Overview
- The 72-hour English auction opened Oct. 27 on Ethereum mainnet for verified accredited investors paying in USDT and reached its roughly $49.95–50 million cap within minutes.
- Reported commitments vary widely, ranging from about $296 million to $360.8 million with some outlets citing higher figures, while the project pegs post-allocation FDV at $999 million.
- The sale offers 500 million MEGA tokens, or 5% of a 10 billion supply, with bids capped near $186,282 per address and minimums near $2,650; Arkham counted 819 max-size commitments early and more than 100,000 users completed KYC.
- Allocation will weigh one-year lockups and social/on-chain engagement, with a one-year lock mandatory for U.S. participants; settlement, withdrawals, and refunds are slated for November.
- The token generation event is at least 40 days after the sale and is targeted for late 2025 or January 2026, and the team disclosed a roughly 4.75% token repurchase from early investors.