What is Friend.tech?

Summary: Friend.tech is a groundbreaking decentralized social media platform that allows users to tokenize and trade "shares" of themselves. Built on Base, Coinbase's layer 2 network, the invite-only beta platform enables private messaging through share trading and has quickly become a popular Web3 social app in the crypto space.

With 15,700 ETH in trading volume in just a week, it's revolutionizing social media dynamics within crypto. Users can actively participate through weekly airdrops and are set to influence the platform's direction via governance tokens.

What is Friend.tech?

Friend.tech (or @friendtech on Twitter) is a new decentralized social media platform that allows users to tokenize their social networks, enabling them to sell "shares" of themselves to followers. Launched as an invite-only beta, the platform is built on Base, Coinbase's layer 2 network, and has witnessed substantial trading volume, reaching 15,700 ETH (about $41 million) in the last 7 days.

The app's functionality allows users to buy shares of other users, granting the ability to exchange private messages with them. Influencers are courted to join the platform, and the concept is likened to an "Only Fans-type platform for Crypto Twitter." It has been the most popular Web3 social app to launch in crypto, quickly surpassing Lens Protocol and centralized alternatives like Farcaster.

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How to Use Friend.tech

The Friend.tech app is currently deployed on the Base Layer 2 network, which means you can only access it with a Web 3 wallet like MetaMask. Also, because it is currently in beta, users will need a beta acces code to sign up. These can be found on Crypto Twitter if you are following popular influencers.

Once you get a beta code, here is a simple guide to complete your onboarding:

1. Create a Web 3 Wallet (e.g. MetaMask or Coinbase Wallet) and add Base to your supported networks.
2. Bridge ETH to Base using a trusted Base bridge.
3. Visit the Friend.tech page on your mobile and add the app to your home screen.
4. Setup your account and send ETH to your account deposit address from your Web 3 Wallet on Base. You’re now ready to go!

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Friend.tech User Growth and Revenue

Friend.tech is revolutionizing how we understand social media dynamics in the crypto space, as evidenced by 44,901 unique shares traded and a remarkable 520,864 transactions. By tokenizing user-profiles and enabling trade, it creates an ecosystem where social engagement meets economic value.

The platform's vibrant activity and growth are highlighted by its 45,463 unique traders and substantial trading volumes in Ethereum (9,528 in buy volume and 6,201 in sell volume, with a total volume of 15,729 ETH).

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Friend.tech Airdrop

Friend.tech has recently launched its first Friday Points Airdrop, delivering to a remarkable 44,000 users. This event marks the beginning of a six-month beta period during which 100 million points will be distributed. Here's a closer look at the details:

• Airdrop Schedule: Airdrops take place on Fridays, with a cutoff for qualifying activity at Thursday 11:59 pm UTC.
• Off-Chain Recording: These points are recorded off-chain, meaning they are managed outside the blockchain network.
• Transfer into Governance Tokens: An enticing aspect of these points is that, after the beta period, they will be transferred into Friend.tech governance tokens. These tokens will give users a say in the platform's direction, decisions and act as an equity stake.
• Ethical Usage: Friend.tech encourages users to interact with the app as they usually would without seeking specific methods to earn points. The company retains the right to modify previous distributions if any irregularities are found.

This initiative not only fosters community engagement within Friend.tech but also paves the way for decentralized governance. By transforming points into governance tokens, users become stakeholders, actively participating in shaping the platform's future.

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Is Friend.tech Safe?

Friend.tech, a new protocol on Base Layer 2, represents an exciting development in the crypto space but not without its inherent risks. Like all smart contract platforms, there is a potential risk associated with this technology. However, it's essential to consider that Friend.tech is considered safe within the crypto community. 

Backed by Paradigm, a prominent name in the field, and built by the well-regarded crypto Twitter personality 0xRacer, the platform has already gained trust. Though it is still in its early stages, the support from reputable entities and the expertise of its creator suggest a strong commitment to safety and integrity. 

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How Do I Get a Beta Code?

To obtain a Friend.tech beta code, you may need to follow their official channels like Twitter or their website, and engage with the community. Keep an eye on updates from key personalities like 0xRacer, Ansem, CryptoKaleo and others for potential opportunities. Specific details and availability should be verified directly with Friend.tech's official sources.

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Bottom Line

Friend.tech is redefining social media by blending crypto functionality with social engagement. With the tokenization of user profiles and the unique ability to trade shares, the platform has seen substantial growth and trust within the crypto community. 

The platform's recent airdrop hints at future decentralized governance through tokens, and with backing by credible names like Paradigm and 0xRacer, Friend.tech demonstrates strong commitment to safety and innovation. This new and promising platform is not only changing the way we perceive social media but also creating exciting opportunities for participation in the world of decentralized social networks.