MegaETH launches MEGA token as major exchanges open trading
MegaETHs MEGA token went live on Thursday after the Ethereum scaling project completed a seven-day launch countdown. MegaETH launched MEGA after 10 ecosystem apps met the first KPI target.MEGAs token model ties 53.3% of supply to performance-based rewards.USDM supply rose above $300 million during the MEGA token launch period. The token started trading on major exchanges after the network met its first ecosystem milestone. MegaETH confirmed the launch in a post on X, saying, “MEGA — Now Trading.” The team said all tokens would be distributed to users by 7 a.m. ET. The token generation event started after MegaETH met its first key performance target. The project had said it would only launch MEGA after showing enough real onchain activity. MegaETH meets first launch milestone MegaETH said 10 “Mega Mafia” apps had gone live before the launch. These apps cleared the first KPI threshold required to trigger the final countdown. The milestone focused on apps with real user activity linked to USDM, the protocols native stablecoin. USDM was co-developed with Ethena. In addition, MegaETH has a fixed supply of 10 billion MEGA tokens. The project has tied 53.3% of total supply to performance-based staking rewards. This structure differs from a standard time-based vesting model. MegaETH uses KPI-linked