Earn $150,000 in 1 minute, can NFTs help him capture the "Golden Dog" again?

Author: Cookie, BlockBeats

In a sluggish market, there are still remarkable stories of sudden wealth every day. On the last day of July, "Brother Sun" 0xSun made a staggering $150,000 in just one minute.

This impressive achievement also caught the attention of foreigners, such as the well-known KOL in the English-speaking community @CirrusNFT:

The editor immediately went to take a serious look at the entire process. As 0xSun mentioned in his tweet, his previous experience with FLC (Note: Floor Protocol, a protocol that allows ERC-721 small images to be fragmented into ERC-20 Tokens for trading) helped him discover this huge arbitrage opportunity. It can be said that "Brother Sun," compared to other players rushing for "shitcoins," not only acted quickly but also leveraged his rich experience in NFTs to achieve great success.

As 0xSun said, the deployer of this Token $BAYC is Ape Finance: Deployer, and at the beginning, the address 0x6B8c262CA939adbe3793D3eca519a9D64f74D184 added 72 ETH to the $BAYC pool. For an average "shitcoin" player, this is already enough to degen a bit.

The identity of this big player is something the editor couldn't match up, but this address had previously deposited 1000 ETH into Blast.

In addition, this address also holds 451 DeFi Apes, which is the NFT series of the $BAYC contract deployer Ape Finance. NFT players might still remember DeFi Apes because at the beginning of 2023, "Brother Ma Ji" Huang Licheng had crazily promoted this project, and everyone basically believed that he was actually behind it.

The product offered by Ape Finance is essentially based on lending against $APE (the "monkey coin" of BAYC). Since May 2023, the project's official Twitter had only tweeted once in November last year, and then it continued to remain silent until May of this year when they launched a feature to bridge NFTs from the Ethereum mainnet to Blast, and then just this past Monday, they launched a feature to bridge NFTs back from Blast to the mainnet.

It can be said that the Ape Finance project is basically in a state of lying flat… For this new contract, the official Twitter had no announcements or prior hints. The editor also searched in the project's Telegram group and their forum, and both places were basically in a half-dead state with no one talking.

The price of $BAYC skyrocketed tenfold within five minutes of opening, and then 0xSun quickly sent it away after discovering that its contract had a "token conversion" feature.

From the records on Etherscan, we can also see that the name of the contract is "BAYCExchange," so in fact, the "shitcoin" players mistakenly took a new feature that Ape Finance launched, which is suspected to be a BAYC "token conversion," as a "shitcoin" that was surging, and 0xSun was the first to discover this.

After 0xSun first deposited BAYC to exchange for $BAYC, vasechka.eth also discovered it.

vasechka.eth first repaid the loan from Blend to retrieve his lent BAYC and then exchanged it for $BAYC. The first transaction successfully turned about 9.15 ETH into about 19.36 ETH. He then retrieved another BAYC, but this time the profit was less than 1 ETH. He then added 8 ETH of $BAYC and successfully flipped it for a profit of 3 ETH.

Such operations are difficult for average players to replicate. Apart from the cost of buying BAYC, another risk cost that cannot be ignored is whether there are issues with the contract itself. The editor vividly remembers the former "White Lotus," where the dev launched the staking contract on the mainnet without testing it on the testnet, resulting in a missing bracket in the contract code that locked all players who rushed in early, preventing them from withdrawing their deposited ETH. At that time, over a million dollars were locked…

So, this was a victory achieved with quick reflexes and bravery.

Finally, at 2:40 AM today, Ape Finance finally announced on their official Twitter that $BAYC is what they launched------they aren't even doing "token conversion," it's really just a meme Token for depositing BAYC to exchange…

Holding BAYC feels very "ma ji." Is there a possibility that the on-chain high players disrupted the plans that "ma ji" was secretly preparing? And the editor believes that this $BAYC may not be over yet; it might affect the price of BAYC NFTs and lead to profits in both directions…