The developers of the decentralized social application Friend.Tech announced the development of the Friendchain network in collaboration with the blockchain infrastructure company Conduit.
We’re pleased to be working with @conduitxyz on Friendchain, our own blockchain that uses $FRIEND as a fully transferable gas token.
We’ll keep you up-to-date with all the info you need over the coming months as we build out this exciting new chapter. pic.twitter.com/HRa26vfFEX
— friend.tech (@friendtech) June 8, 2024
In the future, developers will transfer the protocol from the Base L2 network to Friendchain. The migration schedule has not yet been specified.
The team has also opened pre-registration for the upcoming Friendchain testnet.
At the end of May, the co-founder of Friend.Tech under the pseudonym Racer announced his intention to move the protocol from Base. Against the backdrop of the publication, FRIEND reacted by falling by 32%.
After the announcement of Friendchain, the project’s token soared by 33%, to $1.46. But then FRIEND went into correction. At the time of writing, the asset is trading at $0.78.
On May 3, the Friend.Tech team launched the second version of the protocol along with the native FRIEND token. At the start, the coin fell from $169 to $1.4.
Source: Cryptocurrency
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