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The All-in-One Guide to Friend Tech 📚
@friendtech has taken this space like storm. It's been getting a lot of traction, capital inflow and bringing up opportunities for everyone involved.
Here's all you need to know 👇
@friendtech has taken this space like storm. It's been getting a lot of traction, capital inflow and bringing up opportunities for everyone involved.
Here's all you need to know 👇
First off, it might be smart to 🔖 Bookmark this thread for future reference.
Let's dive straight in!
Let's dive straight in!
1. What is Friend Tech and how does it work?
2. What ways are people making profit from it?
3. Airdrop
4. What I'm doing on Friend Tech
5. How I see the future for this platform
6. How to get on Friend Tech (Getting a Code & Bridging)
2. What ways are people making profit from it?
3. Airdrop
4. What I'm doing on Friend Tech
5. How I see the future for this platform
6. How to get on Friend Tech (Getting a Code & Bridging)
🔶What is Friend Tech and how does it work?
Friend Tech is what we call a "SocialFi" platform in this space. It gives people the opportunity to buy and sell shares of certain Twitter accounts that are on there. By now, many of the biggest Twitter accounts on here have joined.
Friend Tech is what we call a "SocialFi" platform in this space. It gives people the opportunity to buy and sell shares of certain Twitter accounts that are on there. By now, many of the biggest Twitter accounts on here have joined.
After buying a share, you get access to that person's channel in which you can type to that person.
These messages are only visible to the person you're holding the share from. The messages they post are visible to ALL shareholders.
These messages are only visible to the person you're holding the share from. The messages they post are visible to ALL shareholders.
When buying a share of someone, the price goes up in. Kind of like a staircase where it moves in these increments on each buy and sell.
Below you can see Cobie's chart. The tool used to watch this is called FriendMex.
Below you can see Cobie's chart. The tool used to watch this is called FriendMex.
Besides price moving up and down there's some fees involved in buying and selling shares.
🔸5% of the share price goes to the Friend Tech treasury.
🔸5% of the share price goes to the person that you're buying or selling the share from.
🔸5% of the share price goes to the Friend Tech treasury.
🔸5% of the share price goes to the person that you're buying or selling the share from.
Obviously the latter is interesting for big accounts which are generating a lot of volume with their shares.
For me, this has been 0.479 ETH so far.
Some of the bigger accounts are easily making 1 ETH a day from this.
For me, this has been 0.479 ETH so far.
Some of the bigger accounts are easily making 1 ETH a day from this.
You can imagine that if your share price is high, the fees will be high and the revenue share will be high.
This gives people a big incentive to push their shares so they are generating a lot of volume.
This gives people a big incentive to push their shares so they are generating a lot of volume.
The nice thing about this is that influencers don't need to sell their own shares to make money.
The downside is that these heavy fees will hurt anyone buying or selling them. But then there's the airdrop! 🎈 More about that later.
The downside is that these heavy fees will hurt anyone buying or selling them. But then there's the airdrop! 🎈 More about that later.
🔶What ways are people making profit from it?
There's 3 ways:
1. People buy or sell your shares and you get a fee split.
2. Buy shares and sell them higher.
3. Airdrop?
There's 3 ways:
1. People buy or sell your shares and you get a fee split.
2. Buy shares and sell them higher.
3. Airdrop?
The first point we've just discussed already and the second point seems self explanatory.
Often it's a pretty easy quick flip if you're quick on buying a big account that just joined.
Often it's a pretty easy quick flip if you're quick on buying a big account that just joined.
One thing people like @iam4x have been doing is building MEV bots that look for newly created accounts with big followings to instantly buy the first few of their shares and flip them for a profit.
Obviously this has been very profitable for people managing to do this.
Obviously this has been very profitable for people managing to do this.
Because of this, many people can't even manage to get their own shares for cheap because others are front-running them.
Luckily you get one of your own share for free when you sign up :)
Luckily you get one of your own share for free when you sign up :)
🔶 Airdrop
Now this is still a lot of speculation and no one knows if this will be about a token or anything else.
Each Friday, until the beta ends in 6 months, there will be a "point" distribution which will "have future uses in Friend Tech".
Now this is still a lot of speculation and no one knows if this will be about a token or anything else.
Each Friday, until the beta ends in 6 months, there will be a "point" distribution which will "have future uses in Friend Tech".
It's still unclear what actually contributes to getting these points but supposedly it's mostly based on the fees you generate by buying and selling shares.
