MegaLabs Introduces USDm Stablecoin to Slash Ethereum L2 Fees

- MegaLabs launches native stablecoin USDm in partnership with Ethena. - USDm designed to stabilize transaction costs and enhance scalability for MegaETH. On September 8, 2025, MegaLabs launched USDm, a native stablecoin, through its Ethereum scaling solution, MegaETH. The company developed the stablecoin in collaboration with the decentralized finance protocol Ethena. USDm uses yield from its reserves to subsidize sequencer fees, which maintains low, predictable transaction costs for developers and users. This innovative mechanism addresses inefficiencies in conventional sequencer margin models and ensures a more sustainable fee structure. USDm builds on Ethena's USDtb infrastructure. It holds its reserves primarily in BlackRock's tokenized U.S. Treasury fund (BUIDL) through Securitize, with additional liquid stablecoins supporting redemptions. At launch, users can swap USDm for USDtb instead of redeeming fiat directly, a process that ensures robust institutional-grade backing and operational flexibility. MegaLabs developed MegaETH as a cutting-edge Ethereum Layer 2 scaling solution. The platform operates with 10-millisecond block times and targets a throughput of up to 100,000 transactions per second (TPS). Its active public testnet has already demonstrated speeds surpassing 20,000 TPS, showcasing significant scalability advancements. By integrating USDm to offset network expenses, MegaETH and Ethena aim to foster a cost-efficient and seamless environment for Ethereum developers and their users. The launch of USDm marks a significant advancement for Ethereum scalability and fee stabilization and reinforces MegaLabs' commitment to optimizing blockchain infrastructure. By addressing cost constraints and improving the user experience, the initiative positions MegaETH as a pivotal player in the growing demand for efficient Layer 2 solutions. USDm not only underlines MegaLabs' technical innovation but also sets the stage for broader adoption of cost-efficient blockchain technologies. The launch is timed perfectly, as Ethereum’s Layer 2 ecosystem continues to gain momentum.