MegaETH, the Ethereum Layer-2 built for faster crypto apps, is abruptly ending its Terminal points program after three weeks and moving its main features into Rabbithole, its app-discovery hub.
The project said in an X post on May 21 that it decided to "conclude the season early" after reviewing Terminal data, though developers didn't say what metrics they saw or what exactly pushed them to end the campaign ahead of schedule.
Week 3 points were distributed as usual, a snapshot was taken, and eligible users will receive a share of a USDM rewards pool based on points and activity that supported MegaETH, the post reads.
- Terminal was supposed to run longer. Its own guide now says Season 1 has ended, but the original schedule listed April 28 to June 23, an eight-week season built around app exploration and point farming.
- The product was mainly a way to push users through MegaETH apps after the MEGA token launch.
- Terminal tracked points, weekly recaps, app usage, and other activity signals, while Rabbithole acted as MegaETH's broader app-discovery front end.
MegaETH tries to simplify the front door
The move comes after a hyped but uneven launch cycle. MegaETH raised attention because it promised very fast Ethereum-compatible execution and attracted major backers, including Ethereum co-founder Vitalik Buterin, Consensys CEO Joe Lubin and crypto VC fund Dragonfly Capital.
In October 2025, its public token sale drew $450 million in bids within hours, with 14,491 participants.
MegaETH allocated 53% of the MEGA token supply to performance KPIs rather than fixed dates. Its token page says KPI rewards are based on outcomes such as uptime, block times, finality, gas used, transaction count, revenue, USDM adoption and decentralization metrics.
In November 2025, MegaETH returned funds from its pre-launch deposit bridge after what it called "sloppy" execution, including a wrong sale identifier and strict KYC rate limits that made the process chaotic for participants.