MegaETH terminates Mega Mafia incubation program, successfully incubated teams have raised approximately $80 million in total

Odaily Odaily Planet Daily News: Ethereum scaling project MegaETH has announced the termination of its flagship incubation program, Mega Mafia, which has been running for two years across two cohorts. Core team member Shuyao Kong stated that the program successfully incubated about 20 teams, raising a total of approximately $80 million. However, most successful applications are no longer being built on MegaETH. The flagship project GTE has decided to build its own chain, Noise has chosen to launch on Base, HelloTrade has migrated to Monad, Avon and Valhalla have shut down, and Cap has adopted a multi-chain strategy. MegaETH adopts a model where it does not hold equity or participate in governance. Kong acknowledged that this approach did not secure the long-term retention of projects.