The MEGA token generation event will be triggered 7 days after the USDM supply reaches $500 million. Currently, the supply is only $131 million.

Last week, GMX integrated USDM into the GLV treasury, where each USDM dollar generates government bond yields and is automatically converted into MEGA repurchases.
The pre-market price range is $0.13-$0.50, with most participants locking in for 1 year during the $1.4 billion ICO. A fourfold increase is still needed to trigger the threshold.
This mechanism design is very interesting, combining automatic buybacks with locking pressure.