MegaETH Launches Token Auction with $1M-$999M Valuation Range

MegaETH is decentralizing valuation power through a novel auction for 5% of its MEGA token supply. The real-time blockchain project will conduct an English auction on October 27 via Echo's Sonar platform, with bids starting at a $1 million fully diluted valuation and capped below $1 billion.

The structure aims to prevent inflated valuations that have harmed retail investors in previous token sales. Backed by $30 million from investors including Dragonfly and Vitalik Buterin, MegaETH intends to create its largest stakeholder group from non-insider participants. "This public sale will make non-insider investors the single largest stakeholder in the MegaETH network," the team stated.

For oversubscribed auctions, a "U-Shaped Allocation" system will prioritize proven contributors. The approach reflects growing experimentation with fair launch mechanisms in blockchain projects, particularly those emphasizing decentralized governance from inception.