The MegaETH Foundation has launched a MEGA token buyback, with the first funds coming from the entire net revenue of USDm

The MegaETH Foundation announced that the MEGA token buyback plan has officially launched, and the first MEGA buyback has been completed, using funds from all net earnings generated by the issuer of USDm as of the end of April.

The official emphasized that USDm is not issued or operated by the MegaETH Foundation or MegaLabs. The current supply of USDm is approximately $480 million, and future MEGA buybacks will be executed using a programmatic mechanism as much as possible, running automatically based on preset rules, rather than being timed by the foundation. The scale of funds available for each subsequent buyback is not fixed and will be influenced by changes in the supply of USDm and the yield of underlying reserve assets.