02 Sep 2023

    Inside Friend.Tech: Discovering Web3's Social Media Gem


    What if you could turn your online presence into a valuable asset that you can own and trade? That’s the vision behind, a revolutionary Web3 social media app that lets you create and exchange tokens based on your social media presence. is more than just another decentralized social network. It’s a new way of connecting with people and expressing yourself in the Web3 era. is the result of a bold and creative effort by a team of developers who wanted to challenge the status quo of social media. They envisioned a platform where you can monetize your popularity, your network, and your likeness, and where you can interact with others in a transparent and democratic way. blurs the line between online and offline relationships, giving you more control and freedom over your digital persona.

    But’s path to success has not been smooth. The platform has faced its share of challenges and controversies, from outperforming Uniswap and Bitcoin in fee generation in just 24 hours to facing backlash for its transaction costs and performance issues. has been in the spotlight for both good and bad reasons, attracting praise and criticism alike.

    In this blog post, we’ll take a closer look at, exploring its fascinating origins, its innovative features, and its potential to transform the way we communicate online. Join us as we discover the story of, the Web3’s social media sensation that’s taking the digital world by storm.

    What is

    Launched in August 2023, is a Web3 social media app where you can own and trade your online identity as a token. It was created by Twitter users oxRacerAlt and Shrimppepe, who are also behind projects like Stealcam. Basically, it is a revolutionary dApp that combines blockchain technology and social media in a new way. Unlike any other social network, it’s a platform where you can monetize your influence and connect with others in a transparent and decentralized way. has been interpreted differently by different users. Some see it as a social media hub for crypto enthusiasts, while others see it as a place to create and discover the next generation of creator tokens. Typically, is all about creator monetization. It lets you buy and sell shares (keys) of your favorite influencers, giving you direct access to their exclusive groups where they interact with their audience. You can think of the shares as the entry fee to join the group, and you can also sell them when you want to leave. It’s a unique way of engaging with influencers and their fans. is built on the Base Network, a blockchain platform that supports DApps and other Web3 development services. However, it is important to note that the platform is still in its beta phase, and only invited users can join. The platform is expected to launch officially soon, with more features and capabilities to be revealed.

    How is different from other social media platforms?

    In a world awash with decentralized social network offerings like Damus and Mastodon, stands out as a genuine game-changer. What sets it apart? The answer lies in its ability to let users tokenize their very presence, transforming the digital landscape in profound ways. Unlike conventional platforms, where an expanding influencer group often dilutes the value of shares, flips the script. Here, the more shares you have, the higher the price of joining their exclusive groups, where you can chat and interact with them. You can also sell your shares anytime, making it easy to switch groups or cash out.

    Essentially, the platform lets you tokenize friendships, where you can invest in shares of your friend's profile, boosting their popularity. The initial share purchase occurs at a base price, a value determined by factors like follower count, engagement metrics, and overall influence. For creators, presents an opportunity to sell shares (keys) of their social presence. As their engagement metrics soar, the value of their shares follows suit, creating a symbiotic relationship between the social and financial aspects of the platform. Creators reap financial incentives, while followers can potentially profit by flipping shares at higher prices, contingent on the creator's rising popularity.

    So, what makes truly stand out from the crowd?

    • Decentralization: operates on the blockchain and IPFS (InterPlanetary File System - to store and distribute content in a decentralized way), eliminating any single point of failure or centralized authority. You don’t have to worry about account bans, data leaks, or hackers, as you own and control your digital identity on

    • Democracy: is governed by its users, not by corporations or algorithms. You can have a say in how the platform evolves and operates. You can propose changes, vote on them, or delegate your votes to others. You can also create your own communities with custom rules and governance models.

    • Diversity: is a place where you can discover new ideas, cultures, and perspectives that you might not find on mainstream platforms. You can customize your feed to suit your interests and preferences, and explore different topics and viewpoints.

    • Rewards: pays you for your participation, not for your data or attention. You can earn tokens by creating content, engaging with others, and giving feedback. You can use these tokens to support other users or projects that you like, creating a positive cycle of online interaction.

    How Does Work?

    At its core, operates on a refreshingly simple premise. Whether you're a user or a follower, you can buy shares that grant you access to exclusive influencer groups. These shares act as your direct ticket to connect with your favorite influencers and unlock private group chats. But let's dive deeper into the mechanics of this unique platform.

    Step 1: Joining

    Getting on is a straightforward process, but it requires a few specific steps.

    • iOS Update and Safari Browser: Ensure your iOS is up to date, then open Safari on your iPhone.

    • Access Visit "" using Safari. Tap the "share" button at the bottom.

    • Add to Home Screen: Choose "Add to Home Screen" to create an icon for easy access.

