{"id":13828,"date":"2024-05-27T11:43:25","date_gmt":"2024-05-27T08:43:25","guid":{"rendered":"https:\/\/forklog.com\/en\/friend-tech-token-plummets-30-amid-migration-proposal-from-base\/"},"modified":"2024-05-27T11:43:25","modified_gmt":"2024-05-27T08:43:25","slug":"friend-tech-token-plummets-30-amid-migration-proposal-from-base","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/friend-tech-token-plummets-30-amid-migration-proposal-from-base\/","title":{"rendered":"Friend.Tech Token Plummets 30% Amid Migration Proposal from Base"},"content":{"rendered":"<p>The co-founder of the decentralized social application Friend.Tech, known by the pseudonym Racer, has expressed a desire to move the protocol from the L2 network Base. The FRIEND token responded with a 32% drop.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/zY7g9_-N_a_XdIO60QILPr81UJIjXXwIVSKPH8pRzQYzBA3iN0Q8q6Y16OfovqBOFW23XpECMAp2bSjgR4p7vU27tb0d8foXm30e_B0wGJ-Z-yxnmzMjeIyqojJRIPU1d_FBUTEFU6dCrHvZvUOwY2s\" alt=\"Friend.Tech Token Plummets 30% Amid Migration Proposal from Base\"\/><figcaption class=\"wp-element-caption\">15-minute FRIEND\/USD chart on BunnySwap. Data: <a href=\"https:\/\/www.geckoterminal.com\/base\/pools\/0x7cfc830448484cdf830625373820241e61ef4acf?utm_campaign=livechart-btn&#038;utm_medium=referral&#038;utm_source=coingecko\">Gecko Terminal<\/a>.\u00a0<\/figcaption><\/figure>\n<p>At the time of writing, the asset is trading at $0.96 with a market capitalization of $91.7 million.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIf you can find a way to move friendly technology from Base without causing serious problems for users, and it works well enough to use, we will pay $200,000,\u201d wrote Racer.<\/p>\n<\/blockquote>\n<p>Later, the founder of Friend.Tech deleted the posts and his account on X, but a user preserved screenshots of the publications.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"vi\" dir=\"ltr\">? Drama c\u1ef1c c\u0103ng t\u1eeb <a href=\"https:\/\/twitter.com\/friendtech?ref_src=twsrc%5Etfw\">@friendtech<\/a>, h\u00f3ng tin b\u00ean d\u01b0\u1edbi n\u00e0ooo<\/p>\n<p>V\u00e0o 11h \u0111\u00eam qua, Racer \u2014 Co Founder c\u1ee7a Friend Tech \u0111\u00e3 hint tr\u00ean X r\u1eb1ng kh\u1ea3 n\u0103ng Friend Tech s\u1ebd r\u1eddi Base<\/p>\n<p>Racer n\u00f3i FT \u0111ang b\u1ecb c\u00f4 l\u1eadp tr\u00ean Base. T\u1eeb l\u00fac sinh ra \u0111\u00e3 b\u1ecb g\u1eafn m\u00e1c ponzi, scam,\u2026 n\u00ean k m\u1ea5y d\u1ef1 \u00e1n\u2026 <a href=\"https:\/\/t.co\/ei0FLXBXMB\">pic.twitter.com\/ei0FLXBXMB<\/a><\/p>\n<p>\u2014 Ph\u1ea1m Ninh (@NickyPham_HC) <a href=\"https:\/\/twitter.com\/NickyPham_HC\/status\/1794921371631530466?ref_src=twsrc%5Etfw\">May 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Racer, the Web3 social network team&#8217;s relationship with Base has been challenging. He claims that \u201cFarcaster investors went crazy, vilifying us\u201d because they did not understand the project&#8217;s concept.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c[They] put a lot of pressure on the team and users. Since then, relations have deteriorated, and we have been ostracized by everything related to the &#8216;Base community&#8217;,\u201d added the social network co-founder.\u00a0<\/p>\n<\/blockquote>\n<p>Base&#8217;s lead developer, Jesse Pollak, acknowledged that the Friend.Tech team felt \u201cisolated and disconnected\u201d from certain parts of the ecosystem.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">my quick thoughts:<\/p>\n<p>\u2014 I love <a href=\"https:\/\/twitter.com\/0xRacerAlt?ref_src=twsrc%5Etfw\">@0xRacerAlt<\/a> and <a href=\"https:\/\/twitter.com\/friendtech?ref_src=twsrc%5Etfw\">@friendtech<\/a><br \/>\u2014 they&#8217;ve repeatedly innovated at the edge of what&#8217;s possible on <a href=\"https:\/\/twitter.com\/base?ref_src=twsrc%5Etfw\">@base<\/a> and showed the way for the industry<br \/>\u2014 their product was incorrectly culturally labeled early on as &#8220;negatively speculative&#8221; by certain parts of the\u2026 <a href=\"https:\/\/t.co\/m7h1cvLDJQ\">https:\/\/t.co\/m7h1cvLDJQ<\/a><\/p>\n<p>\u2014 Jesse Pollak (jesse.xyz) ?\ufe0f (@jessepollak) <a href=\"https:\/\/twitter.com\/jessepollak\/status\/1794787027546001590?ref_src=twsrc%5Etfw\">May 26, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c[The project developers] have repeatedly innovated at the edge of Base&#8217;s capabilities and shown the way for the industry \u2014 their product was initially incorrectly interpreted in the community as &#8216;negatively speculative&#8217;. I will be sad if the team decides to leave the network, but I also respect and will support any choice. This is the beauty of the decentralized online economy,\u201d noted the programmer.\u00a0<\/p>\n<\/blockquote>\n<p>On May 3, the Friend.Tech team launched the second version of the protocol along with the native FRIEND token. Initially, the coin plummeted from $169 to $1.4.\u00a0<\/p>\n<p>In August 2023, less than three weeks after the project&#8217;s launch, some community members declared the project&#8217;s \u201cdeath.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The co-founder of the decentralized social application Friend.Tech, known by the pseudonym Racer, has expressed a desire to move the protocol from the L2 network Base. The FRIEND token responded with a 32% drop.\u00a0 15-minute FRIEND\/USD chart on BunnySwap. Data: Gecko Terminal.\u00a0 At the time of writing, the asset is trading at $0.96 with a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1321,1524,596],"class_list":["post-13828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-base","tag-friend-tech","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=13828"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/13827"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=13828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=13828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=13828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}