X @BREAD | ∑:

Stablecoin & Seigniorage - MegaETH is utilizing seigniorage, similar to the US Federal Reserve, to potentially reduce costs [1] - Ethena generates revenue through USDtb reserves, primarily backed by BlackRock's BUIDL fund, USDC, and USDT, having already provided $25 million in revenue [2] - MegaETH's USDm stablecoin aims to redirect seigniorage earnings from its reserves into sequencer operations [3] Market & Revenue Potential - USDm will compete with USDT0 and cUSD, potentially capturing around 7% of MegaETH's stablecoin market share [4] - With a short-term total stablecoin market cap on MegaETH between $3 billion and $5.8 billion, USDm supply could reach $210 million to $400 million [5] - At a 4.5% BUIDL yield, USDm could generate $10 million to $20 million annually for the network [5] - MegaETH has the potential to generate revenue comparable to Arbitrum ($20 million annually) by issuing a native stablecoin [5]