Decentralized social community Good friend.tech has unveiled plans emigrate from Coinbase’s layer 2 blockchain Base to its proprietary community Friendchain. The event will come as a part of the platform’s partnership with crypto infrastructure providers supplier Conduit.
When will the brand new Good friend.tech blockchain be launched?
In an X publish on June 8, web3 neighborhood platform Good friend.tech revealed its plans to create a brand new blockchain known as “Friendchain,” ending its partnership with the Coinbase-incubated Base Community. Based on the announcement, Friendchain is a proprietary blockchain that may leverage the lately launched FRIEND token as a completely transferable Fuel token.
Associated Studying
Whereas the decentralized platform’s group didn’t reveal a timetable for the community’s migration, the announcement did say that customers can be up to date with related data “within the coming months.” It may be inferred from the data from Good friend.tech that the Friendchain mainnet migration might take a number of months.
We’re comfortable to work with you @conduitxyz On Friendchain, our personal blockchain utilizing $friends As a completely transferable gasoline token.
Over the following few months, we’ll preserve you up to date with all of the updates you want as we construct this thrilling new chapter. pic.twitter.com/HRa26vfFEX
—pal.tech (@friendtech) June 8, 2024
Nevertheless, this growth is no surprise contemplating that Good friend.tech co-founder Racer publicly expressed his need to maneuver the decentralized social platform away from Base on the finish of Might. In a now-inaccessible publish on X, Racer mentioned the uneasy relationship between the Good friend.tech group and Base:
After we launched, Farcaster buyers went loopy making an attempt to malign us as a result of they misunderstood what we have been doing. They put a variety of strain on their group and customers, and our relationship has been going downhill ever since, and we have been ostracized from something within the “base” neighborhood.
After launching in August 2023, Good friend.tech rapidly grew to become one of many high decentralized functions (dApps) on the Base community. Nevertheless, consumer curiosity and engagement on the social platform have cooled in current months.
FRIEND rises 17% after new blockchain launch
The worth of the FRIEND token plunged 20% after Racer hinted that it would exit Base. This has considerably exacerbated the damaging sentiment surrounding the token following the largely “unsuccessful” ITS airdrop in Might.
Associated Studying
This time, the most recent affirmation of “Good friend Hyperlink” has had a fairly constructive impression on the worth of FRIEND. Following the current announcement, the cryptocurrency gained greater than 17%, reaching $1 at one level, in line with CoinGecko.
As of the time of writing, the FRIEND token is price $0.93, with costs up 8% up to now day. Nevertheless, the most recent worth surge was not sufficient to erase the coin’s losses on the weekly timeframe.
Featured footage are from “Fortune Star” and charts are from TradingView
