MegaETH announces that TGE will occur 7 days after achieving any KPI, and MEGA will have buyback and bidding functions.

Foresight News reports that MegaETH has revealed the core functions of its token MEGA and the TGE trigger mechanism. MEGA will have two main core functions: first, the foundation will use all income generated from the native revenue stablecoin USDM to buy back and accumulate MEGA; second, it introduces the Proximity Markets bidding system, where market makers and applications must use MEGA to bid for space near the sorter, reducing end-to-end latency to below 1 millisecond, with priority fee value flowing to MEGA.

At the same time, MegaETH has set three key performance indicators (KPIs), and a TGE will be conducted within 7 days after any one of them is achieved:

1. USDM 30-day time-weighted circulation exceeds $500 million, and 25% of the circulation is deposited into verification smart contracts of key applications;

2. Deployment of all 10 “Mafia” applications (including verification contracts, functional closed-loop, and public front-end);

3. Three applications generate $50,000 in daily fees for 30 consecutive days.

Additionally, Echo users, Fluffle, and Sonar participants will receive 20% of the tokens on the first day of TGE. All KPIs will be publicly tracked via a custom front-end starting February 9.