MegaETH launches first MEGA token buyback: preventing USDm value leakage, with plans for "programmatic, fully on-chain" execution in the future

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Keep stablecoin yields within the ecosystem! The MegaETH Foundation announced today (8th) that it has completed its first MEGA token buyback, with all funds sourced from the net revenue accumulated by USDm. The official statement explicitly points out that this move is intended to prevent value from flowing into the pockets of traditional stablecoin shareholders. With the USDm supply surpassing $480 million, MegaETH has signaled that future buyback plans will be fully "programmatic" and "on-chain," utilizing its own DeFi protocols to execute regularly, thereby building a robust economic model that keeps wealth within its own ecosystem. (Previous coverage: MegaETH token MEGA listed on six major exchanges; the real-time L2 invested in by Vitalik officially launches its token) (Background supplement: "Ethereum's fastest L2" MegaETH sets TGE for 4/30; a quick look at tokenomics that prioritizes KPIs over timing) High-performance public chain MegaETH has taken a significant step in the implementation of its Tokenomics. The MegaETH Foundation officially announced on May 8th that it has successfully completed its first market buyback of the native token MEGA. According to official information, the funds for this buyback were sourced entirely from all net revenue accumulated from the USDm issuer up to the end of April. This move not only demonstrates the Foundation's determination to maintain token value but also establishes a unique capital circulation model for the MegaETH ecosystem. On May 7th, the MegaETH Foundation completed its first MEGA buyback, using all net rewards accrued from the USDm issuer up until the end of April. Current USDm supply sits at $480M. We intend future buybacks to be programmatic and onchain. — MegaETH (@megaeth) May 8, 2026 Preventing value leakage: $480 million in USDm revenue fed back into the ecosystem In traditional public chain ecosystems, users holding large amounts of centralized stablecoins like USDT or USDC often means that capital yields on the public chain (such as U.S. Treasury yields) are lost to the shareholders of traditional stablecoin issuers. MegaETH is attempting to break this pattern. Currently, the total supply of USDm in the MegaETH ecosystem has reached $480 million. The official post emphasized that this buyback marks the formal launch of the "MEGA Buyback Program," a critical component of the MegaETH economic model: "Using USDm prevents value from leaking to other stablecoin issuers and recycles it back into the MegaETH ecosystem, rather than flowing into the pockets of stablecoin shareholders." At the same time, the official statement included a disclaimer: USDm is not issued or operated by the MegaETH Foundation or MegaLabs; the two maintain an independent ecosystem partnership. Future outlook: Programmatic, non-market-timed, and fully on-chain Regarding the future operational mechanism of MEGA buybacks, the MegaETH Foundation has provided a clear "decentralized" roadmap. The official announcement indicates that future buyback actions will feature the following three characteristics: - Programmatic: Buybacks will follow a pre-determined schedule, no longer subject to subjective decision-making by the Foundation, and will not attempt to "time the market." - On-chain: Once the operational infrastructure is fully established, all buyback operations will be conducted directly on the blockchain. - Empowering native DeFi: Buyback operations will directly utilize DeFi protocols within the MegaETH ecosystem. The official statement explicitly notes that this goal is to "support our own market and use our own chain." Finally, MegaETH reminded the community that because the funds available for future buybacks will change dynamically—fluctuating with the market supply of USDm and the current yields of underlying reserve assets—the buyback amount for each cycle may vary.

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