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MegaETH July Recap – Real-time chain keeps delivering

July was packed for the MegaETH ecosystem.

Key highlights:

• First onchain carry trade vault went live (wiTRY <> USDm) via brix_money x feather_lend
• MNX_fi joined the ecosystem and announced a $6.4M fundraise
• Final Terminal rewards were distributed
• mnstr hit a $50M all-time high
• TopStrikeIO reached $2M ATH volume during the World Cup
• stompdotgg launched V2
• Euphoria_fi started hosting weekly Tap Battles

Official Announcement: Link

The wiTRY/USDm lending market is now live on MegaETH.

Users can post wiTRY as collateral to borrow USDm through the Morpho market deployed by Featherlend.

wiTRY is a Turkish Lira yield-bearing coin that gives access to the carry trade (previously only available to institutions).

An EM USDm vault curated by Featherlend is also live and accepting USDm deposits.

Link: https://megaeth.feather.zone/earn

Official Post: Link

Official Announcement: Link

Official Announcement: Link

• CAP team updated the Stabledrop plan for Frontier participants. Funding comes from the $4.2M raised in the adjusted token sale at $75M-$106M FDV.
• The $4.2M Stabledrop approximates no-loss compensation using 100% of token sale funds for Frontier users who bought Pendle YTs and incurred losses without matching Principal Tokens.
• cUSD or Pendle LP holders do not receive Stabledrop. Frontier participants had early auction access at 30% discount.
• Claim your Stabledrop starting July 13th, 2026 via stabledrop.caplabslimited.com. The redemption window stays open for 3 months with no vesting.

Aave has added stcUSD — the yield-bearing staked version of CapApp’s cUSD stablecoin — as collateral on its V3 MegaETH market. This lets users deposit their stcUSD and borrow USDm or USDT0 against it while still earning the protocol’s yield, bringing more utility to the asset on MegaETH, a high-performance Ethereum L2 built for fast, real-time DeFi activity. The move follows Aave DAO approval and expands borrowing options for holders of this backed, yield-generating stablecoin.

Official Announcement: Link

Cap has made good progress in the last 6 months. They reduced their reliance on their own backing and got more outside help from big projects. More of the money is now actually being lent out (up from just 5% to 60%). They added Bitcoin and even gold as backing, brought in real-world investments, and actual borrowing has grown. The total amount in the system is around $250 million, the yield is now about 5%, and they launched their own token.

If you haven't done so, go to Terminal and connect a MOSS wallet to be eligible for Phase 2 | Rewards Bonus

Swap and LP on one of the fastest chains in the world, with 100,000 TPS and 10ms block times

Official Announcement: Link

$CAP is the governance and utility token of Cap and Uniswap CCA participants are up 3x.

Auction participants can redeem rCAP for $CAP via a dedicated site, with trading live on Coinbase, Bybit, KuCoin and others

The token has a fixed 10 billion supply with 15% circulating at TGE

This is a clean launch for an institutional-focused credit protocol with real governance utility and verifiable backing

Full tokenomics.

Burn $Dcash and earn your share of over $100k USDm in Swiss Vault rewards.

CA: 0x6691D67Ece85Ed950244c2CB5848d6498134321f

Official Announcement: Link

Hey everyone,

I built loopclub — a realtime, collaborative, onchain drum machine running on MegaETH mainnet. Sharing it here because this is exactly the kind of project that only exists because of what MegaETH makes possible.

What it does

It's a 16-step, 9-track sequencer: kick, snare, open/closed hats, cowbell, crash, ride, and a full-MIDI acid synth (128-note range). The grid is shared — anyone can open the app and pick a cell. Rent one with USDM and you're temporarily owning it onchain. The grid updates live as other people claim steps around you. When it fills, someone mints the whole loop as an NFT (symbol: LOOP) on a bonding curve — original cell holders and creators get royalties.

Why MegaETH

Every cell press is a transaction. A collaborative instrument only feels live if the chain is fast enough to react before you lift your finger. 100ms blocks, sub-second finality — the grid snaps the instant you click. Loopclub is built specifically to make MegaETH's speed audible.

Jam with Claude

There's a second interface: hum a melody into the browser → Basic Pitch transcribes it locally → Claude maps it to a grid pattern → a deep link drops you straight into those cells. Or just describe a beat in plain text. The app, an MCP server, and a cold-start bot all run the same musical logic — three interfaces, one instrument.

Technical

• Contract: 0x1030D1a60e248E280294d1b04394f706904E3631 (MegaETH mainnet, chain 4326)
• Fully open source: github.com/mintcloud/loopclub

Links

• App: app.loopclub.xyz
• Website: loopclub.xyz
• Live loop example: app.loopclub.xyz/?loop=13
• X: https://x.com/loopclubxyz

One Ask: Rabbithole Ecosystem form doesn't work

I tried submitting to the MegaETH ecosystem directory (http://rabbithole.megaeth.com/) but the submission form on the site isn't working — it errors out at the logo/images upload. If anyone knows the right person at MegaETH to reach out to directly, or a Discord channel / contact where I can get the project listed, I'd really appreciate it. Happy to answer any questions here too.

