MegaETH Co-founder: Pause in Pre-sale Intended to Ensure Ecosystem's Healthy Growth, Willing to Accept Feedback

BlockBeats News, November 28th, MegaETH co-founder brother bing (@hotpot_dao) responded to the termination of the MegaETH pre-deposit event, stating, "The team is very dissatisfied with this pre-deposit event, which exposed our lack of preparedness in the alternative plan. Our original intention was for the community users to exchange some USDm in advance so that they could interact with some on-chain applications on day 1 of the mainnet launch. However, this original intention was overshadowed by poor execution and a wrong market prediction (we were initially concerned that $250 million would not be raised in full, so we did not set a personal account limit). Ultimately, a healthy ecosystem should grow little by little, trying to avoid peaking too early."

Prior to this announcement, MegaETH stated that they would no longer pursue the $1 billion upper limit plan, will refund all funds raised through the pre-deposit bridge, and plan to reopen the USDC to USDM exchange bridge before the Frontier mainnet launch.