Convert Backed IBTA $ Treasury Bond 1-3yr BIBTA to MegaETH MEGA

What is the project about? Backed brings real-world assets (RWAs) such as stocks or ETFs to blockchain rails. For example, our product bIBTA tracks the iShares $ Treasury Bond 1-3yr UCITS ETF, aiming to reflect an index of USD bonds by the US Treasury with 1-3yr maturities. What makes your project unique? Backed issues permissionless tokens (bTokens) that represent ownership of structured products. Backed tokens are 1:1 backed by the underlying assets, held by Swiss third-party custodians, and are bankruptcy remote book-entry securities. History of your project. Backed was incorporated in 2021 in Switzerland due to the regulatory clarity the Swiss DLT Act provided to the project. Backed released its first tokenized product on Ethereum in early Q1 2023. Backed now supports issuance and redemption on many different blockchains. What’s next for your project? Backed is working to create the standard for tokenization with a network of protocols benefitting from RWAs on-chain. What can your token be used for? Backed enables clients to access sustainable, low-risk yields while keeping their funds entirely on-chain. There is no need to go through TradFi onboarding processes or off-ramp crypto to fiat. bTokens are utilized by the likes of Gnosis, Angle Protocol, Ribbon Finance, Aragon, and Blueberry to name a few. Disclaimer: Backed Finance AG and its subsidiary Backed Assets GmbH are not affiliates of or licensed by BlackRock Inc, BlackRock Fund Advisors and any of its affiliates ("BlackRock"). BlackRock is not responsible in any way to bIB01 products. Backed DOES NOT sell its tokens to U.S. Persons or for the account or benefit of U.S. Persons, and tokens are not marketed, offered, or solicited in the U.S. or in any other prohibited jurisdiction. For a full list of prohibited and restricted countries and review of legal documentation, please visit (edited)

MegaETH is the first real-time blockchain, delivering streaming throughput with 10-millisecond latency and up to 100,000 TPS. Developers scale applications with real-time state streaming, while users experience instant transactions. On top of this foundation, MegaETH onboards a new class of applications through its accelerator program, MegaMafia. These applications range from RWA and FX to entertainment finance and complex, fully onchain DEXs. $MEGA is the network token of MegaETH and serves as the economic engine of the ecosystem. Its design rests on two pillars: $USDm, which drives value accrual as capital is deployed across a growing set of native applications, and proximity markets, which monetize access to real-time execution.