MegaETH, the rising high-performance Ethereum Layer 2 network, announced that its public mainnet will go live on February 9th. This is a major milestone for a project that has received a lot of attention in the scaling field.
MegaETH positions itself as Ethereum’s “real-time” blockchain, designed to deliver ultra-low latency and large-scale transaction throughput.
The project has attracted significant attention and funding over the past year. MegaETH is backed by some of the biggest names in the Ethereum ecosystem, including Ethereum co-founders Vitalik Buterin and Joe Rubin, and has raised millions of dollars to date. CoinDesk previously reported that it recently completed a $450 million token sale in October 2025, which was significantly oversubscribed.
The sale provided approximately 5% of the protocol’s 10 billion MEGA supply, with thousands of investors rushing to allocate within minutes, highlighting strong demand for next-generation scaling infrastructure.
The project is being developed by MegaLabs, which raised $20 million in a seed round led by Dragonfly in 2024, pitching MegaETH as a new kind of real-time blockchain rather than a traditional scaling solution.
MegaLabs says the protocol is designed for applications that require near-instantaneous transaction speeds, such as trading platforms, games, and other consumer crypto apps. This is an area where Ethereum has historically struggled during periods of heavy use.
Read more: MegaETH raises $450 million in Ethereum founder-backed oversubscribed token sale
