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SocialFi Friendtech app to develop your own blockchain
Friendtech is leaving Base in favor of its own native blockchain, built with assistance from Conduit.
The SocialFi Friendtech app has revealed plans to build its own native blockchain, called Friendchain, which will be developed with the help of Conduit, a platform for rapidly deploying rollups on Ethereum-compatible networks.
The move comes as daily active users (DAU) and the FRIEND token price are both near all-time lows.
Conduit allows users to “deploy a rollup in minutes, not months.” The no-code platform has given rise to other popular rollup chains such as Zora, Aevo, and Orderly.
After its launch in August last year, Friendtech took the cryptocurrency industry by storm and racked up $50 million in fees in less than 3 months. However, usage, rates, and sentiment around the social-fi dApp have fallen dramatically from October 2023 highs.
FRIEND is up 18% in the last 24 hours, with a market capitalization of $85 million.