MegaETH Foundation Initiates MEGA Token Buyback, First Funds from All Net Income of USDm

Odaily reported that the MegaETH Foundation has announced the official launch of the MEGA token buyback program, and completed its first MEGA buyback on May 7, using all net income generated by the USDm issuer as of 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 programmed as possible, running automatically based on preset rules rather than being timed discretionarily by the foundation. The amount of funds available for buybacks in each subsequent period is not fixed and will be affected by changes in USDm supply and the yield of underlying reserve assets.