Overview
- The MegaETH Foundation completed its first purchase of MEGA using all net income from the USDm issuer through April 30.
- The foundation said future repurchases will run automatically onchain with size set by USDm supply and the yield on its reserve assets.
- USDm is a yield‑bearing stablecoin whose reserves mainly sit in BlackRock’s tokenized U.S. Treasury fund BUIDL via Securitize, and that yield funds the buybacks.
- Recent figures show USDm’s supply near $480 million, while MEGA trades around $0.13 after a steep post‑launch slide reported at about 38%.
- The foundation emphasized that a separate entity issues USDm even as those revenues are now routed into ongoing MEGA purchases.