By offering these features, Friend.tech ensures that you can stay connected and engaged with your network effortlessly. Friend.Tech has mentioned airdropping points to active users every Friday, with a total of 100 million points distributed over a six-month beta period. These points are recorded off-chain and will have a special purpose once the beta period concludes, which may provide an opportunity for users to earn.
ETHDYDX
With all the hype around this new social media platform and every racing to get on the bandwagon, getting your hands on a Friend.Tech invite code can feel like holding a golden ticket. Friend.tech’s remarkable technological twist comes to the fore through its foundation on Coinbase’s new tech; Base. At the heart of its financial framework lies a distinctive fee structure that amplifies both user incentives and platform growth. The platform thrives on a 10% fee levied on transaction volumes, of which 5% is thoughtfully directed to the individual owning the friend share.
Investors, speculators, and scammers have been holding out during this long bear market, hoping that the next big crypto project will come along and turn their dimes back into dollars. Friend.tech boasts an array of core features that make it a game-changer in the world of social networking. From seamless messaging and video calls to personalized newsfeeds and event management, Friend.tech has it all.
- Beyond a mere social platform, friend.tech is a paradigm shift, a high-signal information aggregator fueled by the discerning judgments of its participants.
- Friend.tech is a hot yet continuously controversial social trading protocol.
- As the ecosystem continues to grow and innovate, social interaction is poised to become the next explosive area for Web3 user growth.
What Is a Cold Wallet？
Engage in communities centered around decentralized platforms, blockchain, or Friend.Tech itself. During the checkout, input the Friend.Tech-generated wallet address as your wallet address, complete the transaction, and voila! I’ll leave it to you to draw your own conclusions about the implications this holds for the future. However, given this situation, now might be an opportune time to start exploring the app and familiarize yourself with its technology stack. Curiosity tends to be rewarded in the world of cryptocurrency, after all. The friend.tech team has decided to reward app testers with airdropped reward points in the upcoming six months before the platform’s official launch.
There has been a mad dash to try to scale the platform’s infrastructure and fix issues as they come up over the last two weeks. From the number of transactions, it is more evident that on-chain transactions have become more active after August 18th. FTX, the failed crypto exchange founded by Sam Bankman-Fried who currently sits in jail while he awaits trial for multiple charges of wire fraud, securities fraud, and money laundering. The crypto-centric VC fund invested $278 million in the exchange, which it later told investors was now worthless. Let’s dive deeper into some of its unique features that make it a standout platform.
Bots exploit low-priced range in Friend.tech
This amount surpasses the earnings of some major players in the field like Uniswap and Bitcoin. The core mechanism behind this success is the platform’s modest 5% fee coupled with its capacity to capitalize on each social connection trade. This infusion of financial energy contributes directly to the share owner’s earnings. He identified three key factors that make the app a significant breakthrough for cryptocurrency. Friend.tech protocol has witnessed significant activities since its (invite-only) beta version launched on August 11, 2023. Eight days later, on August 19, 2023, Friend.tech announced that it had secured seed round funding from crypto venture capital firm Paradigm.
Coin Prices
This situation has raised the entry barrier for regular users to access the Friend.tech platform, as they have to compete with bots in trading. As more people hold KEY, the price that the next person entering has to pay to buy Keys increases. However, the number of holders also increases or decreases with buying or selling. This means that in the case of insufficient subsequent purchases, from the rent expense accountingtools moment of buying KEY, a loss of 10% has already occurred without considering selling taxes.
Certain provocative individuals might exploit this setup to generate higher profits. This could involve using strategies such as spreading fear, uncertainty, and doubt (FUD) to manipulate the situation and increase fees. As of today, friend.tech boasts a cumulative ETH volume of 21,477 ETH, fostered a community of over 100k users, and facilitated close to 1.9m transactions. This resulted in total fees reaching 378 ETH, out of which 189.1 ETH found its way to the protocol, and an equal amount was distributed.
This means that “controversial personalities might earn more or even creating FUD will be used as a strategy to earn fees.” The impact of this pricing curve is that when multiple KEY tokens are purchased, the price can multiply in the short term. Additionally, the high multiplier price attracts more users to participate. Late buyers not only have to bear a 20% friction cost but also face a decline in KEY token prices, inevitably resulting in losses. There is a problem in the Friend.tech community where members generally expect KOLs (Key Opinion Leaders) with more traffic and influence to have higher KEY token value. This expectation has created opportunities for some bots, which analyze data to purchase KEY tokens in advance and then sell them after reaching a certain profit level.
By choosing to launch and issue on BASE, Friend.tech cleverly captures the market’s hotspots and takes advantage of timing dividends. Many think they’ve found that very project in Friend.tech, which has gone viral in the crypto community over the past few days. A leaked database shows that more than 101,000 users have signed up since the invite-only beta version of the app launched on Aug. 10. Friend.tech stands out among other social networking platforms due to its intuitive design, streamlined features, and strong commitment to user privacy.
Regularly monitor hashtags like #FriendTechInvites on social media platforms. As more users join and engage on the platform, the value and utility of the social tokens (keys) may increase, fostering a vibrant and economically incentivized social ecosystem. As the platform grows and more users interact by buying and selling keys, it creates a form of social economy where users can potentially profit from their social interactions and content. Firstly, users aren’t required to download the app through an app store account, which emphasizes decentralization. Finally, the app lets users deposit their ETH once and buy and sell shares without repeatedly signing transactions.
The ingenious deployment as a Safari-based mobile app bypasses the gatekeepers of centralized app stores, ensuring frictionless access for all. The foundation of friend.tech’s growth, intriguingly, can be traced back to a simple action — the “buy share” function that comes at zero cost. Every time a user mints their own share, the platform gains a new member.
