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

Odaily Odaily Planet Daily News The MegaETH Foundation announced the official launch of the MEGA token buyback plan, and completed the first MEGA buyback on May 7. The funds used were all the net profits generated by the USDm issuer as of the end of April. The official emphasized that USDm is not issued and operated by the MegaETH Foundation or MegaLabs. The current supply of USDm is approximately $480 million. Future MEGA buybacks will be executed through a programmatic mechanism as much as possible, automatically operated by preset rules, rather than the foundation choosing the timing independently. The scale of funds available for repurchase in each subsequent period will not be fixed and will be affected by changes in the USDm supply and the yield of the underlying reserve assets.