MegaETH Publishes Specifics for Upcoming Public Token Sale

MegaETH, an upcoming Ethereum L2 that hopes to achieve 100k transactions per second, will conduct a token auction beginning on October 27. The protocol will offer 5% of the total MEGA supply during a three-day sale through Coinbase's recently acquired Sonar token sale platform.

What’s the Scoop?

• Auction Launch: MegaETH will auction 500M MEGA tokens (5% of total supply) in a 72-hour English auction that begins on October 27. The sale will have a starting price of $0.0001 per token ($1M FDV) and feature a ceiling price of $0.0999 per token ($999M FDV).
• Auction Mechanics: The sale will run on Sonar, Coinbase’s recently acquired crypto crowdfunding platform. Participants can bid using USDT on Ethereum, with individual contributions capped to $186,282 maximum. The auction format allows the price to rise dynamically based on demand, with allocations finalized once bidding closes after 72 hours.
• Lockup Incentives: Purchasers who lock their MEGA tokens for one year will receive a 10% discount on their purchase price. Eligibility is limited to verified accredited U.S. persons (subject to a mandatory one-year lock) and verified non-U.S. persons. Each participant can only use one wallet address to ensure fair distribution.