11 months ago
The decentralized societal media level has continued to thrive since it launched successful the 2nd week of August and has deed aggregate caller highs contempt critics predicting its downfall.
Decentralized societal media level Friend.tech based connected Coinbase’s layer-2 protocol Base has touched caller heights successful presumption of gross maturation and full worth locked connected its platform.
According to data from Dune Analytics, Friend.tech gross has surged to 10,663 ETH and its TVL grew to implicit 30,000 ETH connected Oct. 2. The caller roar successful its gross and trading enactment comes amid a diminution successful hype from its aboriginal days of launch.
As a decentralized societal web level launched successful August 2023, Friend.tech enables users to swap "keys" associated to X accounts (formerly Twitter) belonging to their friends oregon influencers. These keys springiness users entree to backstage in-app chatrooms and contented lone disposable from the corresponding X user. Users tin bargain shares successful their friends and influencers connected the platform.
While the conception of a decentralized societal web level with a gross sharing exemplary was lauded by galore successful the Web3 space, the level has besides grabbed the attraction of critics.
Let maine archer you 1 thing.
Something isn’t close astir @friendtech.
Creators making wealth from a radical chat that doesn’t adjacent enactment erstwhile you can’t adjacent reply straight to people?
The mode pricing works is ridiculous and tin beryllium easy taken vantage of.
Pumps and dumps. pic.twitter.com/TJqcktEM6P
The decentralized societal media level has been declared “dead” connected galore ocassions since its motorboat a mates of months ago. One crypto commentator questioned its gross exemplary and gave the platform 6-8 weeks earlier the charm fizzles out. Critics pointed retired that the complaint astatine which the stock prices accrued successful the archetypal mates of weeks makes it unsustainable successful the agelong run.
Related: Pepecoin — Insider trading claims aboveground amid token theft
However, contempt the criticism, the Friend.tech level has continued to spot caller grounds surges successful gross and idiosyncratic growth.
The latest roar successful its gross comes arsenic the idiosyncratic basal with the communicative transactions connected the level surged to 9,200,882. While the existent trading measurement has marked a dip from the surge seen successful the archetypal week of Septermber, the dependable maturation successful gross and TVL suggests the level is inactive garnering traction from the users.
Magazine: Journeys: Hervé Larren connected Bitcoin, Apes and the science of ‘blue-chip’ NFTs
English (US) 