MegaETH Foundation to redirect USDM stablecoin yield toward routine MEGA token buybacks

The MegaETH Foundation announced on Friday that it will channel yield generated by its native USDM stablecoin into ongoing purchases of MEGA tokens. USDM, designed with MegaLabs and Ethena and backed by USDtb reserves tied to BlackRock's BUIDL fund, will help fund these buybacks as circulating supply and ecosystem usage grow. The foundation also detailed performance-based conditions for the MEGA token generation event, including USDM supply, app launches, and protocol fee milestones.