Ethereum scaling project MegaETH has ended Mega Mafia, its flagship incubation program, after two years and two cohorts. Shuyao Kong, a core team member, said the program helped incubate around 20 teams that went on to raise about $80 million in total. At the same time, Kong said most of the successful applications are no longer building on MegaETH. GTE, described as the flagship project, has chosen to launch its own chain. Noise is going live on Base, while HelloTrade has moved to Monad. Avon and Valhalla have shut down, and Cap is pursuing a multichain approach. Kong also said MegaETH used a model that took no equity and did not participate in governance, adding that the structure did not translate into long-term retention for the projects involved.
Ethereum scaling project MegaETH said it is ending Mega Mafia, its flagship incubation program.
The program ran for two years and covered two cohorts. Shuyao Kong, a core team member at MegaETH, said Mega Mafia incubated around 20 teams that collectively raised about $80 million.
Kong also said most of the successful applications are no longer building on MegaETH. Flagship project GTE has decided to build its own chain. Noise is launching on Base, HelloTrade has shifted to Monad, Avon and Valhalla have shut down, and Cap has adopted a multichain strategy.
MegaETH used a model that did not take equity and did not participate in governance. Kong said that approach did not result in long-term retention.
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