CZ pet dog Broccoli ignited the on-chain PVP war, DEV and insider players make a fortune, MEME social experiments spark controversy

Author: Nancy, PANews

The day-long CZ (founder of Binance) pet name riddle drama was finally announced in the early morning of today (February 14). A chain PVP battle with Broccoli (broccoli) as the theme, BNB Chain Large-scale stress tests are coming.

**DEV and insider players feast, community becomes a victim of liquidity

exit**

After TST was mentioned by CZ to soar, CZ's trends became the focus of MEME players. On the morning of February 13, CZ tweeted that she was curious about the operating mechanism of MEME coins and asked whether to just share the pet name and photos, someone would create relevant tokens and question how to distinguish the "official" version. After learning about the mechanism, CZ said, "How things work is interesting. As usual, I need to think about it for a day or so. I respect his privacy or to make dog information public for everyone? Well, I might be able to We will also interact with several MEME coins on BNB Chain."

When someone suggested using random dog photos, CZ responded, no, that would be a cheat. If you want to do it, you have to do it right. This is just sharing a dog's photo and name.

Subsequently, the entire network began to guess the name of CZ pet dogs and began to ambush the related MEME coins to "take up seats" early, and a few tokens even had market value pushed up by thousands or even hundreds of millions of dollars. On that night, CZ preview will release photos of dogs in 3 hours (about 8 pm Dubai time), which will whet the appetite of MEME players. After hours of waiting, CZ finally released the photos of the pet dog Broccoli and the stories between them in the early morning of February 14, and he also said, "I just posted photos and names of my dog. I won't Issue Meme coins in person. It depends on whether the community does this. The BNB Foundation may offer rewards for top MEMEs on BNB Chain, giving LP support or other rewards. Details are still under discussion. More content will be released soon.”

Subsequently, tens of thousands of MEME coins with the same name as Broccoli emerged in BNB Chain, and countless players rushed to this broccoli-themed PVP battle. However, BNB Chain did not withstand this wave of stress tests. The congested network, the stuttering front end, the ground-wide clips... MEME players all said that the experience was too poor. According to the page, BscScan has suspended block data update for about 12 hours.

At the same time, as CZ did not announce the CA (contract address), a large number of tokens of the same name emerged, and investors were dazzled. Even Bounce Brand’s official renamed the MEME coin deployed in advance, joining the craze. The MEME experiment triggered by Broccoli has also become a feast for DEV (developer)/insider players. A large number of Pixiu disks and insider disks are intertwined, and investors have become victims of liquidity exit.

"Rug pulls happen everywhere, they push the market capitalization of a token to $400 million - enough to convince people that this is "that real project" and falsify all the data: holders, transaction volume, and even Created a huge liquidity pool. Then, once retail investors are chasing the rise in FOMO... they start selling, some token market caps even collapse from $400 million to $30 million in a few minutes, insiders bring more than 43 million The dollar left, eventually leaving investors with worthless tokens,” said Pi , a researcher at Web3. According to data analyst Ember Monitoring on the chain, there was a Broccoli creator on BNBChain that only spent 1 BNB to make a profit of 6.72 million US dollars, creating 9,517 times the profit in 24 minutes.

However, the "CZ's Dog" section in Binance Web3 wallet shows that as of the time of publication, the highest market value among the many Broccoli coins is only just over 100 million US dollars. Despite high market participation and hundreds of millions of dollars of funds have poured in, these funds are still relatively scattered and have not yet formed a leading project with a high consensus.

MEME social experiments spark **controversy, CZ responds to continue

learning and building**

While Broccoli makes a lot of market popularity, CZ's MEME social experiment also caused market controversy.

"This aggression will not last." Solana co-founder Toly tweeted that

Sonic Labs Andre Cronje recommends that if CZ really decides to participate in this type of project, it is best to launch an official smart contract and share it instead of letting the community create it themselves, otherwise it may lead to many people posting dozens or even hundreds. Contracts, and then fraudulent community members. In order to avoid indirect losses to the community, it is better to put out a fair version by himself.

Crypto researcher CM pointed out that it is not impossible to do without CA, but the problem is that social experiments must be built in a relatively fair environment, or at least let most people have some gaming experience. BNB Chain lacks the kind of people together like Solana's early years. In order to make the cake bigger, we should quickly share the cake that we have finally brought it to quickly as soon as possible. This change requires some leaders and organizations, and it is difficult to complete spontaneously by the community alone. I personally prefer construction applications, but I do not reject the path of MEME. What I hate is the reduction in the cost of doing evil and the lack of a sense of security brought by a sustainable environment.

"There is an interesting term in psychology called 'Plausible deniability', which describes CZ's state tonight. I tried to bring CZ's idea, and he might be thinking: I just posted a few dogs. Just a picture, like hundreds of millions of dog lovers in the world, I have no fault. I'm even helping my chain and doing an interesting social experiment. I'm very dedicated and avant-garde. But he selectively downplayed it His identity has a huge impact on the community. He is fully capable of deducing everything that will happen tonight. Let the Wandogs compete, this is not even a zero-sum game, but a negative-sum game, countless Pixiu, clips, insiders The small cabals make a lot of profits, while most people make negative profits. Although, posting a picture of a dog is not a problem for ordinary people who post their friends. However, for a crypto exchange CEO, This must not be considered 'no fault'," said Nothing Research partner 0xTodd .

CZ also responded to the community controversy, saying, "Is MEME not entirely community-driven? I don't want to be involved in issuing/operating a MEME coin because I don't have any experience I didn't expect this to be a stress test. But seeing breadth of pressure Testing (created a lot of new MEME coins) and deep stress testing (a contract address has a lot of trading activity) are quite interesting. I think everyone was going to be ready to meet the latter. There is still a long way to go in terms of scalability Go. Progress has never been smooth sailing. We keep learning and building.