Base Protocol

<p>Friend.Tech, the social media site on Base network, launched V2 update and its own token, FRIEND, on May 3rd, 2024. This update brought new stuff like Clubs and a better social experience. But, there were problems during launch, like tech issues, token price drop, and many users feeling let down.</p><p>Friend.Tech V2 V2 brought new features, like &#34;Clubs.&#34; These are community spaces run by users. You can make many clubs and set fees for joining using a bonding curve. Also, a 1.5% fee on every deal goes to those providing liquidity on the site&#39;s exchange.</p><p>Before launch, some info leaked about a token called &#34;POINTS,&#34; for making clubs and stuff. But, it wasn’t part of the launch. This confused folks about where the token stuff was going.</p><h2 id="header-0">The launch had problems:</h2><ol><li>Tech glitches: Some users couldn’t get their free tokens because of site issues.</li><li>Club troubles: The main thing in V2, Clubs, had issues. People said the site didn’t recognize their memberships or show new clubs.</li><li>Token price drop: FRIEND token fell by 46%, from $2.78 to $1.49 in under four hours. Experts say this happened because there wasn’t enough money in the system.</li></ol><p></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6e121c75cb5349f494eb2f6a6b4313bc.png" /><h2 id="header-1">Airdrop and Distribution </h2><p>Friend.Tech promised to give 100% of FRIEND tokens to users based on an April snapshot. But, the airdrop had big problems. Many users had trouble getting their tokens. Some even said their points disappeared completely. This made people frustrated and confused. On Twitter, users like mcSleuth wondered how the platform messed up so badly. Others questioned if the airdrop was real, saying, “All my friend.tech points are gone and I can’t claim any FRIEND?”</p><p></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e63a7943479a488b8063d411bc2ef5d6.png" /><p>The airdrop distribution faced criticism too. Critics said it favored big users, leaving most with very few tokens. Hitesh Malviya said, “Most users got way less than expected,” suggesting a different airdrop plan. Others said, “I can’t even get my airdrop, so I’m not selling my FRIEND tokens.”</p><h2 id="header-2">Looking Forward </h2><p>Experts think the way tokens were given out made many users unhappy. Friend.Tech needs to rebuild trust. They should explain the airdrop issues and why features like POINTS got scrapped. Also, they need to talk more with the community.</p><p>Friend.Tech also needs to show that FRIEND tokens and Clubs are useful for users in the long run. It won’t be easy, but Friend.Tech can still succeed by focusing on users, building a strong community, and delivering on the promise of a truly decentralized social media site.</p>

Friends.Tech Launches Token Alongside V2 Release

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