Token

Version

when

April

Friend.tech

<a href="https://bitcoinworld.co.in/friend-tech-prepares-for-version-two-launch-and-airdrop-but-leaked-smart-contract-raises-controversy/" title="Friend.tech Prepares for Version Two Launch and Airdrop, but Leaked Smart Contract Raises Controversy" rel="noopener noreferrer nofollow"></a>
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 <li style="font-weight: 400">Decentralized social media platform Friend.tech is gearing up for the launch of its version two and accompanying airdrop on May 3.</li>
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<h3 id="span-style-font-weight-400-friend-tech-prepares-for-version-two-launch-and-airdrop-but-leaked-smart-contract-raises-controversy-span">Friend.tech Prepares for Version Two Launch and Airdrop, but Leaked Smart Contract Raises Controversy</h3>
Decentralized social media platform Friend.tech is gearing up for the launch of its version two and accompanying airdrop on May 3.&nbsp;
However, leaked information about the platform’s smart contract has sparked controversy due to potentially contentious features, including the introduction of a non-transferable token.
According to a post by pseudonymous decentralized finance (DeFi) researcher <a href="https://twitter.com/Cbb0fe/status/1785927823909179858" rel="noopener noreferrer nofollow">CBBOFE</a>, who claims to have discovered the smart contracts, Friend.tech v2 might include a non-transferable token as part of the airdrop.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Might have found <a href="https://twitter.com/friendtech?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@friendtech</a> v2 smart-contracts (could be pure psyops from FT team), quick summary:
 – Ticker is <a href="https://twitter.com/search?q=%24POINT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$POINT</a>, not transferable unless to some whitelisted addresses. <a href="https://twitter.com/search?q=%24POINT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$POINT</a> will be tradable on BunnySwap (FT native DEX).
 – New smart-contract called Clubs. Anyone can…
 — CBB0FE (@Cbb0fe) <a href="https://twitter.com/Cbb0fe/status/1785927823909179858?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 2, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The token, known as $POINT, will seemingly be tradable exclusively on BunnySwap, a native decentralized exchange (DEX).&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/friend-tech-v2-goes-live-as-hype-builds-for-100-airdrop-of-friend-token/" aria-label="“Friend.tech V2 Goes Live as Hype Builds for 100% Airdrop of FRIEND Token” (Edit)" rel="noopener noreferrer nofollow">Friend.tech V2 Goes Live as Hype Builds for 100% Airdrop of FRIEND Token</a>
However, recipients of the airdrop will not be able to sell or exchange the coins unless their addresses are whitelisted by the protocol.
The proposed POINTS token would serve as a utility token on the platform, enabling the creation of social clubs. However, users may face a 1.5% platform fee when utilizing these clubs, as indicated by CBBFOE.&nbsp;
The token will be required to purchase club keys, and a bonding curve will be established to offer various options for users.&nbsp;
Additionally, the new tokens will be rewarded to users who stake their Ether and Points tokens through the Friend.tech smart contract.
Although non-transferable tokens have drawn backlash from the community, they could potentially benefit the long-term price stability of the cryptocurrency. Airdrops often lead to significant declines in token value as recipients tend to sell their rewards immediately.&nbsp;
Examples include The Omni Network’s OMNI token, which experienced a 55% drop in market capitalization within 18 hours following an airdrop, and Wormhole’s token (W), which fell nearly 25% in just a few hours after an airdrop on April 3.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
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The post <a href="https://bitcoinworld.co.in/friend-tech-prepares-for-version-two-launch-and-airdrop-but-leaked-smart-contract-raises-controversy/" rel="noopener noreferrer nofollow">Friend.tech Prepares for Version Two Launch and Airdrop, but Leaked Smart Contract Raises Controversy</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Friend.tech Prepares for Version Two Launch and Airdrop, but Leaked Smart Contract Raises Controversy

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