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Big Brother Mahjong $BOBAOPPA presale harvest? Money goes into the pledging project to help you manage your finances, acquiring a €70 million luxury mansion

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Big Brother Mahjong $BOBAOPPA presale harvest? Money goes into the pledging project to help you manage your finances, acquiring a €70 million luxury mansion

With the recent completion of the fundraising for the meme coin project $BOBAOPPA by the "Big Brother" Huang Licheng, further controversy has arisen over the allocation of funds to the staking protocol BlazeStake, setting up liquidity pools with only 30% of the presale funds, and even requiring users to bear a 2% to 10% transaction fee for each trade.

Big Brother has launched a token! The "Dog Son" BOBAOPPA has raised nearly 180,000 SOL tokens.

Machi Brother Issues Tokens for Beloved Dog $BOBAOPPA

Always following the latest market trends, Machi Brother didn't miss out on the meme coin craze this time. Previously, through Twitter, he teased the upcoming release of a token for his pet dog, BOBAOPPA, sparking a lot of discussion within the community.

Machi Brother, known for his luck in creating coins, is now issuing tokens for his dog?

However, with the fundraising amount exceeding 200,000 SOL, approximately $38.2 million, the events that unfolded after the token airdrop and trading opening have left the community discontented.

Token Plunges 60% in 1 Hour

Data from Birdeye shows that the BOBAOPPA token reached its peak in the first half-hour of trading and then plummeted by over 60% within the following hour.

It is also evident that due to low liquidity, the token frequently experienced "rug pulls." At the time of writing, the token price had dropped by 65.9% from its peak.

Money Flows into BlazeStake for User Financial Management

In response, the community has mostly directed its criticism towards Machi Brother.

On-chain data shows that he staked 156,000 SOL into the Solana ecosystem protocol BlazeStake, worth over $30 million, accounting for nearly 70% of the total presale amount.

Machi Brother staking 156,000 SOL into BlazeStake

Furthermore, Machi Brother only used around 67,000 SOL from the presale to provide liquidity in a pool, representing only 33.5% of the total fundraising amount, severely limiting liquidity in the token's trading pool.

Transaction Fees Required?

Most notably, Machi Brother even designed a transaction fee mechanism in the trading pool, including dynamic fees ranging from 2% to 10% and a one-way transaction fee of 8.75%, causing traders to lose a significant amount of funds in each transaction.

Machi Brother Makes 50 Million Pounds: Buys a New Dog House

As the $BOBAOPPA project wraps up with profits, Machi Brother shared his newly purchased luxurious villa this morning, claiming it will be used as a new "dog house."

In other users' tweets, he also revealed the staggering price of the mansion, "77 million USD."

According to PANews statistics, Machi Brother's BOBAOPPA project has generated over $31 million in profits from BlazeStake alone, plus earnings from token dumping, resulting in a total profit of around $50 million.

Machi Brother's Past Controversies Resurface

In light of this, Zach, an online detective, released a lengthy article in 2022 titled "22,000 ETH Stolen, Dozens of Projects Failed: Machi Brother's Story," detailing numerous failed crypto projects associated with Machi Brother. The community is recalling many of the projects handled by Machi Brother, including the infamous Formosa Finance fund misappropriation, decentralized community platform Mithril, Squid DAO, and Swag Finance, most of which ended in failure.

Machi Brother Huang Li-cheng accuses online detective ZachXBT of defamation, community donations surpass a million, overwhelmingly supporting ZachXBT

Reportedly, his projects commonly feature characteristics such as anonymous teams, forking from other projects, extreme price volatility, and short lifecycles, earning them the nickname "big chop" within the community.

Whether Machi Brother's latest BOBAOPPA presale controversy will be added to this list of failures remains to be seen in the future.

Machi Brother's self-proclaimed truth: default mansion, denies rug-pulling, BAYC community support, no blame on CZ, Zach needs a lesson