MegaETH Foundation launches MEGA token buyback, initial funding from all net proceeds of USDm

Odaily Planet Daily News: The MegaETH Foundation announced the official launch of the MEGA token repurchase plan 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 foundation 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 via a programmed mechanism as much as possible, automatically governed by preset rules rather than at the foundation's discretion. The scale of funds available for subsequent periodic buybacks is not fixed and will be affected by changes in USDm supply and the yield of underlying reserve assets.