Odaily Planet Daily reports that the MegaETH Foundation has officially launched the MEGA token buyback program and completed its first MEGA buyback on May 7, using all net earnings accumulated by the USDm issuer as of the end of April. The official statement emphasizes that USDm is neither issued nor operated by the MegaETH Foundation or MegaLabs. The current supply of USDm is approximately $480 million. Future MEGA buybacks will be executed via programmatic mechanisms governed by predefined rules, with the funding amount for each round not fixed and subject to fluctuations in USDm supply and the yield of underlying reserve assets.
MegaETH Foundation Launches MEGA Token Buyback Using USDm Net Earnings
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Summary
The MegaETH Foundation announced a MEGA token buyback using USDm net earnings as of April 30. The first buyback took place on May 7. The USDm supply currently stands at $480 million. Future buybacks will be automated, based on USDm reserves and yield. This token launch announcement underscores ongoing efforts to manage token value. The foundation clarified that USDm is not operated by MegaETH or MegaLabs. New token listings and buyback strategies remain key focus areas for the project.
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