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The latest news, featured projects, and analytics about Base blockchain
Base DailyBringing the World Onchain with Base — An Interview with Jesse Pollak
🔵 IntroductionIn the ever-evolving landscape of blockchain technology, innovation continues to drive the development of new platforms and ecosystems. Among these pioneers is Base, a promising Ethereum Layer 2 (L2) project that has been incubated by Coinbase and built on the open-source OP Stack. To shed light on the vision behind Base and its journey, we sat down with Jesse Pollak, Contributor #1 at Base, for an exclusive interview.Listen to the full podcast:Bringing the World Onchain with B...
Base DailyBase Builders Party - DackieSwap, BaseNS, and Innovaz
The Base Builders Party is an exciting event with top-notch projects on Base Blockchain. To join and receive gifts, benefits, and rewards from the four projects (DackieSwap, BaseNS, and Innovaz), you'll need to follow the steps outlined: Step 1: Claim Base Builders Party NFT First, you must claim the Base Builders Party NFT at the bottom of this article. This NFT may serve as your entry ticket or proof of participation in the event. Step 2: Follow all 4 projects' twitter: DackieSwap...
Base DailyFrenPet: A Game-Changing Web3 Play-to-Earn Experience
IntroductionWelcome to the world of Fren Pet, an exciting new game that's been making waves in the blockchain gaming community. Fren Pet has gained significant attention in recent days, thanks to its innovative gameplay, pay-to-earn mechanics, and unique tokenomics. In this blog, we'll take you on a journey through the Fren Pet universe, exploring its features, gameplay mechanics, and economic model.What is FrenPet?Fren Pet is a mobile game built on the Coinbase EVM sidechain, Base,...
The latest news, featured projects, and analytics about Base blockchain
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The SocialFi platform, friend.tech, has set a significant record on Base, leading this Layer 2 to achieve remarkable numbers of users and transactions. So, what exactly is friend.tech? Explore more with Base Ecosystem in the article below.
Friend.tech is a web3 social media project built on Base. Currently, it is in a limited beta phase, and users require an invitation code from an existing user to sign up. It's worth noting that friend.tech is available only as a mobile application, with no desktop version offered.
The platform has also announced plans to issue tokens in the future, leading the community to anticipate an airdrop for app users.
One of the standout features of friend.tech is that users can own "keys” of other users , influencers, or celebrities. This platform enables users to buy and hold keys of other individuals. These keys function like other digital assets, fluctuating in value over time.
The price will be determined based on price floor and number of buyers.
At Friend.tech, everyone's categorized as either a creator or a follower. Here is what that means:
For example, you've got a friend who is a creator and new to Friend.tech. You can purchase keys of their account at the base price. As your friend's network grows, the value of those keys go up. So, it's a win-win for both the creator and you as a key holder.
Someone can even buy shares of your account, depending on what value your network offers. At Friend.tech, the quality of the network is the net worth of the individual.
Friend.tech recently transitioned from calling them 'Shares' to 'Keys'. The name change captures their true function: Keys act like VIP passes, granting followers access to exclusive chatrooms.
From the preliminary information about friend.tech, this Web3 social network exhibits both strengths and weaknesses:
As a social media built on Layer 2 Base, the platform has garnered significant attention especially after its mainnet
Launched in early August 2023, it still holds vast potential for further development, enhancements, and partnerships.
The anticipated token airdrop for users is a particular highlight.
No token issuance or minimal airdrop.
Potential failure to break into mainstream, risking devaluation of assets.
High transaction fees.
Regulatory risks, especially being seen as a security.
Execution risks due to financial ties and the need for rapid iteration.
User retention issues, especially if the platform doesn't improve its current user experience.
Financial volatilities due to fluctuations in DAU and price.
Security risks linked to private keys and Web3 assets.
Anonymity of the team.
Potential content violations that could lead to regulatory challenges.
After launching for a month, Friend.tech has achieved many impressive results.
161K users
Over 5M total transactions
122K ETH volume
Furthermore, the key's price increases over time, reaching its peak at 8.8 ETH.
As of September 13, friend.tech's TVL has reached over 28 million USD, with a revenue of 146.36 million USD. Additionally, the accumulated fees surpassed 70 million USD, averaging more than 2M USD daily.
In May 2023, friend.tech revealed they had secured seed funding round with the Paradigm's involvement, though the exact investment amount was not revealed.
There is all basic information about friend.tech, a social network on Layer 2 Base. Friend.tech has the potential to lead in SocialFi, but they need to address their weaknesses. Will this shape the future of social media? Only time will reveal.
The SocialFi platform, friend.tech, has set a significant record on Base, leading this Layer 2 to achieve remarkable numbers of users and transactions. So, what exactly is friend.tech? Explore more with Base Ecosystem in the article below.
Friend.tech is a web3 social media project built on Base. Currently, it is in a limited beta phase, and users require an invitation code from an existing user to sign up. It's worth noting that friend.tech is available only as a mobile application, with no desktop version offered.
The platform has also announced plans to issue tokens in the future, leading the community to anticipate an airdrop for app users.
One of the standout features of friend.tech is that users can own "keys” of other users , influencers, or celebrities. This platform enables users to buy and hold keys of other individuals. These keys function like other digital assets, fluctuating in value over time.
The price will be determined based on price floor and number of buyers.
At Friend.tech, everyone's categorized as either a creator or a follower. Here is what that means:
For example, you've got a friend who is a creator and new to Friend.tech. You can purchase keys of their account at the base price. As your friend's network grows, the value of those keys go up. So, it's a win-win for both the creator and you as a key holder.
Someone can even buy shares of your account, depending on what value your network offers. At Friend.tech, the quality of the network is the net worth of the individual.
Friend.tech recently transitioned from calling them 'Shares' to 'Keys'. The name change captures their true function: Keys act like VIP passes, granting followers access to exclusive chatrooms.
From the preliminary information about friend.tech, this Web3 social network exhibits both strengths and weaknesses:
As a social media built on Layer 2 Base, the platform has garnered significant attention especially after its mainnet
Launched in early August 2023, it still holds vast potential for further development, enhancements, and partnerships.
The anticipated token airdrop for users is a particular highlight.
No token issuance or minimal airdrop.
Potential failure to break into mainstream, risking devaluation of assets.
High transaction fees.
Regulatory risks, especially being seen as a security.
Execution risks due to financial ties and the need for rapid iteration.
User retention issues, especially if the platform doesn't improve its current user experience.
Financial volatilities due to fluctuations in DAU and price.
Security risks linked to private keys and Web3 assets.
Anonymity of the team.
Potential content violations that could lead to regulatory challenges.
After launching for a month, Friend.tech has achieved many impressive results.
161K users
Over 5M total transactions
122K ETH volume
Furthermore, the key's price increases over time, reaching its peak at 8.8 ETH.
As of September 13, friend.tech's TVL has reached over 28 million USD, with a revenue of 146.36 million USD. Additionally, the accumulated fees surpassed 70 million USD, averaging more than 2M USD daily.
In May 2023, friend.tech revealed they had secured seed funding round with the Paradigm's involvement, though the exact investment amount was not revealed.
There is all basic information about friend.tech, a social network on Layer 2 Base. Friend.tech has the potential to lead in SocialFi, but they need to address their weaknesses. Will this shape the future of social media? Only time will reveal.
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