Serial investor Jeffrey Huang, known for his involvement in previously booming projects like MAYC and BAYC NFT, has pre-announced a new asset exchange launch. The new project came about after Huang failed to drive up the price of Friend.tech (FRIEND) with aggressive buying.
Crypto investor Jeffrey Huang, also known for his social media personality Machi Big Brother, is on his next investment. He is involved in multiple crypto and NFT projects and is known for his large-scale, almost reckless approach to building the next influential value hub.
Machi Big Brother is still ramping up the MAYC and BAYC NFT collections while ditching the APE token. For the new project, the new Machi personality also uses a Bored Ape avatar in an attempt to create a brand new community.
The new launch of Fair Token is inspired by the drama surrounding meme tokens, where pre-sales and team allocations often hurt retail buyers. Machi Big Brother hasn’t been shy about participating in low-float projects like Blast (BLAST) and Blur (BLUR), but this product promises to be different.
Machi Big Brother is a colorful figure in crypto, often using his collection of BAYC NFTs. As a serial investor, Mithril was his first crypto project, which went on to influence other startups and tokens with its significant treasury. After creating Formosa Financial, Machi Big Brother returned with another crypto project, Machi
Machi’s fourth project is Cream Finance, one of the more unfortunate platforms that has suffered a series of large-scale problems exploits. Other smaller protocols such as Wifey Finance and Swag Finance are linked to Machi’s participation.
Over time, Machi has shown a willingness to join projects early and chart their course in collaboration with other great whales. Research from ZachXBT shows that even before joining the Bored Ape Club, Machi was able to influence the path of multiple tokens and platforms. Machi Big Brother is also involved in building Ape.fi, a DeFi solution for Bored Ape NFTs holders.
No teamalo. No cabal allo. No VC allo.
There will only be one round where everyone can buy in at the same price.
MACHI coin will be the most spiritually pure memecoin primitive.
More details in ~24 hours https://t.co/Vh1Ra80q10
— MACHI (@MachidotXYZ) August 26, 2024
Machi Big Brother combines memes with DeFi
The exact nature of the new Machi project is awaiting reveal, although there are some hints about the potential new token. The new entry aims to be a peer-to-peer payment tool. Machi had to remind users that that’s not really him Satoshi Nakamoto and is not responsible for launching Bitcoin.
Although the new token does not have a ticker yet, the name MACHI is most likely to remain. The project is only circulating on social media and there is no website or Discord available yet. The pre-announcement launch arrived just days after Machi bought Big Brother FRIEND in what was considered a last-ditch attempt at revival. Since then, FRIEND fell again to the baseline of $0.15, with hardly any trading volumes.
What is known is that the final MACHI token will use Baseline Markets technology and run on the Blast blockchain. No token of the same ticker has been released yet, with the exception of a honeypot copycat token with extremely high trading fees.
Machi’s token to automate liquidity
A slow token launch could be a rarity in 2024, when many new assets will launch in the meme token casino. Machi Big Brother aims to maintain the new project’s meme potential while aiming for locked-in liquidity and no danger of back pulls.
The upcoming Machi token will be a partner of the Wasabi Protocol and offer leveraged decentralized trading. The Machi token will also be the first compound airdrop on Baseline Markets.
The Machi asset is also a subtle way to promote Baseline Markets, a new token launch platform on the Blast blockchain. Blast already conducts a few million daily transactions, but remains a relatively niche platform, with about a tenth of Ethereum’s daily active addresses.
The Blast blockchain received $106 million inflow in the form of packaged Ethereum. The network is currently active 192K WETH tokens, a potential source of liquidity for DeFi.
The Blast Network is currently active 846M locked in value, a similar range to Toncoin, which was also approaching $1 billion in value locked. Blast has a niche ecosystem of DEXs, lending and liquidity protocols. Blast is still part of the extended Ethereum ecosystem in its role as an L2 solution.
Cryptopolitan reporting by Hristina Vasileva