Friend.techPrice

(FRIEND)

In September 2024, the development team transferred administrative control of the protocol’s smart contracts to a "null address," rendering the code immutable. While the application remains functional on the Base network, the developers can no longer implement updates, modify fee structures, or manage the platform. This transition is widely viewed as a "sunsetting" of the project, meaning the technology continues to exist on-chain as-is, but without active growth or oversight from the original creators.

The $FRIEND token was introduced as the native utility asset for the platform's V2 update. Its primary function is to power "Clubs," which are user-managed group chat rooms. Unlike the original individual "Keys" that were priced in ETH, Club memberships and creation revolve around the $FRIEND token. Additionally, the token was used in a multi-stage airdrop process that required users to engage with specific social features, such as joining clubs and following other users, to claim their full allocation.

Friend.tech utilizes a mathematical bonding curve to determine the price of access to a creator's chat. The price of a "Key" is based on the total number of keys currently in circulation for that specific user. Because the price increases relative to the square of the supply, the cost grows exponentially as more people join. This creates a high level of scarcity and incentive for early entry, but it also leads to significant entry barriers for new participants as a creator's popularity increases.

Every time a user buys or sells a Key, a 10% transaction fee is applied. This fee is divided equally: 5% is distributed directly to the creator (the account owner), and 5% is allocated to the protocol treasury. This structure was designed to provide creators with a continuous stream of revenue based on trading volume, allowing them to earn from both the entry and exit of followers regardless of the Key's current price.

During its peak growth phase, the platform operated on a strictly invite-only basis to maintain exclusivity and drive demand through artificial scarcity. Users were granted limited codes to share with their network. While the infrastructure remains live on the blockchain and accessible, the requirement for invite codes has become a formality with little demand, as the project moved into an immutable state following the developers' exit from active management.

Since the platform requires users to link their X (Twitter) profiles to their blockchain wallets, it creates a permanent, public link between a social identity and on-chain financial activity. Because blockchain data is transparent, any observer can see the assets and transaction history of a specific social media user. To mitigate these risks, many participants choose to use burner wallets and unique email addresses to maintain a degree of separation between their main assets and their social interactions.