PANews reported on December 14 that MegaETH developer MegaLabs completed a $10 million financing through the Echo platform, according to The Block. MegaLabs co-founder Shuyao Kong said that the structure of this round of financing is equity plus token warrants, which is the same as MegaLabs' $20 million seed round in June, and the valuation of both rounds of financing is "9 figures." Kong said that although the over-the-counter (OTC) market's valuation of MegaLabs is "significantly higher," the valuation of the Echo round of financing remains unchanged to prioritize decentralization and community participation.

Earlier news revealed that MegaETH's developer MegaLabs completed a $20 million seed round of financing, led by Dragonfly and participated by Vitalik and others.