Zack Jamplin

Founder of @cosmos Max value extractooor, occasionally business stabby 🔪

[Zack Jamplin @ZackJamplin]

I am the sun of the @cosmos solar system

[Zack Jamplin @ZackJamplin]

And now they’re building a wallet wtf

[Zack Jamplin @ZackJamplin]

Mega was so arrogant about having it all figured out. They’d shout about being so different, doing things never done.

Turns out not so.

A plain vanilla chain. All the decent apps left. No one cares about overhyped trash like Euphoria.

How much money is the team sitting on?

[Joestar⭐ @JoestarCrypto]

A lot of things to say here

I think MegaETH team made a lot of mistakes

No apps quit a chain with this much potential like that, and yeah, they lost one of the apps with the most potential imho

From the discussions I've had, I think MegaETH is aware of its weaknesses and some of the bad decisions they made recently and are actively working on them

I'm very bullish on what @hellotradeapp is building tho wherever they decide to settle, it doesn't really matter, and @kevtanggg has been one of the most involved founders in the MegaETH community

I'm not gonna lie, this is a tough moment, it's disappointing for a lot of us

But I believe both Mega and HelloTrade will be fine

[Zack Jamplin @ZackJamplin]

@hotpot_dao Yikes

[Zack Jamplin @ZackJamplin]

You’re the one that was endlessly glazing Rushi as a generational entrepreneur, rite?

[Dovey "Rug the fiat" Wan (hiring) @DoveyWan]

I first backed @buchmanster 10 years ago

When he was building @Tendermint_Core, later @cosmos, for a world that had not yet learned how to value industrial-grade consensus layers, which became root architecture for many state of art designs nowadays

Now he’s tackling something even more foundational: a future proof global monetary clearing system

A lot of people talk about the future of money as ideology. Very few founders are willing to go after the actual monetary machinery underneath it, where the deepest network effects ultimately live. That’s exactly why @cyclesmoney is so exiting

Super stoked to be on another 10-year arc with my bro who's work and thinking ages this well

[Zack Jamplin @ZackJamplin]

How about you give back all the money you took out of $OSMO?

Go ahead and drop it in the community pool

[Zack Jamplin @ZackJamplin]

@sunnya97 @notsofast @caschis Cosmos is a ghost town because you and your friends max value extracted from the community

[Zack Jamplin @ZackJamplin]

Easy to armchair quarterback rn, any path will take time.

Was definitely the right move to kill old Cosmos.

Sunny and friends pulled hundreds of millions from the community’s pockets.

Not sure if Cosmos Labs will pull it off, but they definitely shouldn’t listen to old Cosmos

[Zack Jamplin @ZackJamplin]

@mdudas Currently a failing strategy for Megaeth

[Zack Jamplin @ZackJamplin]

@camiinthisthang Really you need to be colombianamaxxing if u can

[Zack Jamplin @ZackJamplin]

Mega played all the hype games, then fooled themselves to thinking they actually have amazing products and experiences.

They fell for their own hype, then didn’t follow through.

[Shuyao Kong @hotpot_dao]

https://t.co/hCYYB8s5uA

[Hokage @73lV_]

organic crime pump 👀📈

how much was the buy back?

how much revenue was generated from USDm?

we need a clearer structure around what you mean by “programmatic.” will future buybacks be based on specific revenue milestones, or what exactly determines when the next buyback happens??

[Anon Vee @AnonVee_]

buy onchain

dump offchain

just like MOVE playbook

[Zack Jamplin @ZackJamplin]

Fentanyl is more fun when you do it together

[Jim Parillo @VelvetMilkman]

tap trading more fun when you do it together

[Zack Jamplin @ZackJamplin]

Everything the mega team does is carefully crafted to insinuate future growth, thereby tricking you into buying their token as a means to create exit liquidity.

This is their end game.

[MegaETH @megaeth]

On May 7th, the MegaETH Foundation completed its first MEGA buyback, using all net rewards accrued from the USDm issuer up until the end of April.

Current USDm supply sits at $480M.

We intend future buybacks to be programmatic and onchain.

[Zack Jamplin @ZackJamplin]

@EltommytoC @blackhaven These guys suck.

Mega are hypocrites sacrificing their community to the extractoooors

[Zack Jamplin @ZackJamplin]

Is anyone actually surprised by this?

People like this have zero intention of creating products that are useful.

They very carefully and painstakingly design products to extract from you.

[Zera @zera_chielo]

I’m a MegaETH maxi, and I have to admit that the ecosystem is not in a good state right now.

Several shady apps are operating openly on the chain, and the biggest red flag to me is: @blackhaven.

I’ll try to explain this most simple way possible:

1. Blackhaven initially marketed itself as the “first ICO” on MegaETH and opened registration for the $HVN presale through Sonar.

2. Shortly after, the team disappeared for nearly two months. Their last activity was on February 17, and they only returned on April 30 to announce that the ICO would be cancelled in favor of a different launch model.

