MegaETH Co-Founder: Suspension of Pre-Deposits Aims to Ensure Healthy Ecosystem Growth, Sincerely Accepts Criticism

BlockBeats News, November 28, MegaETH co-founder brother bing (@hotpot_dao) posted regarding the termination of the MegaETH pre-deposit event, stating, "The team is very dissatisfied with this pre-deposit event, which exposed our lack of preparation for alternative plans. The original intention was to allow community users to exchange some USDm in advance, so that they could interact with some on-chain applications on day one when the mainnet launches. But this intention was buried by poor execution and incorrect market predictions (we initially worried that the $250 million cap would not be filled, so we did not set a limit for individual accounts). In the end, a healthy ecosystem should grow gradually and try to avoid peaking at the very beginning."

Previously, MegaETH announced that it would no longer proceed with the $1 billion cap plan, would refund all funds raised through the pre-deposit bridge, and planned to reopen the USDC and USDM swap bridge before the launch of the Frontier mainnet.