Aster, a decentralized exchange is launching a new product that explores crypto culture’s degen. “Machi mode,” A new feature rewards traders for liquidating their positions.
The announcement of the update set to launch next week was made with an obvious nod towards Machi Big Brother. A Taiwanese American businessman and musician by birth, Huang has become a cryptocurrency high-risk investment with a record of failures.
“You get liquidation points for getting rekt,” Aster wrote In a post published on Wednesday, X added that “this one’s for you, king @machibigbrother.”
“Love the machi mode energy cant wait to get rekt and earn points,” The user repliedAnother user said, “only in crypto do liquidations become a feature.”
Related: Trader loses $21M on Hyperliquid after private key leak
Machi Big Brother is the leader in liquidation ranking
As per data Machi, Big Brother’s Lookonchain account has 71 records of liquidations. This puts him in a far superior position to James Wynn who is second with 26 and Andrew Tate third with 19. In some parts of crypto, high-risk trading has been viewed as an honour.
Hyperliquid trader in September “0xa523” overtook Wynn to become This platform has the largest lossing whale. It lost more than $40 million dollars in under one month.
Wynn was also an important titleholder. In July the trader was briefly absent from social media deactivating his X account Update his bio by simply reading “broke.” After a couple of days, he returned. with two high-risk positions.
Related: Centralized exchanges face claims of massive liquidation undercounts
Hyperliquid Launches HIP-3 “growth mode”
Aster competitor Hyperliquid rolled out HIP-3 “growth mode” On Wednesday, a new upgrade was released that allows anyone to deploy new markets without permission while gaining access to drastically reduced takers fees.
The feature cuts all-in fees by more than 90% for newly launched markets, dropping them from 0.045% to as low as 0.0045%–0.009%. At the highest staking and volume tiers, fees can fall even further, reaching just 0.00144%–0.00288%.
It allows traders and developers to lower barriers of entry by activating growth mode without a centralized approval. New markets that qualify must not overlap existing perpetuals or validator-run assets. “parasitic” volume. Growth mode is locked after activation for 30 days. This ensures stability and helps to prevent fee fluctuations.
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Source: cointelegraph.com
