$MEGA token is live, but the bigger story is what the launch says about the future of L2s. Co-Founders Shuyao and Lei join Bankless to unpack why MegaETH tied its TGE to app milestones, why USDM and proximity markets could become core revenue streams, and how the team is thinking about appchains, AI agents, security, and Stage 2 decentralization.

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TIMESTAMPS

0:00 MegaETH Reaches TGE: KPIs and Milestones
3:10 The 10 Apps That Unlocked Launch
8:12 Composability for New Crypto Apps
11:22 World Markets as MegaETH’s Liquidity Hub
14:13 USDM and the First Revenue Stream
15:59 Co-Location, Low Latency, and Proximity Markets
19:40 Proximity Markets vs. MEV
22:13 Revenue and Token Value Accrual
25:15 Ethereum Decentralization as a KPI
27:40 Token Unlocks and Launch Supply
30:31 Terminal, Incentives, and Flux
32:28 MegaETH vs. Appchains
38:31 Could MegaETH Support Polymarket Scale?
41:12 AI Agents on a Fast, Cheap Chain
47:23 KelpDAO, Arbitrum, and L2 Decentralization
55:38 Life After TGE

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RESOURCES

Shuyao Kong
https://x.com/hotpot_dao

Lai Yang
https://x.com/yangl1996

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