    • Enter Invite Code: Open the icon and enter an invite code obtained from a member. (Each registered member has the privilege of sharing three invite codes. The best way to obtain these codes is by scouring platforms like Reddit or Twitter (X))

    • Log In and Link Accounts: Use your Google account to log in and link your Twitter (X) profile.

    • Bridging Ether (ETH): To activate your account, bridge a minimum of 0.01 ETH from the Ethereum mainnet or Arbitrum to the base wallet address displayed.

    • Use Orbiter.Finance: Complete the ETH transaction using Orbiter.Finance, but note that it may take some time for your base wallet to reflect the sent ETH.

    Withdrawal Notes: Keep in mind that withdrawals require a third-party wallet where your crypto wallet should be imported. Be prepared for gas fees.

    Step 2: Tokenize your social connections

    Next, you can create shares of yourself. These are tokens that represent your social connections. You can use them to trade with other users or join their groups.

    Step 3: Trade your shares

    Then, you can start trading your shares with other users. You can buy shares of influencers or friends that you want to connect with or sell shares of yourself to monetize your online presence. You can also switch groups or cash out anytime.

    Step 4: Enjoy premium features

    By trading shares, you can unlock premium features that enhance your experience. You can chat privately with other users, access exclusive content, and join communities that match your interests.

    Paying the transaction fee

    Finally, you should know that every trade on has a 10% transaction fee. This fee helps the platform run smoothly and encourages user engagement. Half of the fee goes to the user who sells or buys the share, while the other half goes to the treasury, which supports the platform’s growth and development.

    Furthermore, offers features that allow you to actively engage with the platform and potentially reap rewards.

    For instance, you can help grow by inviting your friends to join the platform. You can generate invite codes, share them with your friends, and earn points for doing so. These points can help you qualify for the airdrop, where you can get tokens and rewards. 

    Moreover, if you want to trade shares on, you can use the FriendMEX platform. It gives you various options and strategies to trade with other users.

    Noteworthy Features

    Imagine your friend is a creator new to You can invest in their journey by purchasing "Keys" (formerly known as "Shares") of their account or simply follow them. As their network grows, the value of these Keys appreciates, benefiting both the creator and you as a shareholder. isn't limited to supporting your friend; it's a place where someone can invest in your account, too, based on the value your network provides. In this ecosystem, your network's worth reflects your overall influence.

    How Are the Share (Key) Prices Determined? has a unique feature that makes the share prices go up exponentially. It’s called the bonding curve, and it’s a mathematical formula that links the share price to the share supply. The more shares are bought, the higher the price goes.

    Here’s how the bonding curve works:

    The Buying Price Formula: The price you pay to buy a share in ETH is based on this formula: (n ^ 2) / 16000. Here, n is the total number of shares in the group, and 16000 is a constant chosen by

    The Selling Price Formula: The price you get to sell a share in ETH is based on this formula: ((n-1) ^ 2) / 16000. Here, n is the same as before, but minus one.

    The interesting thing is that the buying price and the selling price are not the same. They get further apart as more shares are bought and sold. However, the difference between them, as a percentage of the selling price, gets smaller as grows. This means that those who have more shares can make more profit by selling them.

    The bonding curve is a clever way to make the share prices rise and create incentives for users to invest in It’s also a complex way that requires some understanding of math and economics. If you want to make the most of your experience, you should learn how the bonding curve works and how it affects your share value.

    While the bonding curve presents exciting opportunities for share price appreciation on, it's essential to be aware of its flipside. As the platform grows, the spread rate—indicating the difference between buying and selling prices—decreases. This means that as expands, it becomes more challenging for smaller accounts to profit, favoring those with larger holdings.

    Here's a valuable tip for users: You can calculate the "supply" function if you know the current share price of a creator. This information is conveniently displayed below the creator's name. It's a useful tool for gaining insights into share prices and supply dynamics on the platform, helping you make informed decisions.

    Driving Factors Behind's Price Surge

    While the bonding curve is a key player in boosting share prices on, there are other pivotal factors at play:

    • Possible Bot Activity: Automated bots may be influencing initial "key" purchases and impacting prices.

    • Increased Purchases: A higher number of purchases leads to more outstanding shares, driving supply up and raising the buy roof price.

    • Airdrop Anticipation: The promise of rewarding airdrops is drawing more users to the platform.

    • Celebrities on Board: boasts a roster of notable names, including trading influencer RookieXBT and NBA sensation Grayson Allen, further fueling interest.

    These elements, combined with external factors like Paradigm's recent funding round, contribute to the revenue surge on The platform's growth is evident in increased buyer and seller activity, as highlighted in a discussion thread reacting to Paradigm's funding news.

    Key Insights About Airdrop is planning to launch its own token and airdrop it to its users. This has created a lot of excitement and demand for the platform. Here are some key facts and tips to help you understand and join the airdrop:

    Key Facts and Setup:

    • has nearly 93,000 unique buyers as of August 23, 2023.

