- Buddy.tech v2 launch has induced considerations amongst crypto customers as FRIEND token drops nearly 98%.
- Crypto group airs their displeasure with the sudden drop in worth after a whale dump.
- Because the airdrop went dwell, the web3 social media platform has raked in over $1.Three million in charges.
Learn extra: Buddy.tech set to introduce non-transferable token following Eigen’s footsteps
After Buddy.tech model 2 launch on Friday, its newly launched FRIEND token crashed considerably, inviting criticism from a number of customers. Customers additionally complained about poor performance in its Membership function.
FRIEND token tanks after launch
The launch of Buddy.tech v2 has stirred considerations amongst crypto customers, because the FRIEND token worth dropped nearly 98% a couple of hours after it went dwell on Friday, in keeping with information from CoinGecko.
The autumn in FRIEND’s worth got here after the most important whale offered all of its tokens proper after the launch, inflicting the worth to dip about 50% initially earlier than an additional plunge. A number of customers complained of an API failure that prevented them from claiming their tokens whereas the worth dipped earlier than their eyes.
A number of weeks earlier than its launch, most crypto group members anticipated Buddy.tech v2 launch to deliver progressive options to the crypto ecosystem. Nevertheless hours previous to its launch, the web3 social platform confronted an enormous backlash after a leaked good contract speculated that the airdrop was non-transferable.
Additionally learn: Buddy.tech V2 launch and hypothesis over potential airdrop pushes TVL above $40 million
The crypto group has continued to share displeased feedback on the worth drop. X person Bera posted:
“I’ve misplaced all religion within the cryptocurrency area after the Buddy Tech launch. $FRIEND was alleged to unite us as pals, merchants, speculators, and buyers.”
One other person posted
So Buddy Tech launch was top-of-the-line examples of not what to do!
1) couldn’t promote via the app for “some motive”
2) buggy af and transactions not working.
3) declare course of was wack as fuck, can solely declare your full quantity if you happen to be a part of a bunch, however the least expensive group to…
— cryptogoblin (,) (@Crypto_Goblinz) Might 3, 2024
Many buyers additionally raised considerations in regards to the Buddy.tech app performance amid the launch. Customers have complained in regards to the app not working correctly as a result of a poor interface.
Its Golf equipment function additionally obtained fierce criticism from customers. On the intense facet, many have praised it as one of many first crypto initiatives just lately to launch pretty, with all tokens airdropped on to the group. Nevertheless, Ethereum investor @eric.eth famous the spectacular quantity of charges it has raked in via its 1.5% swap charge.
Learn extra: SocialFi tokens rally as crypto influencers deliver again Buddy.tech
Appears like Friendtech v2 built-in their very own trade in app (RabbitRouter + BunnySwap) that takes 1.5% swap charge.
421E in swap charges have already been accrued at 0x831be9e08185eba7d88aab1efc059336babef430 pic.twitter.com/6Ei8FfxyTR
— eric.eth (@econoar) Might 3, 2024
Buddy.tech initially launched in August final yr on the Ethereum Layer 2 Base chain, attracting hundreds of customers earlier than experiencing a decline.
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