MegaETH, a high-throughput Layer 2 network built on Ethereum, has launched its mainnet and unveiled Rabbithole, a unified portal designed to navigate the chain’s ecosystem.
Rabbithole serves as an all-in-one explorer for users to find live and upcoming applications, bridge assets, perform swaps, and track network updates. The launch comes after MegaETH’s stress test in late January, where the network sustained throughput of 55,000 transactions per second and logged over 10.7 billion transactions.
The Layer 2 is targeting up to 100,000 transactions per second using what the team calls “continuous mini-blocks” and a streaming execution engine, with block times ranging from 1 to 10 milliseconds.
Founded in 2022, MegaETH raised $20 million in a June 2024 seed round led by Dragonfly Capital, with participation from Ethereum co-founders Vitalik Buterin and Joseph Lubin.
MEGA, the chain’s native token, won’t unlock at launch, with the team tying its release to ecosystem growth rather than capital raised. The team said distribution and utility will roll out based on usage milestones.
Unlocks will be triggered once one of three KPIs is met: 1) $500 million circulating USDM average over 30 days, 2) 10 MegaMafia apps live on mainnet, or 3) three apps generating $50,000 or more in daily fees for 30 straight days.
Source: https://cryptobriefing.com/megaeth-mainnet-launch-rabbithole/
