MegaETH and Ethena Launch USDm Stablecoin to Reduce Fees
- MegaETH has launched its first native stablecoin, USDm, in partnership with Ethena.
- USDm is built on Ethena’s stablecoin SaaS stack and integrates into wallets, apps, and onchain services within the MegaETH ecosystem.
- The stablecoin is backed by BlackRock’s tokenized U.S. Treasury fund BUIDL and liquid stablecoins for redemptions.
- Reserve yield from USDm is used to cover sequencer operations, allowing MegaETH to operate at cost with predictable sub-cent fees.
- Shuyao Kong, MegaETH co-founder, stated that the launch lowers fees while expanding application design space.
MegaETH’s introduction of USDm aims to reduce transaction fees and enhance the network’s economic model by leveraging BlackRock-backed reserves for operational costs. The integration of USDm into various services within the ecosystem promises a more efficient financial structure.
Source (3.2)https://cryptobriefing.com/megaeth-launches-native-usdm-stablecoin-with-ethena-to-subsidize-sequencer-fees/?rand=59535
