MegaETH announces the termination of the Mega Mafia incubation program

According to The Block, the Ethereum scaling project MegaETH has announced the termination of the Mega Mafia incubation program. Core team member Shuyao Kong stated that the program incubated around 20 teams and raised a total of about 80 million US dollars, but most successful applications are no longer being built on MegaETH. Among them, GTE decided to build its own chain, Noise launched on Base, HelloTrade shifted to Monad, Avon and Valhalla have been shut down, and Cap adopted a multi-chain strategy. MegaETH took a non-equity, non-governance approach, but this did not result in long-term project retention.