Key Points:
- Friend.tech is an upcoming platform that is generating buzz through community tokens.
- Twitter influencers are creating their social tokens with shares available for community purchase.
- Tokens promise peer transfers and DEX pool liquidity with platforms like Uniswap.
- User updates on Twitter suggest that social tokens like Cobie and Racer have already gained value.
- Caution is advised as anyone can create a social token with malicious intentions.
- DeFi researcher Ignas recommends using caution when using Friend.tech due to privacy concerns and app difficulties.
- The Friend.tech app is deployed on Coinbase’s Base layer-2 network.
- The success of Base likely contributed to the buzz around Friend.tech.
- Research analyst Ollie categorizes Friend.tech as a ‘Socialfi’ app with features of buying and selling shares of people.
- The value of the shares can be volatile, and the price of the next share is determined by the current number of shares owned.
- Users need to download the app, connect their email, Twitter, and Bridge ETH to sign up.
- Friend.tech is an experimental development with limited information on the mechanics, so due diligence is required.
Hot Take:
Friend.tech is an upcoming platform in the crypto space that is gaining attention through its community tokens. Twitter influencers are creating social tokens that can be purchased by the community. While these tokens promise features like peer transfers and DEX pool liquidity, caution is advised due to the potential for malicious tokens. Users should approach the platform cautiously and take precautions like using an anonymous email and funding their wallets from fresh wallets. The app is experiencing difficulties under heavy load but is deployed on Coinbase’s Base layer-2 network. Despite the experimental nature of Friend.tech and the limited information available, the development of community tokens and Twitter’s ad income-sharing mechanism have been hot topics.
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