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The Challenges Faced by Friend.tech during the Launch of its Native Token
Social crypto platform Friend.tech recently announced the launch of its new native token alongside the release of version two (V2) of its decentralized social media platform. However, the launch has faced significant challenges, leaving many users unable to claim their tokens as expected.
Difficulties in Token Distribution
According to reports, FRIEND tokens were scheduled to be airdropped to users based on an April snapshot. Unfortunately, many users have encountered difficulties in claiming their tokens, leading to frustration and confusion among the community.
One user took to Twitter to express their concern, stating, “Literally all my friend.tech points are gone and I have 0 FRIEND to claim?” Another user shared a similar experience, mentioning, “I’m NOT selling my FRIEND airdrop (Cause I can’t even claim it).” These sentiments highlight the issues plaguing the token distribution process.
History of Friend.tech
Friend.tech first launched in August 2023 and quickly gained attention within the crypto community. Operating on the Ethereum layer-2 scaling network Base, the platform allows users to buy and sell “keys” linked to Twitter accounts, offering a unique approach to social networking.
Despite its initial success, the platform has faced criticism and challenges along the way. With the release of version two and the introduction of the new token, Friend.tech aimed to enhance the user experience and provide additional features such as community owned spaces called Clubs.
Challenges with Version Two
Despite efforts to improve the platform, users who successfully claimed their tokens faced disappointment as the token price experienced a significant drop within hours of the launch. The value of FRIEND token plummeted by 46% from $2.78 to $1.49, causing concern among the community.
Furthermore, users expressed dissatisfaction with the functionality of the new Clubs feature, which is essential for airdrop eligibility. Some users reported issues with the platform not recognizing their participation in clubs or failing to display newly created clubs effectively.
One user voiced their frustration on Twitter, stating, “This shitty SocialFi app [is] still not verifying [the] join club step. I hate Friendtech.” The sentiment of disappointment and frustration echoed by users indicates a growing discontent within the community.
Community Response
As a result of the challenges faced during the token launch and the issues with the new platform features, some community members have expressed their intentions to sell or dump their tokens. Previously seen as a promising project within the Web3 industry, Friend.tech is now grappling with negative feedback and backlash from its users.
One user expressed their disappointment, saying, “I had a lot of hope with friend.tech V2. Here we are after V2, app still looks like shit, is slow as fuck and after 8 months the only update we got was ‘clubs’ (which people are only using to claim their airdrop and dump it).” The disillusionment and criticisms shared by users underscore the challenges faced by Friend.tech in maintaining user trust and engagement.
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