MegaETH Foundation launches MEGA token buyback program

The MegaETH Foundation has announced the launch of the MEGA token buyback program and completed the first buyback on May 7, with funds sourced from the cumulative net earnings of the USDm issuer as of the end of April. According to the official statement, the current USDm supply is around $480 million. Future buybacks will aim to be executed through a programmatic mechanism, with each funding round affected by changes in USDm supply and the yield of underlying reserve assets. The statement also emphasizes that USDm is not issued or operated by the MegaETH Foundation or MegaLabs.