MegaETH has achieved its first key performance indicator (KPI), which required operating 10 ecosystem apps. As a result, the MEGA token generation event has entered a countdown, targeting next Thursday.

According to a recent report by The Block, the MegaETH team said ahead of a planned March reveal that it would tie the token release schedule to performance-based KPIs rather than a fixed timetable. The KPIs included conditions such as increasing circulation of its native stablecoin USDM to $500 million or meeting app revenue targets.

The threshold cleared this time was the launch of 10 apps nurtured through MegaETH's accelerator programme, Mega Mafia. Apps currently operating on MegaETH include stablecoin payments startup Cap, revenue tokenisation platform Bricks and on-chain lending protocol Aaveon.

The 10 apps did not meet the KPI simply by launching. They must prove a core cycle with real user interaction, with the standard being that each app generates more than 100,000 total transactions over 30 days. Separately, MegaETH is also targeting a KPI in which at least 3 MegaETH-based apps generate more than $50,000 a day in fees for 30 consecutive days.

MEGA has a total supply of 10 billion tokens. Of that, 53.3 percent will be released over time as staking rewards linked to four top KPIs.

The number of apps being nurtured by Mega Mafia totals about 30. Anagram, GSR, Kraken Ventures, Maven11, Robot Ventures and Wintermute provided funding, and Kain Warwick (케인 워릭) and Vitalik Buterin (비탈릭 부테린) also participated as angel investors.