Key Takeaways
- Aster, a decentralized exchange (DEX), is launching “Machi mode,” a new feature that uniquely rewards traders with “liquidation points” for having their positions forcibly closed, or “getting rekt,” embracing crypto’s degen culture.
- The feature is a direct tribute to high-risk investor Machi Big Brother (Jeffrey Huang), who currently leads the liquidation leaderboard with 71 liquidations in the current month, far surpassing other prominent traders.
- Meanwhile, Aster’s competitor, Hyperliquid, has rolled out “HIP-3 growth mode,” an upgrade focused on mass market deployment and cutting taker fees by over 90% for new, permissionlessly launched markets.
Aster DEX Embraces Degen Culture with ‘Machi Mode’
Decentralized exchange Aster is making a bold move to lean into the high-risk, high-reward culture of crypto perpetuals trading with its new feature, “Machi mode,” set to go live next week. This update represents an unprecedented attempt to gamify trading losses by rewarding users who “get liquidated” or “get rekt” with special liquidation points. The announcement was made via an X post, directly dedicating the feature to Machi Big Brother, acknowledging his recent prolific activity in the derivatives market.
This entire move is a nod to the community’s wild acceptance of extreme risk. In crypto, high-stakes liquidations aren’t always a failure; they’re often weirdly worn as a badge of honor.
One user summed it up best: “only in crypto do liquidations become a feature.” That self-aware humor is exactly the unique energy Aster is trying to capture.
The figure they’re honoring is Machi Big Brother (Jeffrey Huang), a controversial Taiwanese-American entrepreneur and former musician known in DeFi for making massive, highly-leveraged bets that regularly end with him getting liquidated.
Machi Big Brother Dominates the Rekt Rankings
The inspiration for “Machi mode” comes from on-chain data that shows Machi Big Brother dominating the liquidation rankings.
According to data from Lookonchain, he has recorded 71 liquidations since the start of the month, a figure far exceeding his closest competitors, James Wynn with 26 liquidations and Andrew Tate with 19. Machi’s volatile trading history has made him a lightning rod for community attention.
High-profile liquidations, like the case of Hyperliquid trader “0xa523” who amassed over $40 million in losses in a single month in September, highlight the financial roller coaster that characterizes this corner of the crypto market. The leaderboard serves as a constant, albeit darkly comedic, reminder of the risks involved.
Competitor Hyperliquid Focuses on Growth and Fee Reduction
In a parallel development showing the intense competition in the decentralized perpetuals space, Aster competitor Hyperliquid has launched its HIP-3 “growth mode.” This upgrade focuses on market expansion and cost efficiency by allowing anyone to permissionlessly deploy new markets on the platform.
The core incentive is a drastic reduction in taker fees for these new markets, cutting all-in fees by more than 90%, from a standard 0.045% down to a range of 0.0045%–0.009%. The system is designed to stimulate liquidity by making trading new or long-tail assets extremely cheap, ensuring that the DEX infrastructure can support a wider variety of assets without the need for central approval.
Final Thoughts
Aster’s “Machi mode” is an audacious marketing and engagement strategy that brilliantly co-opts the “degen” narrative to attract a core demographic of high-frequency, high-leverage traders. This approach contrasts sharply with the technical market-expansion strategy of its competitor, Hyperliquid, highlighting two distinct routes for decentralized perpetual exchanges to compete for volume and mindshare.
Frequently Asked Questions
What is the “Machi mode” feature?
It is a new feature on the Aster DEX that rewards traders with “liquidation points” for having their leveraged positions forcibly closed (getting liquidated).
Who is Machi Big Brother?
He is a Taiwanese-American entrepreneur (Jeffrey Huang) and high-risk crypto investor who is currently the top trader on the liquidation leaderboard, serving as the inspiration for the feature.
How does Hyperliquid’s “growth mode” work?
It allows anyone to permissionlessly deploy new markets on Hyperliquid with dramatically reduced taker fees (down 90%+), aiming to boost liquidity and market breadth.