Coinbase launches cbMEGA wrapped asset on Base network

Coinbase is adding another wrapped token to its Base Layer 2 arsenal. cbMEGA, an ERC-20 token backed 1:1 by MegaETH (MEGA) held in Coinbase custody, went live on April 30, giving MEGA holders a new on-ramp into decentralized finance without leaving the Base ecosystem. The token joins a growing roster of Coinbase-wrapped assets that already includes cbBTC, cbETH, cbXRP, cbDOGE, cbADA, and cbLTC. How cbMEGA works The mechanics are straightforward. Users send eligible MEGA to Base, where it auto-converts to cbMEGA at a 1:1 ratio. Want your original MEGA back? Unwrap cbMEGA and you’re done. The underlying MEGA stays in Coinbase custody the entire time. The contract address for cbMEGA on Base is 0xcb111E6A2a3bde90856D299d61341ac302167D23, for anyone who wants to verify before interacting. DeFi integrations from day one Coinbase didn’t launch cbMEGA into a vacuum. The token arrived with integrations already lined up across several DeFi platforms on Base, including Aerodrome, 1inch, CoW Swap, and Rainbow wallet. The circulating supply of cbMEGA currently sits somewhere between 17 million and 26 million tokens, with a market capitalization estimated between $650K and $850K. Trading primari...