{"id":612118,"date":"2024-06-09T09:20:10","date_gmt":"2024-06-09T09:20:10","guid":{"rendered":"https:\/\/uniquehot.com\/?p=612118"},"modified":"2024-06-09T07:50:47","modified_gmt":"2024-06-09T07:50:47","slug":"friend-tech-to-exit-coinbases-base-announces-migration-to-new-blockchain","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/friend-tech-to-exit-coinbases-base-announces-migration-to-new-blockchain\/","title":{"rendered":"Friend.tech To Exit Coinbase L2 Base, Announces Migration To New Blockchain"},"content":{"rendered":"

The decentralized social network Friend.tech<\/a> has unveiled plans to move from Coinbase\u2019s Layer 2 blockchain Base to its proprietary network, Friendchain. This development will come as part of the platform\u2019s collaboration with Conduit, a crypto infrastructure service provider.<\/span><\/p>\n

When Will The New Friend.tech Blockchain Launch?<\/strong><\/h2>\n

In a June 8th post on X<\/a>, web3 social platform Friend.tech revealed its plans to create a new blockchain dubbed \u201cFriendchain,\u201d winding down its partnership with the Coinbase-incubated Base network. According to the announcement, Friendchain is a proprietary blockchain that will utilize the recently launched FRIEND token as a fully transferable gas token.<\/span><\/p>\n

Related Reading: Is A Bitcoin Crash Below $50,000 Still Possible? Crypto Analyst Shares The Possibilities<\/a><\/div>\n

Although the decentralized platform\u2019s team didn’t disclose a timeline for the network migration, the announcement did say that users will be kept abreast of relevant information \u201cover the coming months.\u201d It can be deduced from Friend.tech\u2019s message that the Friendchain mainnet migration could take months.<\/span><\/p>\n

\n

We’re pleased to be working with @conduitxyz<\/a> on Friendchain, our own blockchain that uses $FRIEND<\/a> as a fully transferable gas token.<\/p>\n

We’ll keep you up-to-date with all the info you need over the coming months as we build out this exciting new chapter. pic.twitter.com\/HRa26vfFEX<\/a><\/p>\n

\u2014 friend.tech (@friendtech) June 8, 2024<\/a><\/p><\/blockquote>\n

However, this development isn’t exactly a surprise, considering that the Friend.tech co-founder Racer had publicly expressed the desire to move the decentralized social platform off Base in late May. In a now-inaccessible post on X, Racer said about Friend.tech team\u2019s shaky relationship with Base:<\/span><\/p>\n

Farcaster investors went apeshit smearing us when we launched because they misunderstood what we were doing. Pushed it really hard on their team and users and the relationship has been downhill since then with us getting ostracized from anything that is for the ‘Base community.<\/span><\/p><\/blockquote>\n

Following its launch in August 2023, Friend.tech was quick to establish itself<\/a> as one of the top decentralized applications (dApps) on the Base network. However, the social platform has seen user interest and engagement cool off in recent months.<\/span><\/p>\n

FRIEND Rallies 17% After New Blockchain Announcement<\/strong><\/h2>\n

After Racer hinted at a possible exit from Base, the value of the FRIEND token plunged by 20%. This somewhat compounded the unfavorable sentiment around the token after ITS largely \u201cunsuccessful\u201d airdrop<\/a> in May.<\/span><\/p>\n

Related Reading: Dogecoin Price Prediction: Analyst Forecasts Meteoric 21,700% Rise To $17, Here\u2019s When<\/a><\/div>\n

This time around, though, the latest confirmation of \u201cFriendchain\u201d had a rather positive impact on the price of FRIEND. According to data from CoinGecko, the cryptocurrency jumped more than 17% following the recent announcement, reaching $1 at some point.<\/span><\/p>\n

As of this writing, the FRIEND token is valued at $0.93, reflecting an 8% price increase in the past day. However, this latest price spike has not been enough to wipe the token\u2019s loss on the weekly timeframe.<\/span><\/p>\n

\"Friend.tech\"
FRIEND price on the daily timeframe | Source: FRIENDUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Fortune, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

