MegaETH Unveils MEGA Token, Ties Supply to Network Performance

MegaETH, an Ethereum layer-2 network, has launched its native MEGA token at a fully diluted valuation of $1.56 billion. 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.

Of the 10 billion total MEGA supply, over 5.3 billion tokens are reserved for performance-based unlock rewards. The project's mainnet went live in February 2026 and currently holds about $89 million in total value locked. MegaETH targets 100,000 transactions per second with 10-millisecond block times.

Both Coinbase and Binance have confirmed support for the new token. 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.