The Friend.tech ecosystem is being built with its first projects. So what is special and interesting about the Friend.tech ecosystem? Do we have any investment opportunities in this ecosystem? Let’s find out together in the article below.
To understand more about Friend.tech, people can refer to some of the articles below:
- What is Friend.tech? Overview of Cryptocurrencies Friend.tech
- Decoding the Success of FriendTech
- Vietnamese KOLs Are Reviving Friend.tech?
Friend.tech’s On-chain Indicators
Overview of Friend.tech
Friend.tech is a Decentralized Social Network (DeSocial) built and developed on Base’s ecosystem. With Friend.tech, users can interact directly and privately with KOLs they admire through purchasing and owning keys issued by KOLs. Financial elements are also added to Friend.tech to help this platform attract more users.
- Invest in Key from big KOLs early, then wait for Key to increase in price and then sell.
- KOLs profit from users buying and selling Keys. The platform will collect 10% of the transaction fee, then 50% will be returned to the project’s Treasury and the remaining 50% will go to the KOLs.
With implicit support from Coinbase, Paradigm or Variant, Friend.tech’s success is relatively easy to understand.
Notable on-chain metrics of Friend.tech
We can see that Friend.tech had an extremely booming initial period but then all health indicators dropped relatively sharply. However, during the Token 249 event, Mr. Le Thanh – Founder of Coin98 Finance tweeted to Friend.tech about buying the Key of the first and earliest commenters. Besides, Ryan Nguyen also “turned around” to support Friend.tech and sold Key immediately, making the platform hot again.
It cannot be denied that Mr. Le Thanh & Ryan Nguyen are the biggest KOLs in the Crypto market, but if more KOLs voice their support and join Friend.tech, this platform certainly has a lot of room for growth. Future.
In a general picture, Base will likely choose SocialFi and Perp DEX as the spearhead to attract users and the community. Surely Friend.tech’s future will have many interesting things ahead.
The First Pieces of the Friend.tech Ecosystem
FriendMEX
FriendMEX is an exchange that allows everyone to trade their Keys without registration. FriendMEX also provides charts for users to easily observe the price of Key in a larger time frame and then make appropriate decisions.
FriendMEX was built by an Indian who worked at Paradigm or Polychain Capital.
FriendIndex
Friend Index is a project built on Friend.tech, the project’s mission is to buy Keys from leading KOLs and share KOLs’ content with the project’s own Key holders. Buying Keys of top KOLs is extremely expensive, so buying Keys from Friend Index to track the Alpha of KOLs is the cheapest.
Besides, Friend Index also removes unhelpful messages and only sends valuable content to users. Friend Index commits to sharing Airdrop from Friend.tech to all its Key holders. Every Friday, Friend Index takes a snapshot of the holders and the number of tokens they received.
Currently, Friend Index is experiencing a lot of FOMO by the community, thereby pushing the price to Key nearly 2 ETH.
Some other projects being developed based on Friend.tech include:
- Friend Farm: Users can use Key from Friend.tech for Farming.
- The Creator Fund: Alpha sharing platform from top KOLs on Friend.tech similar to Friend Index.
- Friend Lend: Allows users to participate in Lending & Borrowing from Key Friend.tech.
- Friend Stake: Allows people to trade Keys with a 1% cheaper fee.
A Friend Finance (FriendFi) ecosystem is being formed on Friend.tech. However, it will be difficult for FriendFi to be sustainable if the Keys (Bluechips) are not stable in price. Could Keys become the next NFT trend? Let’s look forward to it in the future.
Summary
The Friend.tech ecosystem is gradually forming with interesting pieces. Continue following to find investment opportunities for yourself.
