MegaETH unveils MEGA token buyback powered by USDm

MegaETH Foundation launched a MEGA token buyback, funding the first round with USDm stablecoin revenue. Future buybacks will be automated, linking MEGA demand to USDm growth.

The MegaETH Foundation has launched a MEGA token buyback program, with the initial repurchase fully funded by net revenue generated from the USDm stablecoin through April. This initiative follows a significant post-launch selloff that caused MEGA’s price to drop by about 38%. The buyback program is designed to create a continuous demand cycle by channeling stablecoin revenue directly into MEGA tokens. This approach links the growth and yield of USDm to MEGA demand, strengthening the token’s economic foundation. Notably, USDm is issued by a separate entity, not by the MegaETH Foundation or MegaLabs, but its revenue now serves as a key economic driver for MEGA. Currently, the USDm supply is around $480 million. Looking ahead, future buybacks will be automated and programmatic, with their scale determined by USDm supply and reserve yields. This strategy aims to support ongoing market stability and value retention within the MegaETH ecosystem.