    • raised $50 million from Paradigm in a Series A round, with token warrants included. This suggests that a token launch and airdrop are coming soon.

    • announced that it would give out 100,000,000 points to beta app testers over six months, starting from August 15, 2023. These points might be related to the token and airdrop.

    Possible Airdrop Value:

    • The value of the airdrop depends on the value of the platform. If reaches a fully diluted value (FDV) of $200 million in the next six months, which is possible given that it generated over 3 million in fees in less than two weeks, then each point could be worth around $0.60.

    • The airdrop could distribute 30% of the FDV to the users as points, which would amount to $60 million.

    Eligibility and Process:

    • To be eligible for the airdrop, you need to be on

    • You need to buy shares of other users, which will also let them buy more shares. You will get 5% back from each share purchase.

    • You need to trade shares with other users to increase your transaction volume.

    • You need to share three invite codes with your friends to earn more points.

    The Unique Advantages of

    Beyond the financial incentives, offers a streamlined and user-friendly experience in the Web3 space. Here are a couple of notable benefits:

    • Simplified Web3 UI: simplifies the web3 user interface. After making a deposit, you're spared from the hassle of requiring signatures for every transaction. Entering the app once is all it takes to navigate seamlessly.

    • Effortless Access: Unlike traditional apps that require downloads from the Play Store or the App Store, operates as an app without the need for elaborate installations. It's a hassle-free way to engage with the platform.

    These advantages are reflected in's impressive daily transaction numbers, comparable to the popularity of Ethereum's layer-2 network, Optimism. The platform combines the allure of Web3 with user-friendly accessibility, making it an enticing option for both newcomers and seasoned blockchain enthusiasts.

    Concerns Surrounding

    While offers enticing opportunities, it's crucial to be aware of certain security and privacy considerations:

    Privacy Issues:

    • Twitter (X) Connection: Linking your Twitter (X) account to could expose you to hackers. You can disconnect “X” from your settings to be safer.

    • Database Leak False Alarm: was accused of leaking its database, but the DeSo platform clarified that there was no leak, and all the data was public anyway.

    • Mobile-Only Access: can only be used on mobile devices for now, which might make you uncomfortable about sharing your personal information. There is a workaround for Mac users who want to use it on a PC.

    Security Issues:

    • Co-Founder Scandal: Some people have doubts about the co-founder’s credibility, especially Shrimppepe’s alleged involvement in security fraud.

    • API and Bot Issues: Cygaar found some problems with the API and the lack of bot protection on the backend, which could affect the share prices and the security of the platform.

    • Server Custody: still keeps your wallet keys on its server, which means it has some control over your assets. This could be risky if the server gets hacked.

    • No Privacy Policy: does not have a privacy policy on its website, which might make you wonder how it handles your data.

    Tips to Avoid Scams

    Here are some essential tips to avoid falling victim to scams or compromising your privacy.

    Disconnect Twitter Accounts: Start by disconnecting your Twitter accounts from the app to enhance privacy and security.

    Desktop Usage: For added privacy, consider using on your desktop by changing the user agent to Android. This safeguards your information.

    Trade Wisely: Before buying or selling shares, carefully examine the spread, the number of shares outstanding, and the buy and sell rates. Being diligent can help you avoid scams.

    Beware of Other Digital Assets: With the platform's popularity, other digital assets may surface. Exercise caution and focus on the official user shares listed on

    Gas Fees Awareness: operates on the Coinbase-specific Base chain, a layer-2 network of Ethereum. Be cautious of scams offering zero gas fees for onboarding to layer 2 networks. Such offers are often fraudulent.

    Anonymous Email: Consider using an anonymous email for registration to enhance your privacy.

    Fresh Wallets: Fund the base wallet from a new and fresh wallet to minimize risks associated with older wallets.

    Conclusion presents an intriguing concept, but it's essential to remember that trends in the crypto and web3 space can fade quickly. However,'s focus on the creator economy and social tokenization could provide sustained demand for shares if creators consistently produce valuable content.

    Looking ahead, it will be interesting to see if introduces new features, such as tipping, to enhance utility. Despite some skepticism about the share pricing model, investing in creators appears promising and forward-looking.

    As with any emerging platform, vigilance and informed decision-making are your best allies when exploring the potential of 

    Nonetheless, you can certainly give it a shot and embrace the power of Web3 with And when you’re ready to explore its potential for your business, consider Codezeros, your trusted Web3 App Development company. Explore limitless possibilities with us!

    Post Author

    Vivek Adatia
    Vivek Adatia

    Vivek is a passionate writer and technology enthusiast with expertise in blockchain development. As the lead writer for Codezeros, he aims to educate and inform readers about the potential of blockchain technology and simplify complex concepts to present them in an engaging manner for both technical and non-technical readers.

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