ChainCatcher report, according to The Block, the foundation behind Ethereum Layer 2 network MegaETH has been renamed MEGA and has pledged to allocate $30 million from its existing treasury to develop new products, with its first AI inference market scheduled to launch in December.
MEGA stated that all new products will run on MegaETH, and planned network upgrades, such as fast finality, will also support AI inference products. Co-founder Shuyao Kong said the inference market targets developers, with specific providers and models to be announced at launch.
MEGA's responsibilities also include expanding the use cases for the MEGA token, and Kong stated that the team will explore using the token in potential scenarios.
MegaETH Foundation Renamed MEGA, Commits $30M to New Product Development
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Summary
The MegaETH Foundation has rebranded as MEGA and announced a $30 million treasury allocation for new product development. The first AI inference market is scheduled to launch in December on the MegaETH network. The foundation also plans to expand the use cases for the MEGA token. The network upgrade is expected to support these new initiatives. Traders are monitoring for potential new token listings as part of the expansion.
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