MegaETH co-founder reflects on halting pre-deposits: poor execution and overly rapid fundraising have become a burden on the ecosystem
Foresight News reported that brother bing, co-founder of the real-time blockchain MegaETH, posted regarding the termination of the MegaETH pre-deposit event, stating, "The team is very dissatisfied with this pre-deposit activity, which exposed our lack of preparation for alternative plans. Our original intention was to allow community users to exchange some USDm in advance, so that when the mainnet launches, they could interact with some on-chain applications on day one (this has always been our North Star). However, this intention was buried by poor execution and incorrect market predictions (we were initially worried that $250 million would not be fully subscribed, so we did not set a cap for individual accounts)." Brother bing stated that although the $500 million raised put MegaETH in the top five of the public chain revenue rankings, the team believes that under the current execution, these funds have become a source of pressure. He believes that a healthy ecosystem should grow gradually.
According to previous Foresight News reports, MegaETH announced that it will no longer pursue the $1 billion cap plan, will refund all funds raised through the pre-deposit bridge, and plans to reopen the USDC and USDM swap bridge before the Frontier mainnet launch.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Tom Lee Says Democratic Sweep Could Fuel 15% to 20% Tech Rally
The Senate takes control, the White House can no longer appoint "its own people", has the Federal Reserve's independence alarm been lifted?
After the Senate changed hands, the White House's room to install its own people at the Federal Reserve has been significantly narrowed. JPMorgan economist Feroli pointed out that the only expiring Federal Reserve Board position in the next two years is Powell's chairmanship (January 2028). If the White House wants to fill it, it must nominate a candidate acceptable to the Democratic-controlled Senate; otherwise, the seat will remain vacant. Meanwhile, the political value of removing Board member Cook has therefore diminished, and current Chair Waller's path to reappointment is also facing new congressional public relations pressure.
BoJ Minutes: Members agree it was suitable for bank to keep increasing policy interest rate
Waymo and Uber (UBER.US) exclusive Robotaxi partnership in two cities will end in 2028
Waymo plans to end its exclusive Robotaxi partnership with Uber (UBER.US) in Austin and Atlanta in January 2028. At that time, customers will be able to book autonomous rides through the Waymo app.
Crypto prices
More
