Friend.Tech Unveils Second Version and FRIEND Token Airdrop

As the launch of the second version of the Friend.Tech protocol approaches, developers have taken a snapshot ahead of the FRIEND token airdrop for the community.

Data fixed ?
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 exact date of the airdrop remains unknown. The community speculates it may occur when user point balances are transferred on-chain.

Friend.Tech is a decentralized social application based on Coinbase’s L2 solution, Base, integrated with the social network X. Launched in August 2023, the platform allows participants to tokenize profiles as “keys” and trade them.

The new version of Friend.Tech will introduce the Money Club feature, enabling communities to manage shared treasuries and create collectibles like NFTs and meme tokens.

FriendTech V2 is dropping in 1 month.

I bought @0xRacerAlt’s key for $10,000 and digested all his private messages from the past 6 months so you didn’t have to. As the 3rd largest @friendtech key buyer of the past 7D, read on for V2 leaks. ?

Revival arc inbound? ? pic.twitter.com/3sAZnybTxF

— John Wang (@j0hnwang) March 19, 2024

The platform will also feature its own decentralized exchange.

Developers will implement an improved points system and “custom curves.” Minor updates will enhance the user interface, including customizable chats with polls, giveaways, and visual themes.

Social Network Activity

Despite initial excitement around Friend.Tech, interest in the platform waned over time. Less than three weeks after launch, some community members declared the project “dead.”

However, since early April, following the announcement of the second version and rumors of an airdrop, activity on the social network has begun to increase.

According to DeFi Llama, the total value locked in Friend.Tech stands at $34.26 million at the time of writing. At its peak in October, the figure reached $54 million.

Based on the Dune dashboard, since its launch, users of the platform have paid over $24 million in fees. The total number of transactions has exceeded 13 million.

As of April 28, there were only 1,275 active buyers and sellers on the network.

Back in October 7, the Stars Arena application, inspired by Friend.Tech, lost 266,103 AVAX (~$3 million at the time of the attack) due to a “major security breach” in smart contracts.