According to a report by Castle Labs, the native stablecoin USDm from MegaETH currently has a supply of approximately $18 million, marking a drop of over 95% from its peak of around $600 million in May this year. USDm was launched through a collaboration between MegaETH and Ethena, with its reserve funds allocated to BlackRock's BUIDL fund. The generated returns are used for MegaETH token buybacks and burns. Based on the current supply of around $18 million and an estimated SOFR of approximately 3.6%, Castle Labs calculates that USDm could generate annual returns of about $650,000. They believe the sharp decline in supply is related to the decreased on-chain activity of MegaETH. https://(wublock123.com)/news/megath-udsm-supply-down-95-to-18m-66496