Say Goodbye to Coinbase’s Base Chain: Friend.tech Developing Its Own Network
SocialFi application protocol Friend.tech (FRIEND) has announced that it is parting ways with Coinbase’s Base chain to forge its own path and create its network.
In an exciting development, the team at Friend.tech revealed that they will be teaming up with Conduit, a company specializing in Ethereum (ETH) rollups, to collaborate on Friendchain. This new blockchain will utilize FRIEND as its gas token, offering a unique and efficient platform for users.
“We’re thrilled to be partnering with Conduit on Friendchain, our very own blockchain that will use FRIEND as a transferable gas token. Stay tuned for more updates as we embark on this new chapter in our journey.”
Friend.tech also announced that users can now sign up for the upcoming Friendchain testnet. While no specific launch date has been provided, the community is eagerly anticipating the release of this innovative platform.
Established in 2023, Friend.tech enables users to connect their X accounts to a crypto wallet address, creating a social decentralized finance (DeFi) ecosystem. This platform facilitates direct interaction between fans and creators, offering a unique space for engagement and collaboration.
“With Friend.tech, users can engage directly with creators in ways that were previously not possible. For example, fans can purchase a creator’s Key to initiate a conversation. Additionally, users can speculate on the growth of profiles and creators by investing in their keys.”
Data from Dune Analytics reveals that Friend.tech boasts nearly $9 million in Total Value Locked (TVL) and has attracted over 916,800 users who have completed at least one trade on the platform.
At the time of writing, FRIEND is trading at $0.791, reflecting a 20% decrease in value over the past 24 hours.
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Featured Image: Shutterstock/Yurchanka Siarhei