A cryptocurrency project with a strong presence on social media has reversed its decision to leave Coinbase, the largest cryptocurrency exchange in the United States, and its blockchain.
new presentation On social media platform X, Friend.tech (FRIEND) has announced that it has no plans to leave Base and create its own blockchain based on community feedback.
“We’ve heard your feedback. You don’t want FRIEND to move to another chain. We agree. FRIEND has always been intended to be a 100% community-controlled token that powers the Clubs contract.
Transferring supply and liquidity is not in keeping with the spirit. You can still create clubs, chat, buy keys, and use FRIENDS on Base in the friendtech app.
Additionally, we have lifted all protocol fees from BunnySwap, Clubs, and v1 smart contracts. 100% of fees will now be paid to the community’s traders, LPs, and Club presidents.”
Last month, Friend.tech announced that it would be partnering with Conduit, a company that provides Ethereum (ETH) rollups, to create its own network, Friendchain.
Friend.tech launched in 2023 and creates a decentralized finance (DeFi) social media space where fans and creators can interact by allowing users to link their X account to their cryptocurrency wallet.
At the time of writing, FRIEND is trading at $0.323, which is down 22.4% over the last 24 hours.
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Featured image: Shutterstock/Pavel Chagochkin/Vladimir Sazonov