Friend.tech intends to move out of the Base chain, FRIEND plunges 20%! Huang Licheng suffered a blood loss of US$7 million

Friend.tech, a decentralized social platform based on Layer 2 network Base, was officially launched in August last year. It quickly became popular due to its unique gameplay, airdrop expectations, and support from well-known venture capital companies such as Paradigm. It became popular, but this wave of enthusiasm subsided significantly in October last year. It was not until last month that it announced the upcoming launch of V2 and the opening of airdrop applications, and it regained the attention of the community again.

However, it is worth noting that Friend.tech seems to want to move away from the originally deployed Base network for various reasons.

Founder: Intention to move out of the Base chain

According to reports, Friend.tech co-founder Racer posted on the social platform yesterday that he hopes to find a way to move Friend.tech from Base chain is migrated out. To this end, he offered a reward of $200,000 to anyone who could find a feasible solution.

"System Design Bounty: If you can find a way to migrate Friend.tech from Base without significant impact to users, and if this method works well and is adopted by us, we will Pay you $200,000.”

At the same time, Racer also gave the reason for wanting to move away from Base: The relationship between the Friend.tech team and Base has always been unstable. When we launched Friend.tech, investors in Farcaster (a decentralized social application on the Base chain) slammed us for misunderstanding our intentions and pushed their team and users to exclude us. Since then, our relationship with the Base community has been going downhill...

However, I don’t know whether it is due to too many people browsing or malicious reports. Racer’s X community platform account is currently inaccessible.

What to say about the Base Agreement

Regarding Racer’s insistence on leaving Base, Jesse Pollak, the head of the Base Agreement, issued a message this morning saying that the product innovation of the Friend.tech team has guided the direction of the industry. Although he was labeled as "negative speculation" in the process, Pollak, as an early user of Friend.tech, witnessed the iteration and innovation of its products.

Although he expressed regret, he said that if Friend.tech decided to leave Base, he would respect and support this choice.

$FRIEND plunged 20%

Seemingly affected by the news that Racer was preparing to move Friend.tech away from Base, the token $FRIEND issued by Friend.tech once fell to $0.9115, but recovered before the deadline. to $1.03, a drop of 20.67% in the past 24 hours.

Big Brother Maji suffered a tragic loss of US$7 million

On the other hand, Brother Maji, who has been paying attention to the trend of Friend.tech and is also the largest individual holder of $FRIEND tokens, here Heavy losses occurred in this incident.

According to on-chain analyst Ember’s statistics, Brother Maji has continued to buy $FRIEND since May 3, spending a total of 4,783 ETH (about 15.35 million U.S. dollars), buying 8.048 million $FRIEND, with an average purchase of The cost is US$1.9 each. If calculated based on the current price of US$1.03 per pill before the deadline, Brother Maji has already incurred a floating loss of US$7 million.

The above is the detailed content of Friend.tech intends to move out of the Base chain, FRIEND plunges 20%! Huang Licheng suffered a blood loss of US$7 million. For more information, please follow other related articles on the PHP Chinese website!