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MegaETH Foundation Completes First MEGA Buyback on May 7, USDm Supply Hits $480M

2026-05-08 14:13:59

MEGA-0.02%

According to PANews, MegaETH Foundation announced on May 8 that it has completed its first MEGA token buyback on May 7, using cumulative net proceeds generated by the USDm issuer through April. The foundation stated that current USDm supply stands at approximately $480 million. Future buybacks will be executed through programmatic mechanisms governed by preset rules rather than discretionary timing by the foundation, with the amount available for each buyback varying based on USDm supply and underlying reserve asset yield changes.

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