The Friend.tech Fiasco: Why the Token Launch and Airdrop Didn’t Go as Planned 🤦♂️
Social crypto platform Friend.tech recently introduced its new native token alongside version two (V2) of the decentralized social media platform. However, the launch has been far from smooth.
User Struggles with Airdrop Tokens 🤔
– FRIEND tokens were supposed to be airdropped to users captured in an April snapshot
– Unfortunately, many users have faced difficulties in claiming their tokens
– Some users reported losing all their Friend.tech points without receiving any FRIEND tokens
– Frustrated users took to Twitter to express their concerns and inability to claim the airdrop
Background of Friend.tech and the Launch
– Friend.tech was launched in August 2023, gaining significant hype and attracting critics
– The decentralized social network operates on Ethereum layer-2 scaling network Base
– Users can buy and sell “keys” linked to their Twitter accounts on the platform
– Despite the hype, Friend.tech did not respond to Decrypt’s request for comment on the token launch
Challenges with Version Two and Token Price Drop
– Version two of Friend.tech introduced Club, community-owned spaces run by key holders
– Users who managed to claim their tokens were unhappy with the rapid 46% price drop within hours
– The token price fell from $2.78 to $1.49, causing dissatisfaction among the community
– Speculation that the developers only added $0.01 in liquidity contributing to the price drop
Issues with the Clubs Feature
– The new Clubs feature is essential for airdrop eligibility but has faced technical glitches
– Users reported the platform not recognizing their club memberships or displaying newly created clubs
– Frustrated users expressed their disappointment on Twitter, criticizing the platform for its flaws
– Some community members threatened to sell their tokens once airdropped due to platform issues
Community Backlash and Disappointment
– Many users who had high hopes for Friend.tech V2 expressed their dismay at the platform’s performance
– Complaints about the platform’s appearance, speed, and lack of significant updates since V2 launch
– Users shared their disappointment with the platform’s functionality and experience after eight months of waiting
– The once-beloved Friend.tech is now facing backlash and criticism from disillusioned community members
Hot Take: The Fallout and Future of Friend.tech ⚔️
The issues faced during the token launch and airdrop, coupled with technical glitches in version two, have tarnished Friend.tech’s reputation. The platform’s inability to address user concerns and deliver a seamless experience has led to community backlash. Moving forward, Friend.tech must prioritize resolving technical issues, improving user experience, and rebuilding trust within its community to regain its footing in the competitive crypto landscape.
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