On-chain indicators are showing that Friend.tech has gradually recovered after a quiet period, many opinions say that the driving force of the recovery comes from the Vietnamese community. Join Weakhand to find the answer to whether Vietnam is reviving Friend.tech?
To understand more about Friend.tech, people can refer to the following articles from Weakhand:
- What is Friend.tech? Overview of Cryptocurrencies Friend.tech
- Instructions for Registering and Using Friend.tech
- How to Make Money on Friend.tech
- Series 2: Crypto Unlock | Decoding the Success of FriendTech
Overview of Friend.tech
Friend.tech is a web 3 social network built around celebrities issuing keys and users buying keys to receive certain benefits, especially being able to message through a closed chat channel.
Friend.tech attracted a large number of users in mid-August 2023 because it announced some information related to the support of the Paradigm investment fund and hinted that it would airdrop to everyone through a scoring mechanism.
Why Is Friend.tech Fading?
The first reason we can talk about is that the majority of Friend.tech users at the beginning were either small users or people who were afraid of risk, so they deposited a minimum amount of ETH into this platform to hunt. airdrop. However, the scoring criteria of this platform revolve around trading keys with a high frequency and large trading volume.
This causes the number of points allocated weekly to mostly fall to large players with a volume of dozens of ETH. Because the points received were not worth what they spent, a large number of small users left the Friend.tech platform with bad impressions.
Key trading volume on the Friend.tech platform therefore also bottomed out in the last days of August with just over 400 ETH per day.
In addition, after two weeks of implementing the scoring mechanism as well as creating new codes, the number of users pouring into this platform has increased rapidly and quickly reached the 125K mark. After that, the project development team was forced to limit invitation codes because the infrastructure could not meet this requirement.
Vietnam Is Reviving Friend.tech?
Thanh Le is one of the two founders of the Coin98 Finance company, which currently has more than 44,000 followers on Twitter. He fired the first shot when he announced that he would have a closed AMA session on Friend.tech. . In addition, the co-founder of Coin98 also had a small giveaway when buying keys from the first 100 people to retweet and comment on the username.
Okay lets do this!
Lets do private AMA on https://t.co/Ysn0JphTsb@imlethanh98 pic.twitter.com/5xLi6O6kSr
— Thanh Le (@imlethanh98) September 11, 2023
In addition, another prominent face in the Vietnamese Crypto community with a Twitter account of more than 556K followers, Ryan Nguyen, also had some intentions of using the Friend.tech platform right after Thanh Le. join.
Le Thanh has a lot of relationships, so she doesn’t have time to do it for fun or for random things. If you look a little further, there’s definitely nothing special.
Ryan will play, everyone who wants to join Ryan, get ready, STARTING TONIGHT 😁 https://t.co/WJEOCxRb53— Ryan Nguyen (@RyanNguyenHC) September 11, 2023
Some benefits for key holders promised by Ryan Nguyen include:
- Limited to the first 222 participants.
- Get early personal feedback from Ryan.
- Join a private group.
- Get direct advice on investment holders’ projects.
In addition, there are also a series of other famous people in the Vietnamese Crypto market who have also responded to Thanh Le and registered accounts on Friend.tech, so in the near future it is very likely that the Vietnamese community will will revive this project.
Summary
Above are the reasons for us to be able to determine that Vietnamese KOLs are reviving Friend.tech after a period of cooling down. Weakhand hopes that this article has brought everyone useful information.
