$MEGA TGE is coming soon. Just 1 more Mafia app needs to launch after this week.

MegaETH has two fun trades going on for me:

First, the TGE itself.

Unlike most L2 tokens, $MEGA has real utility via Proximity Markets.

HFTs, market makers, and probably MEV bots that want to sandwich retail swaps will bid MEGA for sub-1ms sequencer access.

Default mini-blocks are 10ms.

Not sure if it's a staking mechanism or pay-as-you-go tbh. ($OP experimenting with this model too)

So MegaETH needs more trading apps that will use Proximity Markets.

@worldmarketsinc with their CLOB is a clear fit. @GTE_XYZ too. @Euphoria_fi, @valhalla_defi etc. when they launch.

Second cash flow for MEGA is USDM yield → $MEGA buybacks.

But USDM supply is just $62.9M right now. Very low for Mega FOMO.

For buybacks to grow, USDM supply needs to pump.

There's an Aave USDe proposal to list USDe on Aave MegaETH with USDM as the borrowable stable at 90% LTV in E-Mode.

Every loop mints fresh USDM as debt.

This Aavethena leverage should grow USDM fast, assuming farmers aren't afraid by the recent Kelp exploit.

The second fun trade will also help grow USDM supply, and thus $MEGA buybacks:

Old good points campaign.

@bread_ confirmed that 2.5% of $MEGA supply are for mainnet campaign rewards.

We don't know many details but Bread said the campaign will be a targeted campaign like Kamino and not broad TVL pump&dump mode.

So probably whales, funds and only smart retail will get the most of them but still need details on how it works.

So first, play the TGE but don't forget that $MEGA has more under its sleeve than other L2 tokens.

Note: adding posts in the comments on airdrop and TGE

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