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In a statement released by its public mainnet, which will be live Feb. 2, MegaETH, the highly-received high-performance Ethereum layer-2 network that has been widely watched, said it would soon have an audience keynet to use in real life. The milestone is 9 marking the first major milestone for a project that has received much attention in the scaling landscape.
MegaETH positions itself as a “real-time” blockchain for Ethereum, designed to deliver ultra-low latency and massive transaction throughput.
In recent years, the project received a lot of attention and funding from both sides. Prominent Ethereum ecosystem leaders such as Ethereum co-founders Vitalik Buterin and Joe Lubin have supported MegaETH that raised millions of dollars so far, with the most money ever raised. It completed a $450 million oversubscribed, most recently in October 2025, token sale by CoinDesk previously reported.
The sale, which offered about 5% of the protocol’s 10 billion MEGA supply, saw thousands of investors rush into allocations in minutes as they highlighted high demand for next-generation scaling infrastructure. .
MegaLabs is pursuing the project, which raised $20 million in a seed round by Dragonfly in 2024 that has promoted MegaETH as ‘new form of real-time blockchain rather than traditional scaling solution’.
In a statement, MegaLabs has said the protocol is designed for applications that need near-instant transaction speeds (such as trading platforms, games and other consumer-facing crypto apps) an area where Ethereum historically struggled during periods of heavy use.
Read more: MegaETH Raises $450M in Oversubscribed Token Sale Backed by Ethereum Founders
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