Tech
Friend.tech Develops Friendchain, Uses $FRIEND as Gas Token
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Friend.tech, a decentralized social media platform built on the Base network, announced Friday that it is developing its own blockchain, called “Friendchain,” in partnership with Conduit, a crypto-native infrastructure platform. $FRIEND, Friend.tech’s native token, is poised to power the new blockchain.
We are happy to collaborate with @conduitxyz on Friendchain, our blockchain that uses $FRIEND as a fully transferable gas token.
We’ll keep you updated with all the information you need over the coming months as we develop this exciting new chapter. photo.twitter.com/HRa26vfFEX
— amico.tech (@friendtech) June 8, 2024
Launched in August 2023, Friend.tech has quickly become a major player in the SocialFi arena. The platform’s unique model allows users to purchase keys linked to their social media accounts, facilitating direct interactions with influencers.
Key purchases not only grant access to the chat, but also generate financial benefits, such as a share of transaction fees and reward points that can lead to token airdrops.
After launching its second version and a token airdrop campaign last month, Friend.tech has solidified its position at the forefront of the SocialFi movement. Despite a recent 20% drop in total value locked, the platform is still leading the SocialFi trend with nearly $10 million in TVL as of June 8, according to data from DeFiLlama.
At the time of writing, $FRIEND is trading around $0.95, up 15% over the past 24 hours, according to CoinGecko data.
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