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TechFlow, November 28 — According to an official announcement from MegaETH, the project has decided to return all funds raised through its Pre-Deposit Bridge. MegaETH stated that the execution fell short of expectations and was inconsistent with the project's objectives. The initiative originally aimed to preload collateral via the Pre-Deposit Bridge to ensure a 1:1 USDm redemption upon mainnet launch.
According to the official announcement from MegaETH, the project has decided to refund all funds raised through the Pre-Deposit Bridge. MegaETH stated that there were shortcomings in the execution, which failed to align with the project's objectives. The project originally planned to preload collateral via the Pre-Deposit Bridge to ensure a 1:1 USDm redemption upon mainnet launch.
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