The public sale of Megaeth: a renaissance without airdrops

Original Source: Namik (Megaeth CSO)

We have built a non-consensus blockchain (this is a pun). On one hand, it pursues high performance by abandoning the old-fashioned broadcast to reach consensus; on the other hand, it takes a non-mainstream, high-performance route in the mainstream narrative.

Megaeth combines centralized block production with maximally decentralized validation, thus upholding the fundamental principles of blockchain in the face of extreme speed. Our architecture is closely tied to Ethereum, and our name even contains the word ETH. Frankly, if Ethereum loses its decentralization, or if its token price goes to zero, our story ends.

These choices stem from objective physical laws. Our North Star is to solve the problem of high performance, not to build a never-ending sci-fi sales pitch.

Megaeth is the only architecture for building all high-speed crypto trading, often referred to as the Endgame. We refuse to compromise, and we extend the same philosophy to the business level.

So, how do you actually build an excellent blockchain?

We need two things:

· Founders: Founders with firm beliefs and perseverance, who can also build epoch-making applications.

· Users: A user base that helps iterate, validate, and scale applications.

The old routine in the past was simple: raise a lot of money from top-tier VCs, offer airdrop bounties, and call it community ownership. After that, pitch the on-chain user numbers to application developers, and ultimately sell air on centralized exchanges. Meaningless testnet interactions make it impossible for us to accurately measure the value these users provide. Worse, it only attracts speculators, not true evangelists.

We chose another way: rolled up our sleeves, took our farming tools, and went to the people. We directly DM technical elite developers on Twitter, and we search everywhere for underestimated founders who want to build without constraints and launch a series of industry-leading applications. Interestingly, quite a few founders in the Megaeth ecosystem started their entrepreneurial journey because we proactively reached out to them.

These teams have raised over 75 millions USD in new categories such as attention markets (like Noise, which trades Mindshare) and tap-to-trade (Euphoira).

Following in Ethereum’s footsteps, we may be the only blockchain where application fundraising exceeds the chain’s own fundraising. Of course, we may also be the only blockchain that started buying back investor shares before TGE.

The second goal is to build a “community”

Frankly, this is a word I didn’t really believe in before the project launched. “Community” lacks a prefix: investors. The original Ethereum community was an investor community. The local Ethereum groups in London, Istanbul, and Milan were all initiated by participants, not by millions of airdrop hunters.

Therefore, we adopted a very retro fundraising approach to ensure equality for everyone. We did not raise funds at high valuations, but instead focused on achieving equal access through aligned interests:

We provided participation opportunities for everyone through some public sales. All investors start on the same footing and jointly contribute to community development.

In addition, we invite active users to participate and co-build the ecosystem based on on-chain activity.

As we prepare to launch the mainnet, a new phase is about to begin. The investor community is expected to become the most dynamic part of the MegaETH network, far surpassing the shares of venture capitalists and the team.

After the mainnet launch, we will provide additional tokens to everyone who participated in public activities, even if they ultimately did not receive a share allocation.

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