MegaETH announces termination of Mega Mafia incubation program

According to The Block, the Ethereum scaling project MegaETH has announced the termination of its Mega Mafia incubation program. Core team member Shuyao Kong stated that the program has incubated approximately 20 teams and raised a total of about $80 million, but most successful applications are no longer built on MegaETH. Among them, GTE has decided to build its own chain, Noise will be launched on Base, HelloTrade will turn to Monad, Avon and Valhalla have been shut down, and Cap will adopt a multi chain strategy. MegaETH adopts a model of not holding shares or participating in governance, but this approach has not resulted in the long-term retention of the project.