"Big Brother Moji" Huang Licheng launched the meme currency TAIWAN COIN, which combined with TSMC's stock proxy, triggered heated discussions

"Big Brother Moji" Huang Licheng launched a meme coin called "TAIWAN COIN" on the blockchain in the early morning of the 1st, code-named "TAIWAN". (File photo)

Well-known cryptocurrency investor "Big Brother Maji" Huang Licheng launched a meme coin called "TAIWAN COIN" on the blockchain early yesterday (September 1), code-named "TAIWAN", with a total circulation of 1 billion coins. What’s special about this meme coin is that its main trading pair is not Ethereum (ETH) or stablecoins that are common in the market, but TSMC’s tokenized stock TSM on Robinhood Chain. It immediately triggered heated discussions in the market and the crypto community after it went online.

According to data on the chain, Huang Licheng completed the minting of TAIWAN COIN at approximately 1:46 a.m. on the 1st, and the coin issuance fee was only 0.00055 Ethereum coins (ETH), which is approximately US$1.35 (NT$43). In just about 5 minutes after TAIWAN COIN was launched, the market value once reached US$1.587 million (equivalent to NT$50.4555 million).

However, this wave of enthusiasm did not last long. About 8 to 9 hours later, the market value had fallen back to about US$180,000 (approximately NT$5.7227 million). It fell sharply by about 88% from its high point, and the price trend was like a roller coaster.

It is worth noting that Huang Licheng did not reserve TAIWAN COIN for himself or his team in this coin issuance. According to the data on the chain, after the minting of 1 billion tokens was completed, they were all transferred to the liquidity pool contract at once. Huang Licheng’s personal wallet did not hold any TAIWAN COIN. No other token transfer records were found on the subsequent chain. Huang Licheng’s wallet also did not receive TSM.

Compared with most meme currency projects, issuers usually reserve part of the tokens for themselves or their teams, and may trade or sell them depending on market conditions. Huang Licheng's practice of "investing all the tokens into the liquidity pool" this time is relatively rare, which has triggered various speculations in the community.

Some market participants speculate that Huang Licheng's launch of TAIWAN COIN may not be for profit, but to test or experience the newly launched Robinhood Chain. However, the actual motivation for the issuance remains to be further confirmed.

After the news was exposed, discussions immediately started on the Internet. Some netizens said, "You can make a fortune by cutting leeks," "Uncle," "Don't forget NFT," "New meme coin deadliest," and "Dig holes for others to jump into?" Some people also said in a joking tone that if the token price is to continue to rise, "it should be linked to the Federal Reserve and the price will rise as much as it is printed."