The decentralized exchange Aster decided to play with the riskiest part of trading and bet on ‘degen’ culture. The platform is launching ‘Machi mode’ — a new mode where users earn points for liquidations. The feature will appear on the platform next week and has already sparked a strong reaction in the community.
Liquidations become ‘achievements’
The mode is named after Machi Big Brother — Taiwanese-American entrepreneur Jeffrey Huang, who has become one of the main figures in the world of high-risk speculation. He regularly tops liquidation charts and has become a symbol of aggressive, unrestricted trading.
‘You get points for liquidations,’ Aster wrote on X.
The reaction was immediate. One user wrote:
‘Love the machi mode energy. Waiting for when I can get liquidated and earn points.’
Another noted:
‘Only in crypto do liquidations become a feature.’
Machi Big Brother is leading again
Lookonchain data shows: since November 1, Machi Big Brother has experienced 71 liquidations — an absolute record for the month.
In second place is James Wynn with 26 liquidations, and in third is Andrew Tate with 19.
In the crypto community, these statistics have become a meme. For many, ‘risking it all to the end’ has long been part of the image, and deep drawdowns are a kind of badge of belonging to hardcore traders.
In September, Hyperliquid trader under the nickname 0xa523 overtook Wynn and became the biggest loser on the platform, losing more than $40 million in a month.
Wynn himself also became famous for periods of sharp losses. In July, he disappeared from social media and deactivated his X account after changing his bio to a single word: ‘broke’. A few days later, he returned — and once again opened risky positions.
Competitors are moving too: Hyperliquid launches HIP-3
At the same time as Aster’s announcement, competitor Hyperliquid activated HIP-3 — the ‘growth mode’, which allows any user to launch new markets without permissions and with sharply reduced taker fees.
The update cuts fees by more than 90 percent: from 0.045 percent to 0.0045–0.009 percent for new markets. With high staking and volumes, transaction costs can drop to a record low of 0.00144–0.00288 percent.
To prevent market duplication, new assets must be unique and not overlap with perpetual markets launched by validators. After activating growth mode, it is fixed for 30 days to avoid manipulation.
Degens get their own, and platforms get more activity
The appearance of ‘Machi mode’ confirms the main trend: exchanges are turning high-risk trading into a gamification element. Users increasingly want to experience ‘extreme’ in a controlled environment, and platforms get new sources of engagement.
At the same time, critics warn: romanticizing liquidations can increase risks and lead to more toxic activity. If the mode becomes popular, platforms will have to strengthen safety rules to protect newcomers.
What’s next?
If ‘Machi mode’ resonates with the audience, Aster could form a new segment in the DEX ecosystem — a game-like format for high-risk trading.
And competition with Hyperliquid, which is betting on fees and market expansion, intensifies the innovation race among layer-two platforms.
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