If Hyperliquid and Binance are the most conscientious in their treatment of their tokens and holders among projects that have already issued tokens, then Megaeth is undoubtedly the most "Serious" in its approach to token economics among projects that haven't yet issued tokens. This is why the founder of Bankless said that in 2026, they will finally see tokens treated as "equity." Regardless of success or failure, Mega's attempt is commendable - 53% of the supply is only issued when four performance metrics (TVL, native stablecoin supply, degree of decentralization, performance, etc.) are met, rather than according to a fixed schedule. As @hotpot_dao wrote - Mega's success will be defined by the success of many other DApps. This definition is not abstract, but a real economic connection where "without a successful ecosystem, the token must remain locked." PS.1 - I recently experienced Mega's Global Stress Test, and it was incredibly smooth; I almost didn't feel like I was using a "chain." Once Clob Dex launches, there should be many related DApps to play with. I'll share more with you then. PS.2 - I hope that projects like Mega, with KPIs or similar styles—where the team truly has confidence in their ecosystem/application and dares to make such "pledges"—can gradually become the standard for spot listings on Bianance. @heyibinance twitter.com/Wuhuoqiu/status/20...

To be fair, this KPI-based model is worth promoting. The old VC/contractor model is no longer viable. Everyone knows it's all about who runs the fastest.

Yes, I hope this can be made more widespread in the future, and not just based on pure market speculation.