Not nothing. Although we've admittedly not marketed what we've been up to loudly (intentional) - things are and have been happening. Once Mega decided to fully embrace first party building it meant going heads down to...build products. That requires deep questions on the then-current state, reflection and then expanding the team and restructuring with a renewed focus on key areas. None of those things are very sexy or marketable, but they're extremely necessary and took place. @ZokuTrade is the vertical I'm most excited by presently and combines the market expertise we acquired when we expanded the team with the technical prowess our protocol team already possessed. My opinion is that if MegaETH is going to thrive it needs to continue to push the structural differences it already possesses at the protocol level performance-wise to incorporate app and product-level needs. You can only do that once you've identified micro market structure problems though, and that was not something we possessed internally when MegaETH launched. So we acquired that knowledge. The benefits of that will likely result in protocol-level changes to the network that enhances market structure, liquidity and/or primitives that any trading venues on Mega can leverage because it's a shared execution environment. To me, resources are better spent in this direction. Where MegaETH as a network continues to structurally diverge from all other chains on performance, primitives and features so that builders (including us) can build truly net-new experiences. Running insane incentive spend for the chain, and diluting our team's time away from direct value-accretive initiatives, just didn't make sense in 2026 for our particular org. Non-comprehensive list of things we're continuing to push forward and I believe will make a difference long-term: - Sequencer-embedded oracle from Chainlink - Proximity Markets (productized latency) - USDm integrations - MOSS (just dropped v2) & MOSS CLI - Zoku - REDACTED Another non-comprehensive list of things still doing well and/or I'm excited about on MegaETH: - @brix_money just launched the first ever Turkish Lira carry trade onchain - @Euphoria_fi continues to refine their product and has added several social features - @mnstr is hitting daily ATH volumes - @stompdotgg just dropped v2 which is producing actually, fully onchain pokemon-style battle games for <$0.01 per game - @MNX_fi is about to enter Mainnet Beta for perp trading AI-specific assets (Anthropic pre-IPO, compute, etc) - @userocket_app is also about to enter a beta phase with a net-new trading structure ("distribution markets") - @hitdotone is about to open for v2 after reaching top 10 for interfaces on DefiLlama with v1. Things are quiet, but not dead. As things mature we'll get louder.

How in the eff are we still having the "ETH needs to jack up blob fees" debate? It does not have the pricing power to do this. If you jack up the blob fees, and increase the cost on chains using them (read: those users), they will pivot to EXCEEDINGLY abundant altDA which solves ~all pain points. Users do not care if something is an Ethereum rollup vs a validium vs a 23 validator L1. Robinhood could have launched on Canton and users still would have aped Cashtag. This I can promise.

Separate team after I saw an uptick in their fees on Mega: "We had a couple traders migrating over as fills are a little bit more precise due to mini blocks and also faster latency-wise so the product experience is def a bit better" Great tech has a gravitational weight to it

Dug more into Zcash exploit and think the blast radius is much lower than what I understood on the show. It's not infinite supply mint - it's infinite supply within Orchard (a specific shielded pool). That represents ~25% of total circulating (estimated) and that is the max possible amount that can be counterfeit and removed from the Orchard pool. This is why people are speaking confidently about the exploit having not happened - the flows associated to Orchard would look weird if someone got free ZEC within it and mass exported. If they were doing it consciously before to match inflows, surely they'd do it more heavily now that the gig is up. The next upgrade coming down the pipe will implement a new pool with better soundness that people can migrate too and if everyone is able to migrate you can be fairly certain the exploit was never used - but it is NOT explicit proof that it was never used. You can only infer.

I think the sheer scale required to make them worthwhile is going to shock a lot of people. It far exceeds the capacity of ~all chains. E.g. for Base → Stable transfer costs ~$0.0002 → If you completely filled Base blocks the gas limit with these tx (the point where it would trigger eip1559 gas hikes) it can support ~1.5k TPS → Doing this for an entire year, sustained, generates ~$9.5M A full year of maximum capacity lol. It would only take ~$315M of stablecoin TVL to match that number. Hyperliquid converting their USDC balance to yield bearing is generating 10x that already. Agentic or human payments are a blip of a blip when it comes to make capture. They're basically meaningless. You want agents paying priority fees. You do not want agents transferring stablecoins.

.@Euphoria_fi comes online today. The immediate perspective is that it's a consumer app, but long-term bull is that it's a liquidity bootstrapping device for an options protocol. Pull in consumer with short-dated expiry and slowly extend for pro.

Bigger Terminal map today btw. @xeetdotai - Migrate your cards from Abs @Showdown_TCG - Poker TCG @trychisino - Prize-linked savings @PrismFi_ - DEX @blackhaven - Reserve-backed treasury @getubitel - DePIN internet @GMX_IO - Perps Given the special setup, we reset boosts.