Friend.tech Announces Snapshot for Impending FRIEND Token Airdrop

friend.tech, a blockchain-based social media platform, is preparing to launch its anticipated version 2 and airdrop its FRIEND token. The team has taken a snapshot of point balances and users can expect the airdrop, speculated to occur next week, when points go onchain. Version 2 introduces features like Money Club, a point system, and customization options, sparking renewed interest in the platform.

Friend.tech Announces Snapshot for Imminent Airdrop of FRIEND Token

Blockchain-based social media platform Friend.tech gears up for the long-awaited airdrop of its FRIEND token, capturing a snapshot of points balances.

Friend.tech, the blockchain-based social media platform incubated by Coinbase, has embarked on a journey towards its highly anticipated version 2. As part of this transformative upgrade, the team has taken a snapshot of points balances, paving the way for the much-talked-about 100% airdrop of its FRIEND token.

"We've locked in points balances and unlinking or relinking your Twitter will no longer transfer points," the Friend.tech team announced on Twitter. "Join us next week for when points go onchain."

While the exact date of the airdrop remains undisclosed, industry insiders speculate that it could occur as early as next week, coinciding with the onchaining of points balances.

Friend.tech: A Decentralized Social Media Metaverse

Friend.tech has established itself as a decentralized social media platform built on Base, Coinbase's Ethereum L2. Since its inception in August 2023, the platform has garnered significant attention, sparking both excitement and controversy. At one point, it emerged as one of the largest blockchain platforms.

Friend.tech employs a unique model that empowers "subjects," or social media personalities, to offer "shares" to their dedicated community. These shares grant users exclusive access to private chats, where they eagerly anticipate perks, insights, and tradeable information from the subjects.

However, the initial fervor surrounding Friend.tech gradually waned, leading to a decline in active users on the platform.

Version 2: A Resurgence of Interest and Value

The tides turned earlier this month when news of Friend.tech's imminent version 2 sent shockwaves through the blockchain community. As a result, fees, trading, and overall activity on the platform surged.

At the time of writing, Friend.tech boasts an impressive total value locked (TVL) of $34.4 million, according to DeFi Llama. While this pales in comparison to its peak TVL of $52 million in October, it signifies a resurgence of interest in the platform.

Version 2 Highlights: Money Club, New Point System, and Enhanced Features

Friend.tech version 2 introduces a host of groundbreaking features, including the Money Club. Money Club empowers communities to collectively manage shared treasuries and mint tradable onchain collectibles, encompassing NFTs, meme coins, and other multimedia assets.

Furthermore, the platform unveils a revamped point system, which serves as the foundation for the upcoming airdrop. Additionally, custom curves enable users to tailor their engagement metrics to their specific needs.

Version 2 also incorporates user-friendly updates, such as customization options for subjects to enhance their chat spaces aesthetically and functionally. These options include polls, raffles, and visually appealing themes.

Industry Expert Perspectives: V2 as a Game-Changer

Crypto investor John Wang, a respected voice in the blockchain space, took to Twitter to share his insights on Version 2.

"V1 was merely a beta," he proclaimed. "This time around, FT is here to stay. Are you ready, anon?"

Conclusion

Friend.tech's upcoming airdrop of its FRIEND token, coupled with the transformative features of Version 2, signals a renewed era for the blockchain-based social media platform. As excitement builds within the community, industry experts anticipate a surge in activity and value on the platform.