According to TechFlow, on November 5, notzachxbt posted on social media that ZachXBT, a well-known on-chain detective, deployed an ERC-20z token on the Base network on August 19, 2024, which automatically created a liquidity pool using the Zora protocol. This token is part of ZachXBT's latest investigation report and uses Zora's new standards.
A total of about 2,800 versions of the token were minted, and after the minting was completed, the contract automatically deployed these tokens and a portion of the ETH revenue as a locked liquidity pool. All fees belong to ZachXBT.
The token price remained below $10,000 in market capitalization for the first two weeks after minting, and then began to attract the attention of traders. Currently, the token price has reached $1,100, an increase of over 3,000 times from the minting price. Most of the liquidity pool is controlled by a DAO multi-signature wallet.
ZachXBT's supporters have formed a community around this token, creating memes, Telegram groups, and a Twitter account, and even bridging the token to the Solana network for trading.
