Friendtech Disrupts CoinbaseBacked SecondLayer Chain Migration Decision

CoinDesk reports:
A cryptocurrency project focused on social media is changing its decision to leave the top cryptocurrency exchange Coinbase Blockchain in the United States.
In a new announcement on the social media platform X, Friend.tech (Friend) stated that, based on community feedback, it no longer plans to leave Base to create its own blockchain.
“We have heard your feedback: you do not want FRIEND to move to another chain. We agree. FRIEND has always been a token 100% controlled by the community, powering club contracts.”
Migrating supply and liquidity does not align with this ethos. You can still create clubs, chat, purchase keys, and use FRIEND on Base within the friendtech app.
Additionally, we are also waiving all protocol fees for BunnySwap, Club, and v1 smart contracts. Now, 100% of fees will go to traders, LPs, and clubs in the community.”
Last month, Friend.tech announced its departure from Base to partner with Conduct, a company that offers Ethereum (ETH) aggregation, to create its own network Friendchain.
Launching in 2023, Friend.tech allows users to connect their X accounts to their crypto wallets, creating a decentralized finance (DeFi) social media space where fans and creators can interact.
At the time of writing, the trading price of FRIEND is $0.323, down 22.4% in the past 24 hours.
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Featured image: Shutterstock/Pavel Chagochkin/Vladimir Sazonov