FriendTech unveils its native token, Friend, on the Base network’s decentralized exchange (DEX), trading at $3. The launch coincides with the release of Version 2 of FriendTech’s platform, introducing “Clubs” powered by Friend tokens to enhance user engagement.
Despite a brief delay, the platform gears up for a token airdrop on May 3, consolidating its position in the decentralized social media sector.
FriendTech’s Token Launch: Decentralized Networking Milestone
The highly anticipated debut of FriendTech’s native token, a key component of its pioneering Web3 social media platform, represents a significant milestone in the advancement of decentralized networking. After extensive development and preparation, the Friend token has been officially introduced and is now actively traded on its decentralized exchange (DEX) hosted on the Base network.
Market data compiled by DexScreener indicates that the Friend token is currently valued at $3 per unit, with a circulating supply of approximately 14.5 million tokens, further solidifying its presence in the decentralized market.
FriendTech has attracted attention for its innovative approach to social networking, particularly through its exclusive networking service utilizing social tokens called “Keys.” These Keys provide users with access to specialized chats and premium content from creators, fostering a sense of community and exclusivity within the platform.
FriendTech initially made waves with its launch on the Ethereum Layer 2 network Base in August, positioning itself as a leader in the emerging realm of decentralized social media.
FriendTech Initiates Token Airdrop with Version 2 Platform Rollout
FriendTech has embarked on a strategic initiative to engage and incentivize its user base by launching a token airdrop alongside the release of its highly anticipated version 2 (v2) platform. This move aims to enhance user involvement and participation within the platform.
Version 2 of the FriendTech platform introduces users to a range of new features designed to enrich their overall experience. Notably, the addition of “Clubs” stands out, providing designated community spaces owned and operated by key holders. Within these Clubs, users can engage in discussions, share content, and cultivate connections within their respective communities.
Transactions within these Clubs will be conducted using Friend tokens, the platform’s native currency, with a nominal 1.5% fee allocated to liquidity providers on the decentralized exchange (DEX). To partake in the token airdrop and claim their portion of tokens, users must meet specific criteria. This includes joining at least one Club and following a minimum of 10 users on the FriendTech platform, encouraging active engagement and community interaction among users.
FriendTech’s Token and Version 2 Platform Launch Faces Delay
Despite initial expectations for an April 29 release, the launch of FriendTech’s token and version 2 platform has encountered a slight delay, with a new release date yet to be announced. FriendTech announced the delay on April 27, citing the need for additional preparations and optimizations as the reason behind the postponement. However, progress remains steady, with FriendTech confirming the completion of the required snapshot for the upcoming airdrop distribution, scheduled for May 3.
Despite the temporary setback, FriendTech continues to hold prominence within the Base network ecosystem, currently ranked as the ninth-largest protocol by total value locked. According to insights from DeFiLlama, FriendTech boasts an impressive total value locked of approximately $30 million, underscoring its significance within the decentralized finance landscape.
As anticipation builds for the impending launch and airdrop, stakeholders eagerly await the next chapter in FriendTech’s journey towards reshaping the future of social networking on the blockchain.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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