Friend.Tech Say Sorry to the Prior Statement of Punishing Users If They Use Copycat Apps

Friend.Tech Say Sorry to the Prior Statement of Punishing Users If They Use Copycat Apps
Source: Friend.tech

Decentralized social media (DeSo) app friend.tech has been met with intense criticism over a decision to punish users who opt in to forks or copycat versions of its tokenized social media platform.

“To make sure loyal users are rewarded fairly during our beta, users moving to forks and copies will automatically opt out of earning Points and forfeit existing points,” wrote the official friend.tech X account in an Aug. 28 tweet.

Friend.tech has been airdropping “reward points” to its beta testers every week, which will total a distribution of 100 million points over 6 months.

The team has not yet shared what the points will be ultimately used for, only mentioning on Aug. 15 it “will have a special purpose when the app enters official release status.”

In a latest statement on X(Twitter), Friend.tech admitted the prior decision to punish users was a stupid decision and apologized for the wrong message sent to users.

Friend.tech have declined more than 90% from its peak of nearly 525,000 transactions on Aug. 21, with less than 50,000 cumulative transactions on Aug. 28, according to data from Dune Analytics.

Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!

Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!

If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com

Source

Social

Web3

Related News
Story Protocol confirms public mainnet to launch on Feb. 1 Story Protocol confirms public mainnet to launch on Feb. 1
LINE introduces Telegram-style Dapps to boost Web3 adoption in Asia LINE introduces Telegram-style Dapps to boost Web3 adoption in Asia
Aethir Launches Decentralized Cloud Compute Network on Ethereum Mainnet Aethir Launches Decentralized Cloud Compute Network on Ethereum Mainnet
Decentralized Identity Project Humanity Raised $30M, Led by Kingsway Capital Decentralized Identity Project Humanity Raised $30M, Led by Kingsway Capital
Witness Chain Attracted over $5B worth of Delegated $ETH from EigenLayer Restakers Witness Chain Attracted over $5B worth of Delegated $ETH from EigenLayer Restakers
Latest News More More
5 Hours Ago Aave founder confirms new token will not be created, citing DAO consensus on Horizon proposal
5 Hours Ago OKX suspends DEX aggregator following Lazarus 'misuse' and heightened EU scrutiny
3 Days Ago ZKsync sunsets ‘Ignite’ token rewards for DeFi ecosystem, cites market conditions and focus on Elastic Network
3 Days Ago Solana's key SIMD-228 proposal fails to pass validator vote, token emissions unchanged
4 Days Ago GnosisDAO votes to invest further $4.8 million to fund HOPR's in-house development of private, uncensorable VPN
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open