Whitelisted Users Gain Early Access

MegaETH, a highly anticipated Ethereum Layer 2 network, is launching a pre-deposit campaign with a $250 million cap on November 25. The initiative, called the “Genesis Bridge,” will begin just a day after the project finalizes its Initial Coin Offering (ICO) allocations.

The Genesis Bridge will allow users to lock up assets on the new network ahead of its official launch. In return for their early participation, depositors will earn rewards in the form of MEGA tokens. According to a representative for the project, access to the deposit bridge will be limited to whitelisted users.

The whitelist has been compiled from over 300 communities, including EigenLayer restakers, users of top decentralized applications (DApps), and various NFT communities. To attract significant capital, the Genesis Bridge is structured to reward larger depositors with a higher allocation of MEGA tokens.

Timeline and Early Market Activity

The pre-deposit campaign is scheduled to run for one month. Following its conclusion, the MegaETH team plans to launch the main network in January or February 2025.

Even before the token’s launch, a pre-market for MEGA is already active on Hyperliquid, a decentralized derivatives exchange. This allows traders to speculate on the token’s future price. The derivative contract tracking MEGA’s anticipated value reached a high of $5.3 billion at the beginning of November, signaling strong market interest in the project.