Why did friend.tech become popular?

Author: Dragos, member of Onchain Angels; translation: Jinse Finance xiaozou

I wanted to write an article about friend.tech and why I think it will continue to grow and also be social for the first iterations of Web3. I don't pay enough attention to the growth of TG Bots, so I promise myself that I will be more proactive when there is a potential new Meta.

1**, the point of view of this article**

Friend.tech combines 3 essential elements so it can go viral quickly:

Utility - This is great for the crypto niche market, giving people access to celebrity accounts they wouldn't otherwise be able to interact with.

Basic - The blockchain part works well, running on the Base chain, with a daily transaction volume of around 10,000.

Speculation - This is critical as it acts as a flywheel for adoption; people are betting on a creator boom (similar to NFT mania) and are actively accumulating airdrop PTS.

This is smart because it gives degens what they want most - alpha and access to celebrities/KOLs; want to learn from Hsaka? Then buy a stock and you can ask a question on his channel. After the initial excitement, activity at friend.tech has calmed down but maintained a consistent routine.

Some people only used friend.tech to launch in the first few days and then abandoned it, but you can see that the accounts that actively launched alpha and engaged with shareholders, even after the initial frenzy subsided, the stock price rose to all-time highs .

It's not a new idea, but I think it could stand out and create a new meta. Bitclout is not very honest, lacks interactive elements, and Lens is trying to catch up (why use Lens when you can use Twitter/X?)

Ironically, its glitches and (currently) lack of features have led people to dismiss it as a whim - which may have provided an opportunity for those who bet on the project early. (Or it could help them get bags for free, we'll find out soon.)

2**、Advantage**

· Runs on Base - Thanks to Base, it becomes the L2 with the greatest potential for retail inflow; transactions can pass through smoothly and seamlessly.

· Easy to operate (regular and friendly) on the mobile application - no need for hardware wallets, metamask/rabby wallets, etc.

Creator shares are rising and they are incentivized to drive volume (they make money from buying and selling shares).

· Airdrop rewards keep everyone on the app active and wanting more points.

New Meta - looks like this is more attractive than Bitclout or Lens.

Base itself has a larger daily transaction volume than Arbitrum or Optimism, and friend.tech is a very important reason.

3**、Disadvantage**

· Interface glitches - Sometimes the chat content does not load successfully.

· Currently only supports SMS, lack of other features - no photos, etc. (imagine the need to share charts, load links normally, etc.).

Airdrop rewards for the first points system being rolled out now might lead one to think that most of the activity so far has been due to people accumulating points.

· Bear market, low interest rates, not many people using the app.

· Bonding curves for stocks may introduce some psychological bias that discourages people from buying stocks.

The more holders there are, the more the next person who comes in pays to get 1 share. But the number of holders also increases and decreases with the buying/selling situation. This is different from the case of NFTs, where you can place orders for NFTs at different levels, but the number of NFTs always remains the same. Contrary to the liquidity of NFT floor prices, friend.tech's bonding curve is linear and can be flattened by equity dilution (hopefully in progress).

4**、How do I do it**

First, buy 1 share of all the creators I want to access on the mobile app, if you can't buy some of them, you can go to Friend Index to buy, Friend Index is a cool account created by 0ctoshi.etch, above Summarizes popular posts from friend.tech celebrity accounts.

The second step is to bet on the initial "blue chips" - the big accounts that embrace the platform and are hyperactive. The account @blknoiz06 has been super active, ranking third in market value; the account @0xRacerAlt is the founder of friend.tech, so betting on his stock can act as a proxy for the entire app.

You can then bet on those "small" accounts that deliver value to shareholders - either starting with betting on them when they first join the platform, or betting on their future growth in value. To name a few: @d_gilz, @Teeznutz11, @AvaxGems, @lBattleRhino are all active.

There are many other accounts that are also excellent, so you need to do your own research. Some stock prices may look high, but I think the market capitalization is small compared to their potential if the app catches on.

The top five accounts with a market capitalization between $20,000 and $40,000:

5**, useful tools and resources**

Use Crypto Koryo's Dune dashboard to monitor all relevant metrics.

I use two tools, one is realfriend.tech, which may be the best UI for desktop operation friend.tech, however, you need to hold 1 share of iam4x to use (0.4 ETH), and a sniper robot FriendMEX, this is freeware.

I really think friend.tech has a chance to become a new Meta and take projects like this by storm; however, if you wait until the metrics, UI/UX, and adoption all improve, the return on earnings will be far less compelling than it is now. While still an MVP, it could be very different 6 months from now.