supply to network performance. The token went live after a months-long countdown following the success of 10 applications incubated through MegaETH's Mega Mafia program meeting transaction thresholds.

The token traded at $0.156 shortly after launch, giving it a market capitalization of around $176 million. However, its price fell by about 30% from its morning debut due to thin liquidity, a common pattern seen in early listings.

MegaETH has reserved over 5.3 billion tokens for its performance-based unlock program, which will release additional MEGA tokens when the network hits milestones tied to total value locked, circulating supply of the USDM stablecoin, and overall throughput.