MegaETH launches the yield-bearing stablecoin USDm to subsidize Ethereum sequencer fees

ChainCatcher news, reported by Cointelegraph, Ethereum Layer 2 MegaETH announced a partnership with Ethena to launch the yield-bearing stablecoin USDm. This coin channels reserves into a tokenized U.S. Treasury fund through Ethena's USDtb infrastructure, with the generated yield used to offset the sequencer fees required for L2 on-chain operations and support protocol operations.

The official statement claims that this design will help reduce user fees and expand application space, with specific launch timing and parameters to be announced later.