TL;DR
- MegaETH raised $1.39 billion in a three-day token auction, exceeding the $50 million available supply by 27.8 times.
- The auction attracted investors from over 50 countries and applied a bimodal allocation model that guarantees minimum allocations to 5,000 users while prioritizing strategic partners.
- MegaETH’s fully diluted valuation (FDV) exceeds $27.8 billion; the project aims to combine smart contracts with high-performance decentralized computing.
MegaETH, a new project in the Ethereum ecosystem, completed a three-day token auction that raised $1.39 billion, despite the available supply being limited to $50 million.
Demand exceeded capacity by 27.8 times, making it one of the most oversubscribed sales in decentralized fundraising history. The auction used an English-style bidding system, where prices increased incrementally as participants competed, reaching a maximum clearing price of $0.0999 per token.
The auction attracted investors from over 50 countries, with individual contributions ranging from $2,650 to $186,000. To ensure broad participation while rewarding strategic contributors, the MegaETH team implemented a bimodal allocation model.
This system guarantees that at least 5,000 users receive a baseline allocation, while strategic partners, developers, and ecosystem supporters are prioritized for the remaining distribution. According to the team, this approach balances fairness with selective inclusion and builds a decentralized but strategically aligned network.
MegaETH: A Next-Generation Infrastructure Project
The offering placed MegaETH at a hypothetical fully diluted valuation (FDV) exceeding $27.8 billion, comparable to some of the largest layer-1 networks before listing on exchanges. Industry analysts interpret the auction’s success as a reflection of investor appetite for next-generation infrastructure projects, especially those focused on Ethereum scalability and modular blockchain architectures.
After the auction closed, MegaETH began reviewing the bids, confirming that offers below the maximum price will be refunded. Final allocation details are expected by November 5. The company emphasized transparency in the process on its social media channels, aiming to avoid the chaos seen in other highly oversubscribed token sales.
The project has not yet published a detailed roadmap or confirmed an exchange listing date, but insiders indicate that discussions with platforms are already underway. MegaETH aims to become a hybrid platform combining smart contracts with high-performance decentralized computing, optimizing the efficiency of the Ethereum Virtual Machine
