MegaETH co-founder reflects on halting pre-deposits: poor execution and overly rapid fundraising have become a burden on the ecosystem

Foresight News reported that brother bing, co-founder of the real-time blockchain MegaETH, posted regarding the termination of the MegaETH pre-deposit event, stating, "The team is very dissatisfied with this pre-deposit activity, which exposed our lack of preparation for alternative plans. Our original intention was to allow community users to exchange some USDm in advance, so that when the mainnet launches, they could interact with some on-chain applications on day one (this has always been our North Star). However, this intention was buried by poor execution and incorrect market predictions (we were initially worried that $250 million would not be fully subscribed, so we did not set a cap for individual accounts)." Brother bing stated that although the $500 million raised put MegaETH in the top five of the public chain revenue rankings, the team believes that under the current execution, these funds have become a source of pressure. He believes that a healthy ecosystem should grow gradually.

According to previous Foresight News reports, MegaETH announced that it will no longer pursue the $1 billion cap plan, will refund all funds raised through the pre-deposit bridge, and plans to reopen the USDC and USDM swap bridge before the Frontier mainnet launch.