Buterin and Dragonfly Back MegaETH as Mainnet Launch Date Announced

The launch of the MegaETH blockchain is scheduled for February 9. The project, hailed as one of the industry’s most anticipated debuts, is supported by Ethereum co-founder Vitalik Buterin.

The stated throughput is 100,000 transactions per second with millisecond latency. Meanwhile, MegaETH maintains full compatibility with Ethereum.

The team aims to create a “world computer” and erase the boundaries between Web2 servers and the distributed ledger. In the test network, developers are already creating video games, prediction markets, and payment applications.

Among the investors are venture firm Dragonfly Capital, Ethereum co-founder Joseph Lubin, EigenLayer creator Sriram Kannan, and Helius founder Mert Mumtaz.

Last year, the project’s operator, MegaLabs, conducted a token sale. Demand significantly exceeded supply: 11,534 wallets contributed $300 million against a collection limit of $50 million. To allocate the funds, the team used an unconventional method—analyzing investors’ social media activity history.

The MegaETH ecosystem will introduce a native yield-bearing stablecoin USDm. It will be issued by Ethena, with backing provided by a tokenized BlackRock fund.

In March 2025, a developer known as Gunboats ported the recently unsanctioned Tornado Cash mixer to the test network of the L2 MegaETH project.