MegaETH ends Mega Mafia accelerator after two cohorts

MegaETH is ending its two-year Mega Mafia accelerator after two cohorts. The program supported about 20 teams that later raised roughly $80 million across pre-seed to Series A rounds.

Core team member Shuyao Kong announced the decision on X. Kong wrote, “While it was a success in many ways, we believe that the program was built on assumptions that no longer hold.”

Kong added that many high-profile projects from the accelerator are no longer building on MegaETH and that “very little of that value has trickled to Mega.”

MegaETH hand-picked teams that lived and worked closely with the core team and offered technical, managerial and market-making support. The incubated projects progressed to outside funding and independent development paths.

Several flagship projects shifted away from MegaETH. Global Token Exchange chose to build its own chain and has raised about $25 million. Noise launched on Base after a $7.1 million seed round led by Paradigm in January 2026. HelloTrade moved to Monad. Avon and Valhalla appear to have shut down. Cap launched on MegaETH in early 2026 and is pursuing a multichain strategy.

MegaETH launched mainnet in February and tied the release of its MEGA token to the performance of Mega Mafia applications. The token went live in April after 10 apps met stated milestones and showed measurable value to the network.

The accelerator did not take equity or governance stakes in the startups it incubated. Kong wrote that the policy was intended to encourage genuine alignment with MegaETH's long-term goals: “We wanted people to be genuinely bought into the Mega vision and the power of our technology.”

Instead of running a third cohort, MegaETH will reallocate funding and staff to build first-party consumer-grade applications that use its wallet infrastructure and stablecoin. Kong wrote that first-party apps will let the core team build direct relationships with end users and take responsibility for product outcomes.