MegaETH Ends Mega Mafia Accelerator After Most Successful Projects Move to Other Chains

MegaETH is shutting down its Mega Mafia accelerator program after running it for two years across two cohorts. Core team member Shuyao Kong announced the decision, saying the program had achieved success but was built on assumptions that no longer apply to the project’s current direction.

Program Helped Raise Millions, But Value Didn’t Stay

The accelerator supported around 20 teams building applications on MegaETH, helping them raise a combined $80 million in early-stage funding. Selected teams worked closely with the MegaETH core team, receiving technical, managerial and market making support. Despite this, Kong acknowledged that most of the successful projects incubated through the program are no longer building on MegaETH.

Several notable examples have since moved elsewhere, including a flagship trading platform that launched its own chain, a social attention market that chose to build on Base, and another project that moved to Monad. Some other backed projects appear to have shut down entirely, while a stablecoin project that launched on MegaETH is now pursuing a multichain approach.

Focus Shifts to First-Party Applications

MegaETH did not take equity or governance stakes in any incubated startups, aiming instead to build genuine alignment around its technology. Going forward, the company said it will prioritize building its own consumer-facing applications rather than funding external teams, seeking more direct accountability and control over outcomes.