The decentralized social network Friend.tech has unveiled plans to move from Coinbase\u2019s Layer 2 blockchain Base to its proprietary network, Friendchain. This development will come as part of the platform\u2019s collaboration with Conduit, a crypto infrastructure service provider. When Will The New Friend.tech Blockchain Launch? In a June 8th post on X, web3 social platform Friend.tech revealed its plans to create a new blockchain dubbed \u201cFriendchain,\u201d winding down its partnership with the Coinbase-incubated Base network. According to the announcement, Friendchain is a proprietary blockchain that will utilize the recently launched FRIEND token as a fully transferable gas token. Related Reading: Is A Bitcoin Crash Below $50,000 Still Possible? Crypto Analyst Shares The Possibilities Although the decentralized platform\u2019s team didn’t disclose a timeline for the network migration, the announcement did say that users will be kept abreast of relevant information \u201cover the coming months.\u201d It can be deduced from Friend.tech\u2019s message that the Friendchain mainnet migration could take months. We’re pleased to be working with @conduitxyz on Friendchain, our own blockchain that uses $FRIEND as a fully transferable gas token. We’ll keep you up-to-date with all the info you need over the coming months as we build out this exciting new chapter. pic.twitter.com\/HRa26vfFEX \u2014 friend.tech (@friendtech) June 8, 2024 However, this development isn’t exactly a surprise, considering that the Friend.tech co-founder Racer had publicly expressed the desire to move the decentralized social platform off Base in late May. In a now-inaccessible post on X, Racer said about Friend.tech team\u2019s shaky relationship with Base: Farcaster investors went apeshit smearing us when we launched because they misunderstood what we were doing. Pushed it really hard on their team and users and the relationship has been downhill since then with us getting ostracized from anything that is for the ‘Base community. Following its launch in August 2023, Friend.tech was quick to establish itself as one of the top decentralized applications (dApps) on the Base network. However, the social platform has seen user interest and engagement cool off in recent months. FRIEND Rallies 17% After New Blockchain Announcement After Racer hinted at a possible exit from Base, the value of the FRIEND token plunged by 20%. This somewhat compounded the unfavorable sentiment around the token after ITS largely \u201cunsuccessful\u201d airdrop in May. Related Reading: Dogecoin Price Prediction: Analyst Forecasts Meteoric 21,700% Rise To $17, Here\u2019s When This time around, though, the latest confirmation of \u201cFriendchain\u201d had a rather positive impact on the price of FRIEND. According to data from CoinGecko, the cryptocurrency jumped more than 17% following the recent announcement, reaching $1 at some point. As of this writing, the FRIEND token is valued at $0.93, reflecting an 8% price increase in the past day. However, this latest price spike has not been enough to wipe the token\u2019s loss on the weekly timeframe. Featured image from Fortune, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":551445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[92523,1696,92524,92211,89239],"class_list":["post-612118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-conduit","tag-decentralized-apps","tag-decentralized-social-platform","tag-friend","tag-friend-tech"],"acf":[],"yoast_head":"\nFriend.tech To Exit Coinbase L2 Base, Announces Migration To New Blockchain<\/title>\n<meta name=\"description\" content=\"The decentralized social network Friend.tech has unveiled plans to move from Coinbase\u2019s Layer 2 blockchain Base to its proprietary network.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/uniquehot.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Friend.tech To Exit Coinbase L2 Base, Announces Migration To New Blockchain","url":"http:\/\/uniquehot.com\/news\/friend-tech-to-exit-coinbases-base-announces-migration-to-new-blockchain\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/friend-tech-to-exit-coinbases-base-announces-migration-to-new-blockchain\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/friend.tech-logo.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/friend.tech-logo.jpg?fit=2880%2C1920"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["conduit","decentralized apps","decentralized social platform","friend","friend.tech"],"dateCreated":"2024-06-09T09:20:10Z","datePublished":"2024-06-09T09:20:10Z","dateModified":"2024-06-09T09:20:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Friend.tech To Exit Coinbase L2 Base, Announces Migration To New Blockchain\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/friend-tech-to-exit-coinbases-base-announces-migration-to-new-blockchain\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/friend-tech-to-exit-coinbases-base-announces-migration-to-new-blockchain\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/friend.tech-logo.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/friend.tech-logo.jpg?fit=2880%2C1920\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"conduit\",\"decentralized apps\",\"decentralized social platform\",\"friend\",\"friend.tech\"],\"dateCreated\":\"2024-06-09T09:20:10Z\",\"datePublished\":\"2024-06-09T09:20:10Z\",\"dateModified\":\"2024-06-09T09:20:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/friend.tech-logo.jpg?fit=2880%2C1920","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/612118"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=612118"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/612118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/551445"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=612118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=612118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=612118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}