MegaETH, the much-watched high-performance layer 2 Ethereum network, announced that its public mainnet will go live on February 9, marking a major milestone for a project that has attracted a lot of attention in the scaling landscape.
MegaETH is positioned as a “real-time” blockchain for Ethereum, designed to deliver ultra-low latency and massive transaction throughput.
The project has attracted a lot of attention and capital over the past year. MegaETH has been backed by prominent figures in the Ethereum ecosystem, such as Ethereum co-founders Vitalik Buterin and Joe Lubin, and has raised millions of dollars to date. Most recently, in October 2025, it completed a $450 million token sale that was heavily oversubscribed, CoinDesk previously reported.
This sale, which represented approximately 5% of the protocol’s MEGA 10 billion supply, saw thousands of investors rushing into allocations within minutes, underscoring the intense demand for next-generation scalable infrastructure.
The project is developed by MegaLabs which raised $20 million in a funding round led by Dragonfly in 2024, introducing MegaETH as a new type of real-time blockchain rather than a traditional scaling solution.
MegaLabs said the protocol is designed for applications that require near-instant transaction speeds, such as trading platforms, gaming and other consumer-facing crypto applications – an area where Ethereum has historically struggled during periods of heavy usage.
Read more: MegaETH Raises $450M in Oversubscribed Token Sale Backed by Ethereum Founders
