Thread by @megaeth_labs

Introducing MegaUSD (USDm), the native stablecoin of MegaETH.

Built in collaboration with @ethena_labs.

$USDM aligns incentives across stakeholders, letting users and apps enjoy the lowest fees possible while routing scalable value back to MegaETH.

If a blockchain’s economics rely solely on transaction fees, it creates misaligned incentives:

The network only earns more when users pay more

That model structurally caps growth and discourages the very usage needed to expand the ecosystem.

This is why USDm exists.

To overcome the artificial ceiling imposed by transaction-fee economics, replacing it with yield-backed sustainability.

Keeping fees low and UX uncompromised for builders and users alike.

A low cost and predictable ecosystem primed for innovation.

The architecture of USDm v1 begins with:

→ Issuance through Ethena's new stablecoin SaaS stack
→ USDtb as its foundation

USDtb is primarily backed by Blackrock BUIDL, with fully onchain reserves.

By internalizing USDm’s yield, MegaETH will run its sequencer at-cost, with the opportunity to leverage proceeds for the benefit of the community.

We’re bringing real-time performance, a DeFi renaissance, and net-new apps to Ethereum.

Read more:
megaeth.com/blog-news/mega…