• Friend.tech is attempting to discourage users from trying cloned apps.
• The platform has seen a decline in popularity and their penalization policy is being viewed by some as overreaching.
• Friend.tech has opted to penalize users who experiment with cloned platforms by confiscating their reward points, which has caused mixed reactions from the crypto community.
The social media platform friend.tech has seen a decline in popularity and is attempting to discourage users from trying cloned apps. To this end, they have opted to penalize users who experiment with cloned platforms by confiscating their reward points, which they announced on August 14th would be distributed over six months as 100 million tokens to beta users. The benefits of the reward points are currently unclear but they are collected off-chain during the beta period and will have a special purpose when the app enters official release status.
At the time of writing, Base has surpassed 950k total users according to Dune since it opened its public mainnet on August 9th – much of this success was attributed to SoFi app friend tech which also enjoyed booming success during its release but in recent weeks its popularity has begun to wane due partly to Circle CEO Jeremy Allaire’s suggestion that a business-focused clone might snowball into something big and rival platforms hard forking their code entering the picture . On-chain stats have shown a steep decline since August 21st with transactions falling from an hourly peak of 28.9k down to 2k at the time of writing which may be partially attributed to friend tech’s penalization policy.
The crypto community gave a mixed response to friend tech’s penalization policy with on-chain detective ZachXBT posting a meme implying that it was akin to how a brutalist political regime operates whilst others expressed concern about user privacy and potential censorship implications arising from such policies .
At the height of friend tech’s popularity , Circle CEO Jeremy Allaire opined that a business-focused clone might snowball into something big . This suggestion may have played some part in diminishing interest in friend tech as well as rival platforms hard forking thier code entering the picture .
The actual benefits of the reward points issued by friend tech are unclear at this stage however it appears that they are collected off-chain during the beta period and will have a special purpose when the app enters official release status .
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