MegaETH and Ethena collaborate to introduce the native stablecoin USDm for sequencer fee subsidization

MegaETH has partnered with Ethena to launch USDm, an on-chain stablecoin designed to replace sorter deposits and lower fees. The stablecoin aims to stabilize transaction fees by covering network costs with reserve revenue.

The initial version of USDm will be issued on Ethena’s USDtb protocol layer, redeemable for USDtb. Further details regarding operating expenses and revenue sources like MEV will be provided as the mainnet launch approaches.