MegaETH is a Layer 2 blockchain built for high-speed transactions, aiming to process up to 100,000 transactions per second with 10-millisecond block times. The network has raised $107.68 million in funding and completed its token generation event in November 2025.
The MegaETH team has allocated an additional 2.5% of its total supply for mainnet campaign participants and ecosystem app users, which will be distributed based on activity level during Season 1. To participate, users must bridge their Ethereum holdings to MegaETH, interact with featured apps on the platform's Terminal, and stack boosters via NFT clan pledging.
According to Dune Analytics data, over half a million addresses have been active on MegaETH, but the distribution is heavily skewed. More than half of these users have only interacted with the network for a single day. Consistent weekly activity through June 23 puts participants in roughly the top 20% of engagement duration.
It's essential to note that sybil risk and smart contract risks are moderate to high, as seen in the high number of addresses with 50+ transactions on the Dune dashboard. Additionally, users must complete KYC requirements to claim their rewards.