MegaETH Shuts Down Accelerator Program Amid Mass Exodus to Rival Chains

MegaETH has shut down its Mega Mafia accelerator program after two years and two cohorts. The decision comes as most of the ~20 teams it supported have left to build on rival chains, signaling a full pivot to first-party apps.

The program was designed around close collaboration between selected teams and the MegaETH core team, with shared workspace, technical guidance, operational support, and market-making assistance. Despite raising approximately $80 million in funding across pre-seed to Series A rounds, most of these projects are no longer building on MegaETH.

Shuyao Kong, a core team member, confirmed that the teams' departures were not due to financial obligations, as MegaETH did not take equity or ownership stakes. Instead, the lack of retention was attributed to the network's failure to provide value to its supported projects.

MegaETH will now focus on building consumer-facing products and OMEGA applications that can only function on its infrastructure. According to Kong, this new strategy allows the team to build direct relationships with end users and own the outcome.