Serial investor Jeffrey Huang, known for his involvement in previously booming projects like MAYC and BAYC NFT, has pre-announced another asset fair launch. The new project arrived after Huang failed to drive the price of Friend.tech (FRIEND) with aggressive buying.
Crypto investor Jeffrey Huang, also known for his social media personality Machi Big Brother, is onto his next investment. He is involved in multiple crypto and NFT projects and is known for his large-scale, almost reckless approach in attempting to build the next influential value hub.
Machi Big Brother is still hyping up the MAYC and BAYC NFT collections while abandoning the APE token. For the new project, the new Machi personality also uses a Bored Ape avatar in a bid to create a brand-new community.
The new fair token launch is inspired by the drama around meme tokens, where presales and team allocations often hurt retail buyers. Machi Big Brother has not 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 flexing his collection of BAYC NFTs. As a serial investor, his first crypto project was Mithril, which then went on to affect other startups and tokens with its sizable treasury. After creating Formosa Financial, Machi Big Brother returned with another crypto project, Machi X, a decentralized social media platform.
Machi’s fourth project is Cream Finance, one of the more unfortunate platforms that suffered a series of large-scale exploits. Other smaller protocols like Wifey Finance and Swag Finance have been tied to Machi’s participation.
Over time, Machi has shown readiness to join projects early and sway their course in partnership with other big whales. Research by ZachXBT shows that even before joining the Bored Ape Club, Machi was capable of influencing the path of multiple tokens and platforms. Machi Big Brother is also involved in the building of Ape.fi, a DeFi solution for Bored Ape NFTs holders.
No team allo. No cabal allo. No VC allo.
There will be only one 1 round for everyone to buy in at same price.
MACHI coin will be 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 to be revealed, though there are some hints on the potential new token. The new asset will have the goal of being a peer-to-peer payment tool. Machi had to remind users that he is not actually Satoshi Nakamoto and is not responsible for launching Bitcoin.
While the new token does not yet have a ticker, the MACHI name remains the most probable. The project is only circulating on social media and no website or Discord is available yet. The pre-announcement launch arrived just days after Machi Big Brother bought FRIEND in what was considered a final revival attempt. Since then, FRIEND fell again to its baseline of $0.15 with barely any trading volumes.
What is known is that the eventual MACHI token will be using the Baseline Markets technology, and will run on the Blast blockchain. There is no token of the same ticker issued yet, with the exception of a honeypot copycat token with extremely high trading fees.
Machi’s token to automate liquidity
A slow token launch may be a rarity in 2024 when many new assets start off in the meme token casino. Machi Big Brother aims to retain the meme potential of the new project while aiming for locked liquidity and no danger of rug pulls.
The upcoming Machi token will be a partner of Wasabi Protocol, offering decentralized leveraged trading. The Machi token will also be the first curated 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 carries a few million daily transactions but remains a relatively niche platform, with around a tenth of Ethereum’s daily active addresses.
The Blast blockchain received $106M of inflows in the form of wrapped Ethereum. The network currently carries around 192K WETH tokens, a potential source of liquidity for DeFi.
The Blast network currently carries around 846M in value locked, a similar range to Toncoin, which was also closing in on $1B in value locked. Blast carries a niche ecosystem of DEXs, lending, and liquidity protocols. Blast is still a part of the extended Ethereum ecosystem in its role as an L2 solution.
Cryptopolitan reporting by Hristina Vasileva