The organization formerly known as the MegaETH Foundation, now rebranded as MEGA, has reduced its workforce by 20%. The layoffs primarily affected staff involved in early chain development, wallet creation, and ecosystem support, while the core engineering team remains unchanged.
The company is shifting its strategic focus toward developing first-party products, specifically targeting AI inference. MEGA has allocated $30 million from its existing treasury to fund these new initiatives on the MegaETH network.
The first product, a public AI inference marketplace, is scheduled for launch in December 2026. This platform aims to utilize cryptography to enhance the trustworthiness of AI inference services, with the goal of increasing transparency and competition.
This restructuring follows a significant decline in the MegaETH network's total value locked (TVL), which dropped from a peak of over $245 million in May 2026 to approximately $12 million. The MEGA token was listed on exchanges on April 30, 2026.
