Wu learned that MegaETH co-founder Shuyao Kong said that the two-year MegaMafia program will be discontinued and that no 3.0 version will be released. The program, across two phases, supported 20 teams—helping them complete financing of over $80 million—and invested several million dollars to meet liquidity needs such as market making, direct lending, audits, and other liquidity requirements. However, at the time, MegaETH intentionally did not seek equity, governance rights, or other economic interests. As a result, those investments ultimately brought almost no value back to Mega, and most applications are no longer being co-developed with MegaETH. In the future, MegaETH will continue to support existing MegaMafia projects, and will shift its focus to OMEGA applications that can only be realized with MegaETH, using its wallet infrastructure and stablecoins, as well as consumer-grade applications directly developed by the teams—so as to shorten the feedback cycle and ensure that value accrues more directly to the protocol.

MEGA-6.33%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

4 Likes

Reward
4
5
2
Share

Comment

Add a comment

HashrateHunter

· 5h ago

Shifting from supporting external teams to building consumer-grade apps in-house, shortening the feedback loop—this transformation logic sounds more credible than just throwing money at it.

View OriginalReply0

WhaleWatching

· 6h ago

It sounds like a carefully designed exit strategy, but getting $80 million for 20 teams is still a real achievement.

View OriginalReply0

FakeNews

· 6h ago

MegaMafia stopped after two years—kind of a shame, but since they already invested several million into market-making and audits, at least it wasn’t a case of running off midway through an empty promise.

View OriginalReply0

NFTArchaeologist

· 7h ago

The key is still how to route the value back to MegaETH afterward. The way the wallet and stablecoins are being set up feels like a serious strategy.

View OriginalReply0

MemeCollector

· 7h ago

Not asking for equity in this regard is quite interesting—if ecosystem support doesn’t seek a return, then the only way to fund the protocol back must be through OMEGA applications and self-developed consumer-grade apps?

View OriginalReply0

Trending Topics
View More
#
PreIPOsSeason2OpenAISubscription
1.31M Popularity
#
CXMTPreIPOContractIgnitesCommunity
80.69K Popularity
#
TSMCQ2NetProfitSurges77%
214.12K Popularity
#
SummerCreationCamp
935K Popularity
#
USDTDepositEarningsDoublePlay
29.15M Popularity

Pinned

Sitemap

MegaETH will end the MegaMafia incubation program and shift resources to self-developed consumer-grade applications

Trending Topics

PreIPOsSeason2OpenAISubscription

CXMTPreIPOContractIgnitesCommunity

TSMCQ2NetProfitSurges77%

SummerCreationCamp

USDTDepositEarningsDoublePlay

Pinned