SocialFi utility protocol Good friend.tech (FRIEND) says it’s leaving Coinbase’s Base chain to develop its personal community.
In a brand new thread, the staff behind the social finance platform says that it will likely be partnering up with Conduit, a agency that gives Ethereum (ETH) rollups, to work on Friendchain, its very personal blockchain that can make the most of FRIEND as its gasoline token.
“We’re happy to be working with Conduit on Friendchain, our personal blockchain that makes use of FRIEND as a completely transferable gasoline token. We’ll preserve you recent with all the data you want over the approaching months as we construct out this thrilling new chapter.”
In line with Good friend.tech, customers can sign up for the upcoming Friendchain testnet, however no particular date was talked about for its launch.
Good friend.tech, which launched in 2023, permits customers to hyperlink their X accounts to a crypto pockets handle, making a social decentralized finance (DeFi) area the place followers and creators can immediately interact with each other.
“[Friend.tech] permits customers to have a direct engagement with creators, which could not be attainable in frequent channels. For instance, a basketball fan should purchase [NBA player] Grayson Allen’s Key to have a dialog with him. One other function is it permits the resale worth of the membership. Customers can guess on the expansion of the profiles or creators by shopping for their keys.”
Information from market intelligence agency Dune Analytics reveals that Good friend.tech has practically $9 million in Complete Worth Locked (TVL) and simply over 916,800 customers who’ve accomplished at the very least one commerce on the platform.
FRIEND is buying and selling for $0.791 at time of writing, an almost 20% lower over the last 24 hours.
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Featured Picture: Shutterstock/Yurchanka Siarhei
