Friend.tech, a decentralized social media platform built on Base, an Ethereum L2 incubated by Coinbase, is gearing up for the release of its version 2 and the highly anticipated airdrop of its native FRIEND token.
TLDR
As the launch of version 2 approaches, the Friend.tech team has taken a snapshot of points balances, which will be used for the upcoming 100% airdrop of the FRIEND token.Snapshot complete ????
We’ve locked in points balances and unlinking or relinking your Twitter will no longer transfer points. Join us next week for when points go onchain.
If you see any issues with your balance in-app, please contact us at support@friend.tech
— friend.tech (@friendtech) April 26, 2024
The new version of Friend.tech introduces several features, including Money Club, which enables communities to manage shared treasuries and mint tradable onchain collectibles such as NFTs and meme coins.
The platform is rolling out a new points system and custom curves, allowing users to create their own engagement metrics. Small usability updates, like customizable chat spaces with polls, raffles, and visual themes, are also part of the v2 release.
Despite the initial hype surrounding Friend.tech, which briefly made it one of the largest blockchain platforms, the excitement has somewhat subsided, resulting in a decrease in active users.
However, the announcement of version 2 has reignited interest in the platform, leading to a spike in fees, trading, and activity earlier this month.
According to DeFi Llama, the total value locked (TVL) in Friend.tech currently stands at $34.7 million, a significant drop from its peak of $52 million in October 2023.
Nonetheless, the platform has generated over $110.7 million in fees and $55.3 million in revenue to date, with the highest daily fees recorded at $757.1K on April 8, 2024.
The Friend.tech community is eagerly anticipating the launch of version 2 and the airdrop of the FRIEND token, with many speculating about the potential price range of the token.
As the number of users who have initiated at least one trade on the platform has risen to 903,837 and the cumulative total of transactions has reached 13.46 million, the stage is set for an exciting new chapter in the evolution of this innovative SocialFi protocol.
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Author: Oliver Dale
