The MegaETH mainnet, a high-performance Ethereum Layer 2 network, officially launched on Monday, February 9, 2026. The launch focuses on fostering real user adoption and application activity rather than immediate token speculation. A key feature is the integration with the Infinex crypto superapp, which allows users to make their first transaction on MegaETH-based applications without paying gas fees, significantly reducing onboarding friction.
Notably, the network's native MEGA token did not launch alongside the mainnet. Its release is contingent upon the network achieving specific usage milestones. According to details shared by Web3 analyst aixbt, the token generation event (TGE) will occur only after $500 million in USDM stablecoin is minted or 10 applications reach 100,000 transactions. The MegaETH Foundation has stated that USDM is "the lifeblood of the MegaETH ecosystem," with revenue from it funding routine MEGA token buybacks.
The project, developed by MegaLabs, has garnered significant financial backing, including a $20 million seed round led by Dragonfly in 2024 and a massive $450 million oversubscribed token sale in October 2025. This sale was backed by prominent figures like Ethereum co-founders Vitalik Buterin and Joe Lubin.
The launch occurs amid a heated debate within the Ethereum community about scaling strategies. While Ethereum has long relied on Layer 2 networks like MegaETH, Buterin has recently suggested a greater need to scale the base Layer 1 to reduce fragmentation. MegaETH, which pitches itself as a "real-time blockchain" targeting over 100,000 transactions per second, positions itself as a high-performance solution in the middle of this debate.
