{"id":24311,"date":"2024-07-04T14:00:23","date_gmt":"2024-07-04T11:00:23","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24311"},"modified":"2024-07-04T10:12:12","modified_gmt":"2024-07-04T07:12:12","slug":"friendtech-stays-on-base-network-halts-protocol-fees","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/","title":{"rendered":"FriendTech Stays on Base Network, Halts Protocol Fees"},"content":{"rendered":"

FriendTech<\/strong> unveiled on Wednesday a web3 social network, but it would not migrate its native Friend token off the Base Layer 2 network.<\/p>\n

\u201cWe\u2019ve heard your feedback: you don\u2019t want $FRIEND\u00a0 moving to another chain. We agree,\u201d<\/em> said an X post<\/a>.<\/p>\n

According to FriendTech<\/strong>, the native coin was intended for total community governance and use for supporting Club contracts. \u201cMigrating the supply and liquidity would not align with that spirit. You’ll still be able to create clubs, chat, buy keys, and use $FRIEND on Base in the friendtech<\/strong> app.\u201d<\/em><\/p>\n

Apart from the announcement on the native currency, FriendTech<\/strong> said it has switched off all protocol fees from its decentralized exchange BunnySwap, Clubs, and V1 smart contracts. The protocol pointed out: “Now, 100% of fees will go to traders, (liquidity pools) and Club presidents in the community.”<\/em><\/p>\n

The project said last month that it would move from Base, the Ethereum Layer-2 network supported by Coinbase, to a new blockchain built with infrastructure provider Conduit. Then called Friendchain, the envisioned blockchain sought to employ the native coin of the site for governance and gas costs.<\/p>\n

FriendTech<\/strong> co-founder, under the alias Racer, openly indicated interest in having the protocol depart the Base network before the announcement, citing the bad connection the team had with Base. The protocol did not establish a comprehensive schedule for the network migration.<\/p>\n

Launched last August on Base, FriendTech<\/strong> became well-known with its innovative, invite-only networking tool that makes use of social tokens known as “keys,” therefore granting users access to special discussions and materials created by artists.<\/p>\n

In the past 24 hours, the FriendTech<\/strong> token dropped 34% to a fresh low of $0.3108 at the time of writing. Early May’s $3.26 all-time high marks 90% of the whole decline.<\/p>\n

 <\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

FriendTech unveiled on Wednesday a web3 social network, but it would not migrate its native Friend token off the Base Layer 2 network. \u201cWe\u2019ve heard your feedback: you don\u2019t want $FRIEND\u00a0 moving to another chain. We agree,\u201d said an X post. According to FriendTech, the native coin was intended for total community governance and use<\/p>\n","protected":false},"author":6,"featured_media":24312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1009,7169],"class_list":["post-24311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-friendtech","tag-friendtech-token"],"yoast_head":"\nFriendTech Stays on Base Network, Halts Protocol Fees - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FriendTech Stays on Base Network, Halts Protocol Fees - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"FriendTech unveiled on Wednesday a web3 social network, but it would not migrate its native Friend token off the Base Layer 2 network. \u201cWe\u2019ve heard your feedback: you don\u2019t want $FRIEND\u00a0 moving to another chain. We agree,\u201d said an X post. According to FriendTech, the native coin was intended for total community governance and use\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-04T11:00:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-04T07:12:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/FriendTech-gelistiricileri-20-milyon-dolar-kazandi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/\",\"name\":\"FriendTech Stays on Base Network, Halts Protocol Fees - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/FriendTech-gelistiricileri-20-milyon-dolar-kazandi.jpg\",\"datePublished\":\"2024-07-04T11:00:23+00:00\",\"dateModified\":\"2024-07-04T07:12:12+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/FriendTech-gelistiricileri-20-milyon-dolar-kazandi.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/FriendTech-gelistiricileri-20-milyon-dolar-kazandi.jpg\",\"width\":1024,\"height\":576,\"caption\":\"FriendTech\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FriendTech Stays on Base Network, Halts Protocol Fees\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FriendTech Stays on Base Network, Halts Protocol Fees - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/","og_locale":"en_US","og_type":"article","og_title":"FriendTech Stays on Base Network, Halts Protocol Fees - Coin Engineer","og_description":"FriendTech unveiled on Wednesday a web3 social network, but it would not migrate its native Friend token off the Base Layer 2 network. \u201cWe\u2019ve heard your feedback: you don\u2019t want $FRIEND\u00a0 moving to another chain. We agree,\u201d said an X post. According to FriendTech, the native coin was intended for total community governance and use","og_url":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/","og_site_name":"Coin Engineer","article_published_time":"2024-07-04T11:00:23+00:00","article_modified_time":"2024-07-04T07:12:12+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/FriendTech-gelistiricileri-20-milyon-dolar-kazandi.jpg","type":"image\/jpeg"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/","url":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/","name":"FriendTech Stays on Base Network, Halts Protocol Fees - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/FriendTech-gelistiricileri-20-milyon-dolar-kazandi.jpg","datePublished":"2024-07-04T11:00:23+00:00","dateModified":"2024-07-04T07:12:12+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/FriendTech-gelistiricileri-20-milyon-dolar-kazandi.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/FriendTech-gelistiricileri-20-milyon-dolar-kazandi.jpg","width":1024,"height":576,"caption":"FriendTech"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/friendtech-stays-on-base-network-halts-protocol-fees\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"FriendTech Stays on Base Network, Halts Protocol Fees"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=24311"}],"version-history":[{"count":2,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24311\/revisions"}],"predecessor-version":[{"id":24319,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24311\/revisions\/24319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/24312"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=24311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=24311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=24311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}