Ethereum Layer-2 Network MegaETH Foundation Renames and Allocates $30 Million to Product Development

Shenchao TechFlow News, November 10 — According to The Block, the foundation behind Ethereum layer-2 network MegaETH has renamed itself to MEGA and pledged to allocate $30 million from its existing treasury to develop new products, with its first AI inference marketplace planned to launch in December.

MEGA said all new products will run on MegaETH, and planned network upgrades such as fast finality will also support AI inference products. Co-founder Shuyao Kong said the inference marketplace targets developers, with specific providers and models to be announced at launch.

MEGA's responsibilities also include expanding the utility of the MEGA token, with Kong stating that the team will use the token in applicable scenarios.

Source: Shenchao TechFlow