It’s been a messy launch for friend.tech’s FRIEND token
Judging by the reaction to today’s FRIEND airdrop, SocialFi platform friend.tech has made more enemies than friends. The FRIEND claims process turned into a race for the exit, as technical difficulties forced users to resort to workarounds to dump on each other. The heavily-’farmed,’ 100% community airdrop meant no market makers to steady the price, leading to a purely ‘PvP’ rush to sell as quickly as possible. With just 10% of each user’s allocation available to claim directly, receiving the full allocation meant joining a ‘Money Club’, as well as following 10 other users on friend.tech’s new v2. However, despite the SocialFi project initially having launched last summer, the new user interfaces weren’t working as smoothly as one would expect from a Paradigm-backed project with over $50 million in fee revenue . Technical difficulties Researcher 0xCygaar noted that the surge in traffic had overloaded friend.tech’s backend, with apparently no scaling measures in place. However,...