MegaETH's MEGA Token Launches with Performance-Based Rewards

MegaETH's native MEGA token has officially launched on Ethereum's layer-2 network. The token's debut comes after months of anticipation, following a countdown that began when 10 projects incubated through MegaETH's Mega Mafia program met transaction thresholds.

The MEGA token saw an initial listing price of $0.156 and traded at this level shortly after launch, giving the token a market capitalization of $176 million. However, its price had fallen roughly 30% from its morning debut due to thin liquidity.

MegaETH has tied most of its MEGA supply to network performance through its unique unlock program. A total of 5.3 billion tokens are reserved for this purpose, while the remaining 4.7 billion will be released into circulation.