Any thoughts on Friend(dot)tech circulating now on Twitter?

[Joseph-P]

As far as the title goes, surely some of you have noticed this trend about the social thing on friend tech. Lots of influencers have gaining extra money and eth upon creation of their profile which were bought by other people and collecting massive fees on trading and the value it gives them. Ive tried it out to see how it goes and it really favors CT and influencers that are famous. What are your thoughts on this? Ive seen some doing a quick buck trading as well. Its like a systematic nft trading but with the use of profile as commodity.

Not sure the trend will stay strong as some are just making money when the price rise up already and sold. Wanted to know anyones opinions. Or does anyone also try it already? They have a point system which updated every friday but not sure what this for, could be an airdrop thing.

Well just as you said, I also don't think the trend will stay strong. In my opinion, its gained this much attention because really there is nothing of that much interest happening in crypto right now. I only first heard about it while discussing Bitget's new bot trading options with a friend, and my immediate response was dat friendtech will go to dust soon. We've already seen a clone of it get phished of around $3m. It can only go downhill from here.

[fillippone]

It's a bot land over there at the moment.
You either get devoured by BOT, who buy your shares as you join and then dump you as soon your key get bought by yourself of a friend, or either there are some group like (3,3) where you can pump and dump (again..) some "heavy" keys, with older users benefitting the most.
I have seen many of these in the FIAT world to be amused again ina decentralised way.

[nelson4lov]

Despite popularity of Friend tech, I'm yet to see beyond the hype. No clarity about what it's unique selling points are. It was all the rage simply because they created a bottleneck and hype out of the sheer fact that only the top influencers were onboarded then and the FT team got them to shill it via the fact that participation was/still is invite ONLY.

It's a bot land over there at the moment.
You either get devoured by BOT, who buy your shares as you join and then dump you as soon your key get bought by yourself of a friend, or either there are some group like (3,3) where you can pump and dump (again..) some "heavy" keys, with older users benefitting the most.
I have seen many of these in the FIAT world to be amused again ina decentralised way.

As expected. It sounded too good to be when it was first launch so it's probably over-milked at this point. My biggest issue with the platform has been the fact that prices of keys are heavily maniputed and the MEV-like bots that sweeps keys is a big no no.

[fillippone]

As expected. It sounded too good to be when it was first launch so it's probably over-milked at this point. My biggest issue with the platform has been the fact that prices of keys are heavily maniputed and the MEV-like bots that sweeps keys is a big no no.

I am still experimenting with other SoFi apps and just landed on Cipher.
There it seems there aren't any MEV and the trading activity is more balanced dopamine-driven.
Not a good experience thou, as at the moment the app isn't functioning properly as I cannot "tweet".

[cryptoaddictchie]

It's a bot land over there at the moment.
You either get devoured by BOT, who buy your shares as you join and then dump you as soon your key get bought by yourself of a friend, or either there are some group like (3,3) where you can pump and dump (again..) some "heavy" keys, with older users benefitting the most.

Thats true. I didnt knew you were into experimenting on these kind of project too. So far my record is on loss due to a lot of pump and dump users. Well cant really blame them as soon they saw their favorite CT being pumped and eat those gains. Though they can earn fees if continously been trading by users.

[nelson4lov]

As expected. It sounded too good to be when it was first launch so it's probably over-milked at this point. My biggest issue with the platform has been the fact that prices of keys are heavily maniputed and the MEV-like bots that sweeps keys is a big no no.

I am still experimenting with other SoFi apps and just landed on Cipher.
There it seems there aren't any MEV and the trading activity is more balanced dopamine-driven.
Not a good experience thou, as at the moment the app isn't functioning properly as I cannot "tweet".

Not sure if it's the same but I've heard about a cipher soFi that uses the concept of cores. Anyway, this is something I don't really like with web3 builders and founders. Everybody just waits till one project makes a breakthrough in a niche trend then everybody tries to reinvent the wheels on different chains in a bid to scoop out liquidity on that chain.

Happened with NFTs, Metaverse, Lending protocols and now SoFi with FriendTech, Star arena and now Cipher. Never gets old.