MegaETH Opens Public ICO Registration on Sonar Platform
MegaETH , Ethereum's Layer-2 scaling project, has opened registration for its public Token Sale (ICO) from October 15 and will end on October 27, 2025.
This ICO will be carried out through Sonar – a public Capital platform developed by KOL crypto Cobie with the Echo ecosystem. Some initial information for participants:
- Token auction with 1 year lockup.
- Completion of identity verification (KYC) is required.
- Users in these countries will be banned from participating: Afghanistan, Belarus, Bosnia and Herzegovina, Burkina Faso, Cameroon, Central African Republic, China, Cuba, Democratic Republic of Congo, Ethiopia, Eritrea, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, North Korea, Palau, Russia, Somalia, Sudan, Syria, Ukraine, United Kingdom, Venezuela and Yemen.
- For US users, additional accredited investor requirements are required.
- MegaETH staff are not allowed to participate.
- Payment method: Expected to use USDT on Ethereum Mainnet.
- Token allocation mechanism:
- Most likely an English auction (public auction, the highest bidder wins and buys the item at the final price they offer ) with a fixed price ceiling.
- 1 year Token Lockup option will get 10% discount on final purchase price.
- US users are required to apply for a 1 year lock.
- Most likely an English auction (public auction, the highest bidder wins and buys the item at the final price they offer ) with a fixed price ceiling.
- In case of oversubscription, additional information like social media, GitHub or secondary wallets can help increase the chances of receiving allocation.
However, registration at the time of writing is only for the purpose of "showing" interest, not guaranteeing a place. Details of any future sales rounds will be announced publicly on the project's official website and social media channels in the coming days.
The First Real-Time Blockchain.
— MegaETH (@megaeth_labs) October 15, 2025
Built for you. Owned by you.
Register now. https://t.co/nxFoKeWUVa pic.twitter.com/8KPHRRNFGc
Why is this news important?
MegaETH is a rare layer-2 project backed by big names in the industry, including Vitalik Buterin .
Public ICOs are making a comeback after years of being replaced by private sales and launchpads.
Sonar is a new platform focused on public ICOs, aimed at mainstream investors rather than just funds and newsgroups.
The Token auction format with a 1-year lockup shows an effort to limit short-term speculation.
Previous context
Sonar was deployed in May 2025 by Echo – the platform founded by Cobie.
Echo Capital $10 million for MegaETH through a private sale in late 2024.
Sonar was created to replace the model that relied solely on private sales and expand on the public ICO trend of the 2017–2019 period.
Plasma – a project that opened a public sale on Sonar – raised $373 million and successfully listed on Binance in September 2025.
Community response and potential impact
Many individual investors XEM this as a rare opportunity to get in early on a top-tier project instead of being left behind by investment funds.
The next 2 upcoming big launches are Monad & MegaETH.
— Loopify 🧙♂️ (@Loopifyyy) October 15, 2025
Former is launching next month, latter is probably launching before EOY.
You have a big opportunity to get involved in MegaETH before TGE with their upcoming Sonar launch.
After Plasma, this will most certainly be… pic.twitter.com/UffzP5qZY8
Some are concerned that KYC and country restrictions could make it difficult for users in many regions.
The “English auction” style auction mechanism and the use of USDT on Ethereum can cause transaction costs to increase at peak times.
Locking Token for 1 year (with a 10% discount) forces participants to have a long-term vision instead of surfing.
Conclude
MegaETH is experimenting with a public ICO model that follows legal standards, instead of a private sale to a fund or launchpad.
Sonar emerges as the platform that can revive the ICO trend in a more controlled and transparent manner.
The success of Plasma (XPL) along with MegaETH can be XEM as the emergence of a new generation of initial Capital offering (ICO) models.
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