Friendship with Friend.tech ended? 💔 Friend.tech v2 is now live, along with their native FRIEND token, but the launch did not go according to plan.
The app could not cope with the sheer number of users looking to claim their airdrop, leaving many helpless as the value of their airdrop steadily decreased.
Users were also unhappy with the lack of liquidity provided for the FRIEND token, as the team added just $0.01 of liquidity in ETH, according to crypto influencer 0xsleuth.
Shortly after the launch, the price of FRIEND briefly reached a peak of $169 but slowly fell by 99% to a low of $0.90 as more users were able to claim their airdrop.
However, as the app began to stabilize, members of the crypto community began to highlight the protocol's merits once more.
In particular, users brought up the fact that 100% of the FRIEND token supply was given out to users and not VCs, and also provides exposure to the narratives of SocialFi and the Base ecosystem
As the community started to look past the messy launch of Friend.tech V2, the price of FRIEND has since recovered by 193% to $2.64 as of the time of writing. Editor's Take:
As is often the case in the crypto space, the launch of new protocols can sometimes go horribly wrong. But at the same time, creating an app that can handle expectedly high amounts of traffic in 8 months is not a low bar to clear, yet the Friend.tech team still came up short. In case you forgot, users were actually paying up to $40 per Friend.tech point in the pre-launch markets. Clearly, these buyers must be devastated. | 
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