MegaETH Foundation Initiates MEGA Token Buyback Program

The MegaETH Foundation has announced the official launch of its MEGA token buyback program. According to ChainCatcher, the foundation has completed its first buyback using the total net profits generated by the USDm issuer as of the end of April. The foundation clarified that USDm is not issued or operated by MegaETH Foundation or MegaLabs. The current supply of USDm is approximately $480 million. Future MEGA buybacks will aim to be executed through a programmatic mechanism, operating automatically based on preset rules rather than being manually timed by the foundation. The funds available for each buyback will vary, influenced by changes in the USDm supply and the yield of underlying reserve assets.