MegaETH will conduct its ICO through an auction format, starting with a valuation of 1 million USD.

Foresight News reported that MegaETH, an Ethereum scaling solution developed by MegaLabs, announced on X platform that it will launch a public sale on Echo's Sonar platform, with an initial fully diluted valuation (FDV) of $1 million and a valuation cap set at $999 million. Users can bid through an English auction, with the highest bid reaching $186,282. In the event of oversubscription, priority will be given to existing MegaETH community members, as well as investors who demonstrate long-term consistency through social activities, on-chain behavior, and locking preferences. The dual-peak allocation process ensures both broad token distribution and priority protection for key contributors. MegaETH's core supporters will receive priority allocation, while at least 5,000 participants will be granted a basic allocation at the starting price of $2,650. 5% of the total MEGA tokens will be sold on October 27. The registration process for participation eligibility is now open.