Friend Tech Replaces “Shares” with “Keys” on Platform
Friend Tech, the decentralized social platform, has announced that it will be replacing the term “shares” with “keys” on its platform. According to the platform, this change better reflects the purpose of these items as in-app tools used to unlock chatrooms.
Key Points:
- Friend Tech has gained attention in the crypto space and surpassed giants like Bitcoin and Uniswap in terms of daily transaction fees.
- Users can purchase “shares” of personal accounts on the platform, with two separate 5% fees applied to transactions.
- Analysts compare this model to the stock market, as users can potentially profit from the increasing value of shares.
- The decision to change “shares” to “keys” may be an attempt to avoid scrutiny from the SEC, as “shares” imply expectations of profits.
- Listing the shares on external exchanges could complicate their classification as securities.
Hot Take:
Friend Tech’s decision to replace “shares” with “keys” on its platform is likely a strategic move to avoid potential regulatory issues. By downplaying the profit aspect and emphasizing the utility of these in-app items, the platform may be able to navigate through SEC scrutiny more easily. However, the increasing popularity and attention surrounding Friend Tech may still attract regulatory intervention in the future.
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