The team behind the L2 solution MegaETH has made a strategic decision to shut down its accelerator, Mega Mafia. Project co-founder Shuyao Kong officially announced that the program is ceasing operations after two years, and no new cohort of startups will be launched. During its operation, the accelerator funded approximately 20 teams, which collectively raised around $80 million.
According to information provided by Kong, a significant portion of the most successful applications that went through the program have already left the MegaETH ecosystem. Consequently, the project's leadership decided to reallocate resources and focus on internal development. The primary focus will now be on creating and launching proprietary products, rather than supporting third-party initiatives.
This move reflects a general trend in the Layer-2 solutions market: projects are increasingly moving away from large-scale ecosystem grants and accelerators in favor of more focused work on key technological nodes. In an environment of high competition and the need for rapid market introduction of ready-made solutions, diluting resources to support external teams that may migrate to competitors becomes an unjustified risk.
Expert Opinion
From my perspective, the closure of Mega Mafia is a pragmatic, albeit ambiguous, signal. On one hand, the project loses the opportunity to cultivate a loyal developer base. On the other hand, in the current market realities, where many startups receive funding and move to other networks, such a consolidation strategy seems reasonable. MegaETH is betting on the depth of its own technological stack, which could prove to be a more winning long-term strategy than a race for the number of dApps.