Vitalik-Backed MegaETH Seeks Self-Sustaining Economy Built Around USDm

Interview with Shuyao Kong, MegaETH co-founder

USDm revenue to subsidize gas fees and fund token buybacks

Emerging-market RWA push targets on-chain finance

AI-enabled Moss wallet set to launch this month

“Gamified trading can find synergy with South Korea”

“MegaETH is more than technical infrastructure. The core is to build a self-sustaining economic structure in which revenue and liquidity circulate within the ecosystem, centered on our native stablecoin, USDm.”

Shuyao Kong, MegaETH co-founder and chief business officer, said that in an interview with Bloombergingbit on May 14. MegaETH is a Web3 project backed by Ethereum creator Vitalik Buterin and Consensys founder Joseph Lubin. The company is building a real-time blockchain designed for ultra-fast processing.

Kong outlined MegaETH’s USDm-based economic model, its strategy for bringing real-world assets from emerging markets on-chain, and its plan to expand the ecosystem through a new wallet, Moss, scheduled for release this month.

USDm links fee subsidies and token buybacks

Kong said MegaETH is aiming to build an ecosystem with a stablecoin-based revenue model and its own economic engine, distinguishing it from existing Layer 1 blockchains.

At the center of that strategy is USDm, MegaETH’s native stablecoin. Backed by BlackRock, USDm serves as the base currency of the MegaETH ecosystem. Revenue generated through USDm is used to subsidize blockchain fees and fund buybacks of the MEGA token.

“When users transact with USDC or USDT on existing blockchains, the revenue goes to issuers such as Circle or Tether,” Kong said. MegaETH, by contrast, uses revenue from USDm to lower users’ network fees or repurchase its native token, MEGA.

He added that many existing blockchains lack compelling applications and do not have an economic engine to keep the ecosystem running. Unlike chains such as Solana, Near and Ethereum, which he described as closer to technical platforms, MegaETH is structured more like an economic system.

Emerging-market RWAs in focus, with products yielding more than 20% annually

MegaETH is targeting emerging markets rather than the more mature market for dollar-denominated tokenized assets. Its strategy is to bring financial assets from Turkey, Latin America and Pakistan on-chain.

“What the market lacks right now is RWA exposure tied to emerging markets,” Kong said. MegaETH plans to bring financial assets from Turkey, Latin America and Pakistan on-chain and scale them, he said, adding that those assets would be a key differentiator for the project.

One example is Brix, a decentralized finance platform built around Turkish money-market funds. Brix offers products with annual yields of more than 20%.

MegaETH is also targeting foreign exchange. “The FX market is the world’s largest financial market, but it requires extremely low latency, which makes it difficult to implement on existing blockchains,” Kong said. With a real-time blockchain architecture and emerging-market RWA onboarding, MegaETH believes it can also build an on-chain FX market.

New Moss wallet due this month as MegaETH targets South Korea

MegaETH plans to launch Moss, a new wallet that will serve as a core interface tying the ecosystem together, later this month. Moss is designed to go beyond simple asset custody and act as an integrated interface linking a range of on-chain services with AI functions.

MegaETH is building a structure that connects its blockchain, dApp ecosystem and wallet within a single framework, unified through the USDm stablecoin. “Moss will serve as an interface connecting the wallet, applications and blockchain environment in a single flow,” Kong said. The company also plans to provide software development kit functions for developers.

Moss will support session keys, social logins and granular permission structures, he said. It was also designed with AI agents in mind. MegaETH wants to use that foundation to build infrastructure for a programmable “agent economy.”

Kong also expressed optimism about South Korea, which he described as an ideal market for expanding the gamification-based trading ecosystem MegaETH is trying to build.

“MegaETH wants to make asset trading itself a more intuitive and enjoyable experience,” Kong said. “The goal is to create a new kind of asset and user experience on-chain.”

“South Korea has a strong gaming culture, so we see it as a market with a strong fit for gamification-based trading experiences,” he added. “MegaETH is building games, entertainment and game-style trading platforms, and we believe that structure has significant room to expand in the South Korean market as well.”