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Aave Deposits on MegaETH Cross $575M as Post-TGE Liquidity Pours In
➤ MegaETH's DeFi TVL has surged to over $575 million, driven by Aave deposits following the launch of its native MEGA token. ➤ The growth is attributed to capital inflows into the network's native stablecoin, USDM, and the 'Terminal Points' farming campaign. ➤ MegaETH, an Ethereum Layer 2 network, aims for high transaction throughput and has committed revenue guarantees to the Aave DAO.
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MegaETH Debuts MEGA Token, Reserves 5.3B Of Supply For Performance Rewards
Ethereum layer-2 MegaETH released its MEGA token Thursday at a $1.56 billion fully diluted valuation, with most supply locked behind network performance targets.
➤ MegaETH, an Ethereum layer-2 network, launched its native MEGA token with a $1.56 billion fully diluted valuation, tying most of its supply to network performance targets. ➤ The token's release model deviates from standard vesting, with over 5.3 billion tokens reserved for performance-based unlocks tied to total value locked and stablecoin supply. ➤ The project has backing from notable figures like Vitalik Buterin and institutions such as Dragonfly and Kraken Ventures, aiming for high transaction throughput and fast block times.
