Good friend.tech, a decentralized social media platform constructed on the Base blockchain, sparked controversy when it introduced punitive measures in opposition to customers who change to forked or copycat variations of the app.
The official Good friend.tech X account tweeted final week that customers who migrate to counterfeit platforms will lose any reward factors they’ve collected. The controversial tweet has now been deleted.
Lengthy story quick:
- Good friend.tech is a decentralized social media platform on the Base blockchain that penalizes customers who select to fork or copycat variations.
- Unqualified customers lose “reward factors” collected through the check, prompting hypothesis about its goal.
- Monetary challenges coincided with plummeting income and energetic customers, whereas the inflow of OnlyFans and funding from Paradigm provided hope.
Decentralized social media: One thing is mistaken! ?
Good friend.tech airdrops bonus factors to beta testers each week and plans to distribute 100 million factors inside six months. Nonetheless, the workforce has but to make clear what these factors will likely be used for, saying solely that they “can have a selected goal” at launch.
Presumably, these factors could also be transformed into governance tokens when Good friend.tech formally launches. Others imagine there could also be monetary advantages for customers holding giant quantities of factors.
The information comes as Good friend.tech is dealing with monetary difficulties. In keeping with DeFiLlama, the app’s each day income plummeted by greater than 85% in per week, from a peak of $840,000 on August 21 to only $112,400 on August 28.
In keeping with a Crypto.information report, Good friend.tech’s each day buying and selling quantity dropped by 95% throughout the identical interval, from an all-time excessive of $16.88 million to $883,000.
Hourly energetic customers additionally dropped considerably from greater than 4,700 to lower than 600. This brought on Good friend.tech to fall out of the highest ten dApps by each day income. This follows earlier overtaking of leaders akin to Lido and Uniswap.
Regardless of the latest surge, new person development has additionally slowed. Nonetheless, Good friend.tech did see an inflow of OnlyFans accounts, which led to optimism about reaching a wider viewers.
Moreover, Paradigm’s latest seed funding in Good friend.tech has fueled hypothesis a few potential native token airdrop.
Regardless of financial difficulties, AUO Technology Nonetheless dedicated to development, that is evidenced by strict measures to stop customers from flocking to copycat platforms. The app’s capability to draw new audiences and supply worth to early adopters will decide whether or not it rebounds.