#What is the significance of MegaETH's new USDC bridge?
The launch of MegaETH's USDC bridge represents a crucial opportunity for users wishing to pre-deposit USDC to acquire USDM coins. With a substantial cap of $250 million, this initiative allows users to seamlessly deposit their USDC from the Ethereum mainnet and receive USDM in return. This mechanism not only facilitates engagement with the MegaETH ecosystem but also incentivizes early participation through a rewards program.
#How does the allocation process work for USDC deposits?
Depositors can expect a straightforward allocation process. For every USDC deposited, users receive a corresponding 1:1 allocation of USDM. This means that the more USDC users deposit, the greater their USDM allocation, promoting strategic investment decisions. Additionally, participation in the rewards campaign allows users to earn points based on their deposit activities, further enhancing the value proposition of early engagement.
#When does the pre-deposit bridge become available?
Users can take advantage of the pre-deposit bridge starting Tuesday, November 25. This window will remain open until either the $250 million cap is reached or right before the launch of MegaETH's mainnet. It is important to note that deposits are processed on a first-come, first-served basis, allowing users to act swiftly to secure their positions. While participants can make uncapped contributions, they must ensure they register with a KYC-verified wallet associated with the $MEGA public sale on Sonar.
#What are the restrictions on deposits and withdrawals?
Depositors should be aware that only USDC on the Ethereum mainnet qualifies for these transactions. Once funds are committed, they cannot be withdrawn. Upon the launch of MegaETH's mainnet, participants will receive their USDM allocations directly into their verified wallets. Importantly, this transfer occurs without any restrictions or lockups, ensuring immediate access to the assets.