Compared with the recent complaints about EigenLayer and Renzo for using points to create a token market, Friend.tech's token launch has received a lot of praise.
Friend.tech Token$FRIEND 100% airdropped to the community, while other protocols are 5% to 15%. Friend.tech's Club is like a Telegram chat room, but the fee to join will continue to increase.
Speculation on individual influencer prices has now been replaced by speculation on Clubs. $FRIEND has been a utility token since day one, the payment currency for joining a Club. To date, more than 113,000 Clubs have been created.
The more Clubs are created and the more members join, the greater the locked supply of $FRIEND. In addition, the use of two-pool liquidity mining is not groundbreaking, but by incorporating additional fees for joining the Club, the LP model has gained sustainability at Friend.tech. Higher Club entry fees lead to increased LP income.
FRIEND token LP providers can earn rewards in 3 ways:
1. Each transaction will be charged 1.5% of the ETH/FRIEND transaction fee;
2. LM rewards 12 million FRIEND within 12 months;
3. 1.5% of Club Key transaction fees in FRIEND tokens.
Crypto KOL @0xGoldenDegen shared his 2 views on Friend.tech:
- Friend.Tech’s Club is a new paradigm, the ultimate casino, but with social proof, tokenized group chat, and more
- The price of $FRIEND token will reach $10, currently it is around $2.5, which means a 300% increase.
No. 1: Club is a new paradigm, similar to PumpFun, the ultimate casino, but with social proof etc.
Just like PumpFun was a new paradigm where everyone could create tokens that could not be abused and were 100% secure with the click of a button, now this is also possible on Friend.Tech and Club.
They are all the same, they are all tokens with a bonding curve, and to Club they are transferable, just like tokens.
So in a way, Club is the indestructible token, if you buy it you get access to the group chat, it’s tokenized but has extreme tribalism and social proof associated with the creator who makes the decisions about sales, distribution, airdrops, etc. and can be held accountable.
It's like pumpfun, anyone can and will issue tokens, these tokens will be used as stakes, and creators and holders will be held accountable through social links, so it's the ultimate casino, and it ties your internet and on-chain reputation. For creators, this brings more responsibility and motivation to do well.
In a way, Club is the safest way to create tokenized communities and tribes, group chats just act as TG for memecoin, but better than TG because in TG the creator has all the power and can mute people, but in Club the community has all the power, even over the leader. Also, in regular memecoins anyone can join the group, causing it to be less organic/people more cranky because they don't have a position, in Club it will be more active and have a smaller circle of only real community members because since the group chat is tokenized all members are holders.
Club is the ultimate casino, the ultimate social proof and the future.
No. 2: $FRIEND will reach $10
To purchase these Club/Meme Coins you must use $FRIEND, so ultimately the base layer token $FRIEND will see the majority of the appreciation.
In a way, Club partially locks up your $FRIEND, forcing you to hold. This is similar to how Degen created their own L3, where all the gambling value that happened there was just accruing value to the underlying token $Degen, which is the same thing that happened on FriendTech, the token on the Degen chain is the equivalent of Club on Friend.Tech. The $DEGEN token is the $FRIEND token, just on the Friend.Tech app, and we all know what happened to DEGEN, just look at the chart and see how much it went up, except Degen is much smaller and less important than FriendTech, so the accrual of Friend value will be exponentially larger.
KOL sold at the bottom, venture capital had 0 allocation, the market bought in, it was hyped up to the sky before it was released, and was hated by people (the more you hate a coin, the better it will rise).
And then there is the conspiracy theory:
The Friend.tech V2 launch was messy on purpose, as the VC allocation was 0, and this happened intentionally.
The community owns 100% of the tokens, this is the fairest token launch we have ever seen, 0% team, 0% marketing, 0% VC, 0 unlocking, all belongs to the community.
Also, almost every token in the past has been launched with a ridiculous FDV/MC ratio, but look at friendtech, the fairest FDV/MC ratio with almost 0 inflation.
I said when FRIEND was $1 that FRIEND was undervalued based on the P/E ratio alone, they generated over $60 million in expenses, over $30 million in revenue, and still had a FDV of $250 million.
The mood seemed like it couldn't get any worse, it was perfect, the best of what was most simply assembled to be the best.
With 0% distribution to the team, VCs, etc., $FRIEND has become a social/meme token.
Degen, the Farcaster sub-token (not even an actual token), has a FDV of $1 billion, where:
- Total users: 343,576
Friend, the actual FriendTech token, still has a FDV of $250 million, including:
- Total revenue: $30.86 million
Do you see this mispricing? This means there is a lot of growth potential left in $FRIEND.
The above content does not constitute investment advice. Friend.tech tokens have just been launched and are relatively risky.
