MegaETH News: ‘Euphoria’ Stress Test and Allegations of a Rug Pull
MegaETH Euphoria Stress Test: Can Tap-Trading App Handle 100k TPS?
The newly launched MegaETH network is undergoing its first major trial by fire as the Euphoria trading application pushes the Ethereum L2 to its limits. Following the February 9 Mainnet debut, this gamified platform aims to stress-test its 100k TPS claims when it goes live on February 17.
Marketed as “Real-Time Ethereum,” MegaETH promises sub-millisecond latency and 10ms block times, metrics that rival those of centralized networks such as the BNB Smart Chain. Euphoria, a flagship ‘Tap Trading’ decentralized exchange (DEX), leverages this architecture to facilitate rapid-fire micro-transactions.
In other MegaETH news, a high-profile crypto Twitter trader known as @duonine has accused the MegaETH team of ‘rug-pulling’ the project. It comes after the trader reportedly invested $186,282 into the presale, expecting returns soon after the mainnet launch.
However, the devs have allegedly delayed the previously announced TGE (token generation event) and placed the MegaETH token launch behind a series of KPI’s (Key Performance Indicators), which @duonine believes will take a long time to be met.
Euphoria Tests Real-World Throughput on MegaETH With Innovative ‘Tap Trading’ Platform
While legacy blockchains struggle with congestion, MegaETH’s architecture is built for extreme speed.
This infrastructure is critical for execution on Euphoria, the innovative new ‘Tap Trading’ platform where traders execute thousands of positions in seconds. Prior to the public rollout, testnet stress tests recorded 47,000 transactions per second.
This places the network in direct competition with high-throughput incumbents such as Base and Solana, two of the most widely used chains for their speed and cheap fees.
However, MegaETH’s launch faced early hurdles, including a deposit halt during their $1Bn fundraising drive due to an unexpected technical issue in their multisignature wallet.
The outcome of the Euphoria stress test could redefine expectations for EVM-compatible scaling. Investors will be keeping a close eye on whether MegaETH can sustain the 100,000tps it is aiming for.
As for the Euphoria Tap Trading platform, it is pure degeneracy: traders bet on the live, moving price of a crypto asset, making it incredibly fast-paced and allowing them to make or lose large sums of money in short order.
It is a cross between trading and online casino games and will likely attract a huge user base due to its high-adrenaline, gambling feel. If not careful, though, Euphoria could turn out to be the Pump.fun of 2026, which reportedly extracted multiple billions of dollars from retail investors with its meme coin launchpad in 2025.
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More Drama Surrounding MegaETH as High-Profile Presale Investor Accuses the L2 Project of ‘Rug Pulling’
While there is a lot of positive news surrounding MegaETH right now, with the mainnet launch a few days ago and the much-anticipated Euphoria Tap Trading platform launching in five days, there is growing FUD surrounding the project.
Most of this FUD is coming from one place, around its TGE. While initially slated to launch its MEGA token in January, the launch was pushed back to February 9, the same date as the mainnet launch.
However, this has been delayed even further and is now tied to a set of KPIs that the network must meet before the MEGA token enters the public market.
This has riled presale investors, and none more so than @duonine, a self-described crypto educator and technical analyst with over 77k followers on X.
He took to X and pulled no punches on the changes to the MEGA TGE, saying;
“The team at @megaeth has decided to rug $MEGA. They announced a February 9th TGE, then changed their mind and placed the TGE trigger behind some arbitrary KPIs. What stops them from changing their mind again? Investors had no say in this decision and were misled by the original sale terms, which promised a TGE soon after. No KPIs mentioned.”
Duonine goes on to call out the MegaETH co-founder, calling for a refund option on his $187,000 investment and stating that the KPIs should have been added before the token sale, not after.
Right now, this FUD seems fairly isolated, with some users defending MegaETH and a few siding with duonine. Currently, no one from the MegaETH team has responded to these claims, and attention remains firmly on the Euphoria launch on February 17.
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