TLDR
- MEGA, the group behind MegaETH, has cut 20% of its staff.
- Total value locked in MegaETH’s DeFi apps is $8.8 million, down from above $240 million.
- MEGA plans to launch a public AI inference market in December.
- The organization has committed $30 million to build AI products on the network.
- Founders and core engineers remain, and decentralization changes are due by March 2027.
MEGA, the organization behind the Ethereum layer-2 network MegaETH, has cut 20% of its staff. The group is shifting its focus toward artificial intelligence products.
Co-founder Shuyao Kong announced the cuts on Friday. She did not say how many jobs were lost or when the layoffs took place.
Over the past few months, we have restructured MEGA to move in a new direction.
We’ve brought together new capabilities and reorganized our teams, a process that has resulted in a 20% reduction in our staff. These are people who helped build MEGA from its earliest days (…
— Shuyao Kong (@hotpot_dao) November 13, 2026
Layoffs and Background
Kong said the reductions affected people who worked on the blockchain, wallet, ecosystem support and communications. She described them as employees who helped build the project from its earliest days.
“We’ve brought together new capabilities and reorganized our teams,” Kong said. She said that process led to the 20% reduction.
The founders, early employees and core engineering team remain with the organization. Kong said they are still committed to the work.
Kong did not directly link the layoffs to the new strategy. The cuts follow months of restructuring at the organization.
Earlier in the week, Kong wrote on social media that staying a chain-only company felt wrong. She said it would have meant ignoring the biggest opportunity in front of the team.
The MegaETH Foundation recently rebranded as MEGA. Its treasury has committed $30 million to build products on the network, starting with AI services.
MegaLabs, the network’s original developer, raised $20 million in 2024 in a round led by Dragonfly. Ethereum co-founder Vitalik Buterin also backed that round.
Last year, MegaETH raised $450 million in a token sale. The sale was oversubscribed.
Activity on the network has weakened since then. Total value locked in its decentralized finance apps is now $8.8 million, down from a peak above $240 million, according to DeFiLlama.
MegaETH was designed to make blockchain apps such as trading and games faster. Its token has fallen more than 70% this year, based on CoinDesk data.
The AI Marketplace Plan
MEGA plans to launch a public inference market in December. Customers would be able to buy access to AI models from competing providers.
Co-founders Yilong Li and Lei Yang outlined the idea in a whitepaper. It proposes ways for buyers to verify which models are being used and to reserve computing capacity at agreed prices.
The paper also addresses concerns about how providers handle customer data. The company has not confirmed which features will be ready at launch.
Kong said the new MEGA products will run on MegaETH. The network aims to complete planned decentralization changes by the end of March 2027.
