What is Friend.tech?
Friend.tech is a new on-chain Social application that allows users to create profiles and sell their “shares” to their followers. By purchasing shares of someone, shareholders can exchange private messages with that person and potentially profit from their popularity.
This Application is launched on the Ethereum Layer-2 Base and has recently been released.
More details: https://news.fmcpay.com/what-is-friend-tech-the-new-viral-crypto-social-media-app.html
Understanding the nature of the Friend.tech
Decentralized social platform Friend.tech announced it received a seed round funding from Paradigm earlier this year and partnered with VC to build tools for new online social interactions.
Earlier this year, we partnered with @paradigm to build tools for new online social interactions.
We’re grateful for the community’s warm reception and excited to continue growing with you all pic.twitter.com/yINDMXkpuZ
— friend.tech (@friendtech) August 18, 2023
By the way Friend.tech is hot, now I see friend.tech as a more typical ponzi model. Token has no supply limit but the price increases exponentially with the number of holders (the former buys shares cheaper than the latter), which easily causes FOMO psychology. But behind the increase in stats, once someone sells that share will plummet!
The minimum account creation threshold is 0.01E (~$20), which is a reasonable number for both real user psychology and sybil attackers. The airdrop program of 100M points in 6 months is almost certainly a form of token distribution. Thus, the account creation threshold both plays a role in creating liquidity for the share market and as a barrier to eliminate the maximum share of “junk”!
Issue shares according to a select number of refs because one person is limited to 3 new invitation codes every Friday. This is a selective “share” recruitment style similar to Arkham used to do, this step creates value based on nature scarcity, triggering the fomo mentality. Thus the ponzi model is effectively applied in the input, creating the effect of oral communication
- Model creates friendliness, and simplifies the share issuance process for major KOLs in the industry. Just having influence, creating an account on friend.tech will automatically release shares, and the general trend of CT is that users will buy shares from these influential figures. Moreover, on the user side, they also have their own share + airdrop expectation. Make this team’s behavior tend to buy and sell, the “cross” trend can be born from this mentality. this formula generates revenue. collect for friend.tech
- According to the project specifications, the owner contract of friend.tech has received more than 10,000E of share transactions, corresponding to more than 500E of transaction fees . A model that makes money, there are many more posts to push fomo! And if so rich, then an incentive marketing push like a big airdrop is very possible!
Steps to join friend.tech:
- Access channel: friend.tech using Chrome browser. Follow the instructions on the page to add friend.tech app to your phone home screen!
- Go to friend.tech on your phone’s home screen. Create an account by email (phone number is sending message error). Connect to Twitter account according to instructions!
- Send 0.01E of Base Chain to the wallet address provided on the screen to complete account activation and create a personal Twitter share!
- Continue to confirm the creation of a personal share to complete the account setup step
Friend.tech Airdrop conditions:
- Create an account and create a successful personal share
- Buy and sell at least one share, buy cross share yourself (create 2 accounts) or compete to buy share of a newly created account to optimize costs (because the more you buy later, the higher the share price increases exponentially. )
- Invite new users = ref code (1 week every Friday + 3 codes/account) . Invite at least 1 ref is enough (the more the better)