Overview
- MegaETH announced Thursday that it is sunsetting the two‑year MegaMafia accelerator and will not run a third cohort while continuing limited support for existing alumni.
- The program backed about 20 teams across two cohorts that together raised roughly $80 million, but MegaETH says most successful projects stopped building on its network.
- MegaETH deliberately took no equity or governance stakes in accelerator startups and spent millions on market making, loans, audits and engineering to help them grow.
- The company says it will redirect those funds and staff to build first‑party OMEGA applications and consumer products designed specifically for its wallet, stablecoin and infrastructure.
- The move follows an April MEGA token generation event tied to accelerator milestones and a Foundation buyback program funded by USDm stablecoin net income, and it tests whether in‑house apps can keep activity on the chain.