Friend.tech price falls more than 20% after co-founder Racer hints at leaving Base

Native token for Web3 social networks Friend Tech friend

-22.75%
It took the plunge today after the protocol’s co-founder, known by the pseudonym Racer, publicly expressed his desire to leave Base, the Ethereum Layer-2 network created by Coinbase, which hosts the project.

“System Design Bounty: If you can figure out a way to migrate friendtech from Base without causing too much trouble for your users and it works well enough for you to decide to use it, we will pay you $200,000.” Racer wrote At X.

According to Racer, the Friend.tech team’s relationship with Base was rocky. “Farcaster investors were loathe to tarnish us because they misunderstood what we were doing when we launched. They pushed really hard on their team and their users, and since then we’ve been ostracized from everything for the ‘default community’. was going downhill,” Racer wrote in another post. (Racer’s posts were inaccessible at certain times on Sunday; it’s unclear whether he deleted his account after the post.)

In response, Jesse Pollak, Head of Base at Coinbase, suggested the following: diplomatic position He acknowledged that the Friend.tech team felt “isolated and disconnected” from Base and certain parts of the Ethereum ecosystem. “I will be sad if the team decides to leave Base, but I will also respect and support whatever path is taken. This is the beauty of a decentralized, on-chain, economy,” Pollak wrote.

Friend.tech’s token, which was recently launched as part of the social network’s version 2 launch, fell sharply following the post, down about 20%, according to The Block’s pricing page.

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