- Friend.tech plans to reward users who remain loyal and do not engage in forks or clones.
- The SocialFi project will automatically forfeit points for users who choose the forked version.
- Points are expected to have a special purpose in tokenized social media platforms.
- Users of Friend.tech expressed disappointment with the project’s decision to punish users by forfeiting their points.
Friend.tech, the decentralized social media platform taking the Web3 space by storm, announced a controversial policy this morning in light of copycat applications and forks. The SocialFi project said it would punish users who chose competing SocialFi projects by disabling their ability to earn reward points. But the project’s founders reversed the controversial policy less than 12 hours after it was made public.
Friend.tech confiscates points from users who move to clones
According to presentation Earlier today, on
Users who choose to participate in the competing SociaFi project will be able to continue using its tokenized social media platform, friend.tech, it said. The platform has added an updated rewards points policy to ensure loyal users are fairly rewarded during the beta phase.
Friend.tech users have raised concerns about the latest policy, with many expressing their disappointment and frustration. The majority of the cryptocurrency community agreed that users should be free to explore other projects without jeopardizing the rewards they have accumulated from their activities and contributions to date.
Racer, a pseudonymous developer behind Friend.tech, has reversed its controversial rewards points policy just hours after announcing it, following backlash from users and the broader cryptocurrency community. The developer apologized to users and urged them to explore other products.
I have been living in fear… ..that fear caused me to act with a zero sum mentality when I told myself not to try other products… .. Please live as you wish.”
Racer, friend.tech Developer
As of now, it’s unclear how users can redeem the reward points in question, but the SocialFi project previously stated that they would have a “special purpose” once the six-month beta period ends. Friend.tech plans to distribute 100 million reward points through airdrop every Friday during the beta period. The airdrop will take into account user activity until 23:59 on Thursday, after which points will be rewarded and recorded off-chain.