3. On May 2, a token called $RBT suddenly appeared on the market. Multiple wallets had already accumulated large positions before any official public announcement was made.

4. More than 30 minutes later, Blackhaven officially announced that the app was live. By that point, $RBT had already been actively trading for a while.

5. After the announcement, MegaETH users began using the app and “BOND” their $USDm into a token that had already been accumulated cheaply by early wallets.

6. In reality, the “BOND” here basically means "BUY" into the market plus a time lock. The front-end UI was highly misleading.

7. The community was never properly educated beforehand on how the mechanism actually worked. Most users believed they were early participants locking funds in exchange for discounted tokens. To be fair, a 15% discount for a 30-day lock sounded extremely attractive. Yes, people fell for it.

8. The token price eventually surged above $30, then these shady early wallets began heavily dumping. Some wallets made profits of up to $45,000, while community funds remained locked.

9. If the team had good intentions, they could have clearly explained the flywheel and launch structure from the start. Instead, critical details were hidden inside a single document link that most users never even noticed. To me, that reflects malicious intent.

10. The community raised concerns across X, Telegram, and Discord, but the situation was handled very poorly, leading to even more victims.

11. Blackhaven then disappeared again for four days before returning on May 6 with an “educational thread.” By then, the damage had already been done. It felt more like damage control.

12. The token price has now fallen roughly 500% from the levels where many community members bought in.

13. Users who bonded their funds will only receive their $RBT tokens after 7–30 days, and the value will be based on the market price.

MegaETH seriously needs stronger quality control and better user protection before allowing projects like this to operate within the ecosystem.

All of this controversy, damage, and loss of trust happened for barely $300K+ TVL. That is simply not worth damaging the MegaETH brand over.

I realized this is a long read. If you reach this point, thank you. 🙏

The left picture is some of the community's loss.
The right picture is the shady wallet's profit.

[Zack Jamplin @ZackJamplin]

It’s all manufactured games to ponzi you suckers

[munch.mega @munchPRMR]

MegaETH now at about 700m TVL and just passed Avalanche

Top 10 soon?

[Zack Jamplin @ZackJamplin]

Wow featured in Forbes?!?

[Ashish Singh @ashishknows]

Shuyao Kong shared something interesting about founder of Euphoria finance :

“We met Nathan, the other co-founder, and I was really impressed by his background.

Nathan was one of the most prominent MEV traders in the history of Ethereum. He was even featured on Forbes.

I was like, how is this guy so good with transactions on the blockchain?

Later, he went on to start an exchange business that makes it easy for people to on-ramp and off-ramp.

He’s a very seasoned serial entrepreneur and is deeply obsessed with the retail trading experience, which is our thesis as well.”

[Zack Jamplin @ZackJamplin]

On Mega, you aren’t farming the apps, the apps are farming you

[enes.hl @enesonchain]

the thing with $MEGA is team is NOT going to crime it

its just not how they operate, they could pump this to 10b fdv today. but they choose to let community decide on the price

no one is selling, only community and im not blaming anyone i sold my allo as well

but i think its oversold and bottom is in, ill be looking to buy a nice bag and deploy it on liquidity pools to farm fees, wont use kumbaya ofc after their latest fee shit, gonna go with Prism

OMEGA.

[votesa ■ @votesa]

Blackhaven on @megaeth literally encoded a soft rug into their bond contract

every @blackhaven bond auto-routes 10% of your USDm to a wallet the team spends "at their sole discretion"

not my words. their docs.

the actual mechanic:

→ you bond USDm, get RBT vested over a fixed term
→ 90% flows to backing reserves (the part that secures RBT)
→ 10% flows to a separate "protocol reserves" fee address
→ from there, quote, "core contributors will transfer out the fees... based on operational needs at their sole discretion"

translation for normal humans: a multisig the team treats as an expense account. no DAO. no vote. no vest. no cap. no public ledger of what gets pulled or when.

every 10M of TVL = 1M straight to the team. zero accountability. pure greed.

i had to re-read this three times. ten percent. of the body of the deposit. not of yield, not of fees, not of profits. of the principal. who signs off on this??

and the whole thing is wrapped in MegaETH points fomo. "bond your stables, farm ecosystem points, get the airdrop bro." the points are the cheese. the 10% skim is the price you pay for sniffing them.

cherry on top: their main price defense (BAM, the arb module that buys back RBT below NAV) is "not guaranteed to be live at launch." direct quote.

so the team is already collecting their cut while the actual stability mechanic doesn't even exist yet.

for context: even OlympusDAO, the OG bonding protocol that everyone called a ponzi, never took a 10% cut of principal to a discretionary team wallet. their fees ran through DAO governance.

and the part that genuinely stings: this is the protocol getting positioned as MegaETH's "reserve layer." this is what the chain wants to be known for?

NGMI for MegaETH.