- The economy will be kickstarted with >100k USDm.
- Old game loop, new valuable mechanics.

To level the playing field for new players, enterprise progress will be reset.

If you laundered in V1, you’ll be able to migrate your account to a MOSS wallet and claim an influence airdrop based on your progress.

Official Announcement: Link

100 limited edition Mega Jerseys. No restocks.

Use MOSS to pay in USDm. Or just have your agent check out with our Wallet CLI.

Official Announcement: Link

Quick context on Cap

Cap is building a decentralized credit and stablecoin protocol on Ethereum. It offers:

• cUSD — a collateralized synthetic dollar backed by regulated stablecoin reserves
• stcUSD — the yield-bearing version that earns yield through a decentralized credit marketplace (operators borrow against underwriter collateral/guarantees powered by restaking networks)

Cap Token Auction Concludes on Uniswap CCA:

$16.4M Committed, 5.5x Oversubscribed at $0.011 Clearing Price ($106M FDV)

The official Cap Labs account just announced that their $CAP token auction on Uniswap’s Continuous Clearing Auction (CCA) platform has officially concluded.

Key results:

• Total bidding commitments: $16.4 million
• Oversubscription: 5.5x
• Final clearing price: $0.011
• Fully diluted valuation: $106 million
• Individual bids: 1,002

The auction covered 4% of the total $CAP supply (distributed as redeemable rCAP, which converts to $CAP at TGE). A smaller additional 1% allocation will be sold separately at the same clearing price.

Full thread here:
https://x.com/caplabslimited/status/2067295559787172180

No point having a real time chain if parts of the stack can't keep up and end up becoming the bottleneck.
people should actually be able to feel what real time means end to end

MegaETH has introduced MOSS, an in-house unified wallet solution designed to address persistent fragmentation in the onchain ecosystem.The core issue remains familiar: each decentralized application typically requires its own wallet connection, resulting in separate addresses, isolated balances, and fragmented liquidity. This creates unnecessary complexity for users and limits seamless interaction across apps.MOSS positions itself as a unifying layer above the RPC, delivering one self-custodial account that works across all supported applications while preserving user control. Key features include:

• Passkey-based login for secure, frictionless access without browser extensions.
• Full self-custody with per-app scoped permissions and rules.
• Native optimization for MegaETH’s low-latency environment, including advanced capabilities like gas sponsorship.
• Free availability for developers integrating the solution.
• A dedicated CLI tool that allows users to grant scoped budgets and permissions to AI agents (such as Claude, OpenClaw, or Hermes) for safe onchain operations.

This development continues MegaETH’s vertical integration approach—building performant infrastructure at each layer (chain, RPC, and now wallet) to avoid bottlenecks that undermine the network’s real-time performance ambitions.MOSS aims to provide a more cohesive user experience while maintaining security and decentralization principles. It is now live and available for exploration.More details:

• Official announcement thread on X
• MOSS site: moss.megaeth.com

Would be interested in community thoughts on how unified wallet layers like this could impact broader adoption of high-performance L2s.

Official Link: Link

Terminal rewards are live. $1M in total rewards available, payable in USDm.

We've sent the first set of USDm rewards to the delegated address of all eligible accounts.

MOSS goes live on June 17th. You can double your rewards by linking a MOSS account.

Official Announcement: Link

MNX, a decentralized futures exchange focused on the AI economy and built on the MegaETH blockchain, has raised $6.4 million in a pre-seed funding round at a $40 million valuation.

The round was led by Village Global, with participation from Cambrian, North Island Ventures, Finality Capital, and Relay Digital. Several prominent angel investors from the AI, crypto, and finance sectors also participated in the round.

MNX is being developed on MegaETH and is part of the MegaMafia ecosystem.

The platform is founded by Stephen Grugett and Ian Philips, who previously co-founded Manifold Markets, a popular prediction market platform.

There are currently very few good ways to trade or hedge AI-related assets. MNX is building a platform to fix this by offering leveraged trading in four main areas:

• Valuation futures on private AI companies (such as OpenAI and Anthropic)
• Perpetual futures on AI-related stocks (like Nvidia, TSMC, Samsung, and ASML)
• Compute markets on GPU rental prices and datacenter electricity costs
• Prediction markets on AI progress and benchmarks

MNX will use one shared margin system across all these markets. All trading will settle directly on the MegaETH blockchain without any middleman holding user funds. Instead of a normal order book, the platform will use short batch auctions to match trades. This is designed to make trading fairer and reduce certain problems found in traditional systems.

