[Digital Today reporter Chi-gyu Hwang] Ethereum layer2 project MegaETH is ending its flagship accelerator program, Megamafia, after two years and two cohorts.

According to a recent report by The Block, core team member Shuyao Kong (슈야오 콩) said on social media platform X (Twitter), "In many ways Megamafia was successful, but I think the assumptions we made when we first designed the program are no longer valid."

The program was designed to nurture founders building new apps that are possible only on MegaETH.

It has supported about 20 teams so far. MegaETH said the teams raised about $80 million, from pre-seed to Series A.

But Kong said, "In many ways Megamafia was the best incubator this cycle. But most of that value did not flow into Mega. Most of the successful projects we nurtured are no longer developing with us."

In fact, many well-known Megamafia projects are developing on platforms other than MegaETH. Flagship project GTE decided to build its own chain after completing the first Mafia program. GTE raised $25 million across multiple rounds.

The social media attention market Noise launched its service on Base after raising a $7.1 million seed round led by Paradigm in January 2026. HelloTrade chose Monad. Avon and Valhalla, which MegaETH backed, shut down. Stablecoin project Cap launched on MegaETH in early 2026 but is pursuing a multichain strategy.