MegaETH’s MEGA token went live on April 30, completing a seven-day countdown triggered after the project hit its first KPI with 10 live apps.
MegaETH has launched its public mainnet, claiming 50,000 transactions per second and 10-millisecond block times.
During the test, users will interact with latency-sensitive gaming applications while the team execute transfers and swaps in the background.
Tuesday's pre-deposit event faced outages, changes in deposit cap, and a misconfigured multisig transaction.
MegaETH plans to offer withdrawals to users unsettled by the rollout, stating that all contracts remain secure despite the operational missteps.
USDm will be minted through Ethena’s USDtb system, giving the new stablecoin a reserve structure similar to one used by existing institutional-grade offerings.
MegaETH’s public auction drew accredited investors from around the world, with buyers able to lock tokens for a 10% discount.
Chainlink has deployed its real-time Data Streams oracle natively on the ultra-fast Ethereum Layer 2 MegaETH.
MegaETH is working with USDe issuer Ethena to launch USDm, a native stablecoin whose reserve yield funds the network’s sequencer to keep fees low and stable.
The developer said no changes in the original Tornado Cash code were needed in order to port the protocol to the MegaETH testnet.