PANews reported on July 17, according to The Block, that the Ethereum scaling project MegaETH has announced the termination of its flagship incubation program, Mega Mafia, which ran for two years over two cohorts. Core team member Shuyao Kong stated that while the program successfully incubated around 20 teams with total cumulative funding of approximately $80 million, “most of the successful applications are no longer built on MegaETH” — flagship project GTE has decided to build its own chain, Noise chose to launch on Base, HelloTrade shifted to Monad, Avon and Valhalla have shut down, and Cap has adopted a multi-chain strategy. MegaETH operated under a model of taking no equity stakes and not participating in governance, but Kong acknowledged that this approach did not secure long-term project retention. Moving forward, MegaETH will pivot to supporting “first-party applications,” directly targeting end users.
