MegaETH to open pre-deposit window for USDm stablecoin next week

MegaETH is scheduled to open a pre-deposit window for its USDm stablecoin on Tuesday, November 25th, marking the initial phase before the project's mainnet launch. USDm is issued via Ethena’s USDtb rails using Ethena’s Whitelabel system, which is designed so that stablecoin reserve yield can eventually cover sequencer operating costs once the chain is operational. The pre-deposit program has a $250 million cap, with individual deposits being uncapped and processed first-come, first-served. Participation is restricted to users who completed KYC during MegaETH's recent MEGA token sale, and residents of several jurisdictions, including the U.S., U.K., China, and Russia, are excluded. Only USDC on Ethereum will be accepted, and these deposits will remain locked until the mainnet launch, though pre-depositors will receive consideration toward the Rewards Campaign.

(Source：The Block)