<\/p>\n
The highly anticipated Ethereum Layer 2 blockchain will launch its mainnet on Monday.<\/p>\n
MegaETH, the real-time blockchain and Ethereum Layer 2, is launching its mainnet on Feb. 9, but the token generation event (TGE) will be dependent on network performance milestones.<\/p>\n
The MegaLabs team has defined<\/a> three key performance indicators (KPIs), and at least one of these must be met for the TGE to proceed. The chain must either establish a baseline of $500 million in USDM circulating, see 10 \u201cmafia mainnet\u201d- aligned apps deployed with more than 100,000 transactions across at least 25,000 wallets, or host three apps that generate at least $50,000 in daily fees for 30 days.<\/p>\n Once the token is circulating, MegaETH will use priority fees from its proximity markets and yield from its native stablecoin, USDM, for MEGA token buybacks.<\/p>\n In an article<\/a>, MegaETH co-founder Shuyao Kong said, \u201cThe largest issue that’s faced our industry over the past few years was a simple question: why does a token need to exist? Equity has acted as king, with every successful story over the past few years, barring hyperliquid, having some variation of equity.\u201d<\/p>\n The community-focused approach has been well received, but pre-market derivatives<\/a> still price MEGA at just a $1.3 billion fully diluted valuation, only 40% higher than its initial coin offering<\/a> (ICO) price in October.<\/p>\n