MegaETH Foundation Launches MEGA Token Buyback, First Funds from All Net Profits of USDm

Odaily Planet Daily News: The MegaETH Foundation announced the official launch of the MEGA token buyback program and completed its first MEGA buyback on May 7. The funds used were all net profits generated by the USDm issuer up to the end of April. The official emphasized that USDm is not issued or operated by the MegaETH Foundation or MegaLabs. The current supply of USDm is approximately $480 million. Future MEGA buybacks will be executed as programmatically as possible, automatically operated by preset rules, rather than timing-based decisions by the foundation. The scale of funds available for subsequent buybacks is not fixed and will be affected by changes in USDm supply and the yield of underlying reserve assets.