On May 27th, after the co-founder of the Web3 social network friend.tech protocol (pseudonym Racer) posted hinting at the intention to move the protocol out of Base, the protocol's native token FRIEND fell sharply. According to CoinGecko data, FRIEND is now reported at $1.01, a decline of 32.2% in 24H.
"System Design Bounty: If you can find a way to migrate friend.tech out of Base without major issues for users, and it works well enough, we've decided to use it and will pay you $200,000," Racer wrote on X. In another post, Racer explained that the friend.tech team's relationship with Base has been rocky, "Farcaster's investors went crazy smearing us when we launched because they misunderstood what we were doing. They put a lot of pressure on the team and users, and from there our relationship went downhill and we were ostracized by the'Base community '." It should be noted that at some point on Sunday, Racer's post was inaccessible; it's unclear if they deleted their account after the post.
In response, Jesse Pollak, head of Base at Coinbase, acknowledged that friend.tech team felt "isolated and disconnected" from some parts of Base and the Ethereum ecosystem. "I would regret if the team decided to leave Base, but I would also respect and support either path - that's the beauty of a decentralized, on-chain economy," Pollak wrote.
friend.tech Lianchuang hinted that due to the unstable relationship between its team and Base, it intends to move out of the agreement, causing FRIEND 24H to fall more than 32%.
2024-05-27 00:29:54
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