The decentralized exchange Aster is delving into the degen culture of cryptocurrency by launching the "Machi Mode," a new feature that rewards traders with points for liquidations.
This update is scheduled to go live next week and pays direct homage to "Machi Big Brother" (real name Huang Licheng) upon release. He is a Taiwanese-American entrepreneur and former musician who has recently become a high-risk investor in the cryptocurrency space, with a record of multiple liquidations.
"You will earn liquidation points for being liquidated," Aster wrote in a post on X on Wednesday, adding, "This is for you, king @machibigbrother."
"I love the energy of Machi Mode, can't wait to get liquidated and earn points," one user replied, while another user said, "Only in the cryptocurrency space can liquidation become a feature."
According to Lookonchain data, Machi Big Brother has recorded 71 liquidations since November 1, far surpassing the second-ranked James Wynn with 26 and Andrew Tate with 19. This ranking has become a joke among some in the cryptocurrency community, where high-risk trading is often seen as a badge of honor.
In September, Hyperliquid trader "0xa523" surpassed Wynn to become the platform's largest losing whale, accumulating losses of over $40 million in less than a month.
Wynn was also a notable titleholder. In July, this trader disappeared from social media, briefly deactivating his X account after updating his profile to simply "broke." A few days later, he returned with two high-risk positions.
Aster's competitor Hyperliquid launched HIP-3 "Growth Mode" on Wednesday, an upgrade that allows anyone to deploy new markets without permission while enjoying significantly reduced taker fees.
This feature reduces all fees for newly launched markets by over 90%, from 0.045% down to as low as 0.0045%–0.009%. At the highest staking and trading volume levels, fees can be further reduced to just 0.00144%–0.00288%.
The system allows deployers to activate growth mode by asset without centralized approval, lowering the entry barrier for traders and developers. To qualify, new markets must be completely unique assets and cannot overlap with perpetual contracts run by existing validators, avoiding "parasitic" trading volume. Once activated, the growth mode will lock for 30 days to ensure stability and prevent rapid fee switching.
Related: "The crypto winter has arrived" — Mark Yusko analyzes potential future directions
Original article: “Machi Big Brother” leads the liquidation leaderboard, Aster launches “Machi Mode” to reward liquidated traders
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