FriendTech Launches Native Token for Trading Alongside Airdrop Claims and Version 2 Rollout

The much-anticipated native token of FriendTech, a Web3 social media platform, has commenced trading on its decentralized exchange (DEX) on the Base network.

As reported by DexScreener, the Friend token is currently valued at $3, with a circulating supply of approximately 14.5 million tokens.

Since its inception in August last year on the Ethereum Layer 2 network Base, FriendTech has garnered attention for its innovative invite-only networking service. This service operates using social tokens known as "Keys," granting users access to exclusive chats and content from creators.

The token airdrop coincided with the launch of FriendTech’s version 2 (v2), which introduces several new features. Among these features are "Clubs," community spaces owned and managed by key holders. The keys to these Clubs will be transacted using Friend tokens, with a 1.5% fee applied to each transaction, contributing to liquidity providers on the platform's DEX.

To claim their airdropped tokens, users must join at least one Club and follow a minimum of 10 users on FriendTech.

Originally slated for April 29, the token and v2 launch was rescheduled for Thursday. FriendTech confirmed the completion of the snapshot for the May 3 airdrop distribution via an announcement on X on April 27.

FriendTech currently ranks as the ninth-largest protocol on Base, boasting a total value locked of approximately $30 million, according to DeFiLlama.

Disclaimer: The content provided here is for informational purposes only. It does not constitute legal, tax, investment, financial, or other advice. The website operates independently to provide objective information about the cryptocurrency industry.