The developers of Web3 social network #friend.tech transferred control of their smart contracts to Ethereumâs burn address, effectively locking the system and preventing any changes. đ€·
đ Following this, the token dropped another 26% and is now trading at $0.06 with a #marketcap of $5.6 million.
Despite this change, the Friend.Tech web app remains functional.
đ Launched on August 10, 2023, on the #basenetwork , the platform allowed users to tokenize profiles but quickly lost 90% of its activity within weeks.
In May 2024, the team launched a second version and a troubled airdrop, causing the FRIEND token to crash from $169 to $1.4.
