Foresight News reports that MegaETH has revealed the core functions of its token MEGA and the TGE trigger mechanism. MEGA will have two main core functions: first, the foundation will use all income generated from the native revenue stablecoin USDM to buy back and accumulate MEGA; second, it introduces the Proximity Markets bidding system, where market makers and applications must use MEGA to bid for space near the sorter, reducing end-to-end latency to below 1 millisecond, with priority fee value flowing to MEGA.
At the same time, MegaETH has set three key performance indicators (KPIs), and a TGE will be conducted within 7 days after any one of them is achieved:
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USDM 30-day time-weighted circulation exceeds $500 million, and 25% of the circulation is deposited into verification smart contracts of key applications;
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Deployment of all 10 “Mafia” applications (including verification contracts, functional closed-loop, and public front-end);
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Three applications generate $50,000 in daily fees for 30 consecutive days.
Additionally, Echo users, Fluffle, and Sonar participants will receive 20% of the tokens on the first day of TGE. All KPIs will be publicly tracked via a custom front-end starting February 9.
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