friend.tech Lianchuang hinted that it intends to withdraw from the agreement due to the unstable relationship between its team and Base, causing FRIE
On May 27th, it was reported that the co-founder of the Web3 social network friend.tech protocol (known as Racer) hinted at the intention to migrate the protocol out of Base. After this announcement, the native token of the protocol, FRIEND, dropped significantly. According to CoinGecko's data, FRIEND is currently trading at $1.01, with a 24-hour drop of 32.2%.
Racer wrote on X, "System Design Bounty: If you can find a way to migrate friend.tech out of Base without causing significant issues to users and it runs well enough, we'll decide to use it and pay you $200,000." In another post, Racer explained that the relationship between the friend.tech team and Base has always been unstable. "Investors in Farcaster went crazy when we launched because they misunderstood what we were doing. They put a lot of pressure on the team and users, and since then, our relationship has been going downhill. We have been excluded from the 'Base community'."
It should be noted that at some point on Sunday, Racer's post was no longer accessible, and it is currently unclear whether they deleted their account after posting.
In response, Jesse Pollak, the head of Base at Coinbase, admitted that the friend.tech team felt isolated and disconnected from some parts of Base and the Ethereum ecosystem. Pollak wrote, "If the team decides to leave Base, I will be sorry, but I will also respect and support any path - that's the beauty of decentralization and on-chain economics."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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