TLDR
- MegaETH ended the Mega Mafia accelerator after completing two cohorts over two years.
- The program supported about 20 teams that raised roughly $80 million across several funding rounds.
- Core team member Shuyao Kong said most successful applications no longer build on MegaETH.
- GTE moved toward its own blockchain, while Noise chose Base and HelloTrade selected Monad.
- MegaETH did not take equity, governance rights, or ownership stakes in participating startups.
- The project will now direct funding toward first-party consumer applications and direct user relationships.
- Future support will focus on OMEGA applications built specifically for MegaETH’s infrastructure.
MegaETH has ended its Mega Mafia accelerator program after completing two cohorts, citing changes in ecosystem priorities and builder incentives. Core team member Shuyao Kong said many successful graduates eventually pursued development outside the network despite receiving extensive support. MegaETH will now redirect resources toward first-party consumer applications instead of launching a third accelerator cohort.
Accelerator ends after two completed cohorts
Core team member Shuyao Kong announced the program’s closure through a post on X. She said the initiative succeeded in several areas despite changing assumptions.
She added, “While it was a success in many ways, we believe that the program was built on assumptions that no longer hold.”
After spending the last two years building the MegaMafia, we’ve decided to sunset the program.
While it was a success in many ways, we believe that the program was built on assumptions that no longer hold.
Here are some reflections, and what’s coming up next.
> We had real…
— Shuyao Kong (@hotpot_dao) July 16, 2026
The accelerator backed about 20 early-stage teams during two separate cohorts. Those startups later secured roughly $80 million across pre-seed through Series A funding. MegaETH selected participants and provided technical, operational, managerial, and market support during development.
Teams lived and built alongside the core developers throughout the incubation process. The program focused on creating early applications designed around the network’s technical capabilities. Kong described the accelerator as highly effective, yet noted limited ecosystem retention after graduation.
Graduates pursued different blockchain strategies
Kong said several successful projects eventually chose different blockchain strategies after completing the accelerator.
She wrote, “most of those applications are no longer being built with us.”
MegaETH therefore reconsidered whether the original model still supported long-term ecosystem goals.
Global Token Exchange later decided to develop its own blockchain after completing the first accelerator cohort. The company has raised $25 million through multiple funding rounds. Noise selected Base after securing a $7.1 million seed round led by Paradigm.
HelloTrade chose Monad for development, while Avon and Valhalla appear to have stopped operating. Cap launched on the network before expanding through a multichain strategy. Kong also confirmed the accelerator never accepted equity, governance rights, or ownership stakes from participating startups.
Ecosystem strategy shifts toward direct development
Kong explained the previous model relied on external teams creating lasting value for the broader ecosystem. MegaETH will instead emphasize first-party consumer applications with direct user relationships. She said this approach provides greater accountability alongside clearer ownership of project outcomes.
The team will continue supporting applications built around wallet infrastructure and stablecoin services. Kong said future efforts will prioritize OMEGA applications that only function on the network. MegaETH considers those products central to its updated ecosystem strategy.
The network launched its mainnet during February before releasing its token during April after meeting ecosystem milestones. MegaETH linked the token rollout to application progress before completing the launch process. The latest decision closes the accelerator while shifting development priorities toward internally driven consumer products.
