As I already won my @megaeth IDO bid, might as well break down what I actually bought into and where this thing could land at listing. They raised $50M in the IDO by selling 5% of supply (500M MEGA) at $0.0999, implying a $1B FDV cap. Demand was absurd, 28x oversubscription and 53K+ degens pulling in $1.39B worth of bids. Stack that with another $57M+ from private rounds (Dragonfly, Vitalik, Lubin, Cobie) and the Fluffles NFT sale ($27.7M) → total raise around $200M, putting it near the top of L2 fundraising charts. Pre-market trades around $0.3–0.5 ($3–5B FDV), not bad for a 5x play. What’s priced in: – 100,000+ TPS, sub-millisecond latency – Single ultra-fast sequencer + EigenDA – Full EVM compatibility – Pre-mainnet hype matching Monad but more grounded What’s not priced: – No live mainnet yet (Q1 2026 target) – Centralized sequencer risk – Heavy competition from OP Stack, Base, and zk rollups Structurally, only ~5–10% of tokens are liquid at TGE, while the rest (team + VCs ~24%) unlock over multiple years, keeping early float tight. The numbers line up pretty clean against peers: → Mantle: $3B FDV at listing → Optimism: $6–8B FDV → Arbitrum: $10–15B FDV → Monad (L1): $8–10B pre-TGE hype So a $3–5B FDV at launch looks fair, consistent with current L2 appetite and market sentiment. Anything over $7–10B would be pure momentum premium before mainnet. Let’s see $MEGA’s sitting right where it should be with room to run if the whole “real-time blockchain” thing actually plays out.