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Brief
MegaETH's native stablecoin. Issued on Ethena's USDtb rails. Reserves are ~90% BlackRock BUIDL via Securitize, balance in USDC for redemption. Reserve yield is routed to subsidize sequencer fees on MegaETH instead of accruing to the chain. Roughly $300M circulation pre-launch.
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Recent activity
Latest moves on the changelog feed.
- May 4, 2026NEW
USDm. MegaETH's native stablecoin via Ethena USDtb. ~90% backed by BlackRock BUIDL through Securitize. Stablecoin yield as a public good. Reserve income pays the sequencer.
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Snapshot
Key terms and identifiers.
- Asset classes
- Treasuries
- Token standards
- erc-20
- Jurisdiction
- Global
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Milestones
How this player got here.
- May 2026Native USDm announced for MegaETH via Ethena USDtb
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Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