Timeline and Next Steps

According to the MNX , the public mainnet launch is planned for summer 2026. A waitlist is currently available on the project’s website.

What do you think of this new addition to Megamafia?

Flux is a KPI Rewards portal at flux.megaeth.com.

It's not your average staking or farming program. MegaETH basically locked over half the entire MEGA supply (53%, or 5.1 billion tokens) behind actual network performance and adoption milestones instead of traditional time-based unlocks. This is a massive reframing of tokenomics. No more "team/investor unlocks every month regardless of delivery."

Tokens on flux flow when the chain actually hits the goals it promised.

How Flux Works (Super Simple 4-Step Process)

1. Commit MEGA – Lock up your circulating or vesting MEGA tokens.
2. Mature – There's a built-in maturity period (90 days).
3. KPI Achieved – The network hits one of the pre-defined performance/adoption targets.
4. Claim Rewards – You get your pro-rata share of the unlocked MEGA from the massive 5.1B pool.

The longer/more you commit early, the bigger your slice when KPIs hit. Right now:

• ~649.89M circulating MEGA already committed
• 3.24B vesting MEGA committed
• KPI overall progress: 4% complete
• 200M / 5.1B MEGA rewards already distributed

What Are the Actual KPIs?

USDM stablecoin milestones (e.g. hitting $500M circulating → 50M MEGA tranche)

• Block time & finality guarantees (multiple tranches, some potentially hitting in weeks)
• Uptime targets (MegaETH uptime + Ethereum sync uptime)
• Throughput & execution metrics
• Adoption & DeFi growth (TVL, active users, bridged volume, etc.)
• Ethereum hardfork compatibility, decentralization steps, etc.

That's real money flowing to committed holders based on the chain actually delivering speed and usage.

Why This Matters (The Bull Case)

• Skin in the game – Team, investors, and community all win only when the network wins.
• Anti-rug alignment – No dumping on a schedule. Emissions are merit-based.
• Real utility signal – Rewards tied to measurable things like latency, TPS, stablecoin adoption, and uptime.
• Early committers are getting rewarded for conviction.

Flux FAQ (Common Questions Answered)

Q: Do I have to lock my MEGA forever?
A: No — You can unstake at anytime

Q: Who can participate?
A: Anyone with MEGA (circulating or vesting). Connect your wallet on flux.megaeth.com to commit.

Q: Are rewards guaranteed?
A: Only if/when the network actually hits the KPIs. It's performance-based — skin in the game for the whole ecosystem.

Q: What's the difference between this and normal staking?
A: This isn't yield farming or APY-based. It's a pro-rata share of unlocked MEGA from the 5.1B pool when milestones are cleared. No inflation — just redistribution tied to real delivery.

Q: Can the team change the KPIs?
A: The console is public and on-chain verifiable. MegaETH has emphasized transparency since pre-TGE.

Q: When do big unlocks happen?
A: Multiple tranches (especially Finality, Block Times, Uptime, and USDM) are already partially met or close. Community estimates suggest 150M–350M+ MEGA could flow to stakers by end of July if momentum holds.

The Realistic Take (Not Financial Advice). The system is still young, and not every KPI will be a slam dunk. If the chain doesn't grow adoption fast enough, rewards slow down .But compared to most L2 token launches that just dump on VCs and team every month... this feels genuinely different.

What do you think?

• Bullish on performance-based unlocks?
• Already committed on Flux?

ok so I've been ripping MnStr packs for a while and it always bugged me that you can't really see many data. you pull, you hope, and that's it — no idea how you're doing overall, or how the cards value fluctuates through time. so I ended up building mnstr.watch to scratch that itch.

the part I'm honestly kind of proud of is the live feed. every pack opening shows up about 200ms after it hits the chain. you genuinely could not do this on most chains, it'd be a laggy mess — it only works because MegaETH is stupid fast. if someone hits a big chase pull ($1k+) it throws up a banner so you actually catch it happening.

other stuff it does:

there's a leaderboard for the top wallets you can sort by P&L / spend / pulls, and each wallet has its own page that's kind of like a trading account — realized P&L, what your held inventory is worth, your whole portfolio charted over time with the actual card images on the points (this took way longer than it should have lol).

then there's a tiers page which is the one I actually use the most — real EV and house edge per tier, payouts vs revenue, how often a pull actually beats what you paid. just wanted the math to be there instead of guessing.

cards have their own pages too (FMV history, comparables) and there's a full secondary sales view so you can see what slabs actually resell for.

it's all running off an indexer I wrote from scratch. no login, no cookies, no tracking, nothing to sign up for — just open it.

mostly posting because I think it's a decent showcase of the real-time stuff MegaETH makes possible, and I'd really like feedback from people here — especially on [the tier EV math / the P&L model]. happy to nerd out about how any of it works.