Friend tech Launches Friendchain Powered by $FRIEND Token

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Friend tech Launches Friendchain Powered by $FRIEND Token



Friend. Tech announced that it will partner with Conduit to develop Friendchain, a blockchain specifically designed for the $FRIEND token to be used as a gas token. This development will increase the level and performance of smart contract automation. Web3 social media.

Friend tech Increases Autonomy with Friendchain Initiative


friend technologyweb3, a leader in social networking, announced its collaboration with crypto infrastructure titan Conduit on June 8. Together, they plan to develop a Friendchain that prominently features the FRIEND token. However, the platform needed to specify when they expected the blockchain to be operational.

“We are pleased to work with Conduit on our blockchain Friendchain, which uses $FRIEND as a fully transferable gas token,” said a spokesperson from Friend.tech.

They assured stakeholders that updates would follow as development progressed.

This initiative follows comments made by the project’s co-founder, Racer, last May about potentially stepping away from the project. Coinbasesupported Ethereum layer-2 network,Basis. He talked about feeling disconnected from the ecosystem and even offered a $200,000 incentive to a developer who could seamlessly transition to the platform. This move towards an independent blockchain aligns with Racer’s strategic vision for greater platform independence.


Friendchain Reaction: Will it Rise or Fall?


The announcement sparked mixed reactions from both the community and analysts. While some see this move as a natural evolution for successful decentralized applications, others express concerns about its potential impact on growth. The Giver, a well-known Friend Tech advocate, commented on social media:

“This movement is short-term bullish and medium-term bearish.”

He suggested that Friend Tech should focus on user acquisition, leveraging its existing ties with Base and solana to build a solid user base.

According to The Giver, the challenge lies in balancing immediate value capture with long-term sustainable development.

“The ultimate long-term vision is for backers/investors to continue cutting protocol fees and transition from a SaaS group to a Web2 company with a Web3 portal for monetized social media,” he explained.

To realize this vision, the platform must bridge the gap between its initial offerings and newer features, he noted.



Source: DeFiLlama

Despite experiencing a recent 20% decline in total value locked (TVL), Friend.tech continues to lead the SocialFi movement with around $10 million in TVL, according to data from DeFiLlama. After the statement, FRIEND tokenThe value of rose by nearly 15% to $0.96.


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Maxwell is a crypto-economic analyst and Blockchain enthusiast who is passionate about helping people understand the potential of decentralized technology. I write extensively on topics like blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its effects on economic freedom and social well-being.





The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.

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