I think it's likely that activity on your own shares also gives points.
I think it's likely that activity on your own shares also gives points.
This is smart as it will help keep the platform activity high as there will always be airdrop farmers and people justify buying and selling because there's a chance of getting a future airdrop.
Once again, no one know what this will actually be and if it will have monetary value
Once again, no one know what this will actually be and if it will have monetary value
🔶What I'm doing on Friend Tech
I've joined about a week ago and tried everything out. Bought some, sold some, currently mainly holding shares of people that hold mine. If I don't, then let me know, hard to keep up sometimes.
I've joined about a week ago and tried everything out. Bought some, sold some, currently mainly holding shares of people that hold mine. If I don't, then let me know, hard to keep up sometimes.
I decided I won't be holding all of my friends on there as it puts this "social pressure" of not wanting to sell others.
It all sounds a bit childish and maybe it is, but it's a weird dynamic if you've got a big following yourself lol. I'd rather not start that dynamic at all.
It all sounds a bit childish and maybe it is, but it's a weird dynamic if you've got a big following yourself lol. I'd rather not start that dynamic at all.
Things I will be using my channel for:
🔸 Q&A Ask whatever question you want to ask.
🔸 Post some insights before I post them on Twitter.
🔸Once images are enabled I'd like to post trades/charts as well.
Might add more in the future!
🔸 Q&A Ask whatever question you want to ask.
🔸 Post some insights before I post them on Twitter.
🔸Once images are enabled I'd like to post trades/charts as well.
Might add more in the future!
I'm perfectly happy doing this stuff as long as the app stays alive and it's all fun.
Not here to shill my own shares with fake promises and what not. The revenue I get isn't much anyways as my shares aren't that expensive.
Just want to be transparent and fair.
Not here to shill my own shares with fake promises and what not. The revenue I get isn't much anyways as my shares aren't that expensive.
Just want to be transparent and fair.
There's a lot of people also vouching for buying back their own shares using their fee share. I've done this before but also realize it moves the price of the share up which might price out people that want in.
Rather not make the value artificially high in my opinion.
Rather not make the value artificially high in my opinion.
🔶 How I see the future for this platform
It's definitely something that's been tried before and failed. Will this time be different? Who knows!
There's definitely a lot of improvements to be made like adding the ability to post pictures and just overall UI improvements.
It's definitely something that's been tried before and failed. Will this time be different? Who knows!
There's definitely a lot of improvements to be made like adding the ability to post pictures and just overall UI improvements.
Right now, the app is mostly filled by people from Crypto Twitter/X.
I could imagine that some big influencers/celebrities outside of our little space would start joining at some point if the platform survives. This would of course bring in a lot of additional capital.
I could imagine that some big influencers/celebrities outside of our little space would start joining at some point if the platform survives. This would of course bring in a lot of additional capital.
Besides that, I wonder how the dynamic will be with people trading shares in the future.
Most people buy 1 share simply to gain access to the value the person provides.
The more expensive shares get, the more value is expected. But you can't infinitely scale your own value.
Most people buy 1 share simply to gain access to the value the person provides.
The more expensive shares get, the more value is expected. But you can't infinitely scale your own value.
This makes it so that people will have to keep up with the constant pressure of providing value to not get "angry" shareholders.
I guess it all balances out in the end though.
I guess it all balances out in the end though.
Right now the biggest accounts are still not worth much more than ~$500K if you multiply the amount of shares held by the share price.
If we're comparing this to NFTs at all then those amounts are still super small.
If we're comparing this to NFTs at all then those amounts are still super small.
So I do think there's potential in this platform surviving. Especially if the Airdrop gets hyped and keeps the ecosystem going for the next 6 months.
I'm just here to join the party and see how it goes.
As always, don't invest what you can't afford to lose.
I'm just here to join the party and see how it goes.
As always, don't invest what you can't afford to lose.
🔶 How to get on Friend Tech (Getting a Code & Bridging)
To join Friend Tech, you need a code. Luckily by now these are pretty easy to come by.
Just look around the comment section on any Friend Tech related Tweet and you should find some.
You get 3 when you first sign up.
To join Friend Tech, you need a code. Luckily by now these are pretty easy to come by.
Just look around the comment section on any Friend Tech related Tweet and you should find some.
You get 3 when you first sign up.
First off, go to , and add the website to your home screen.
You can register using various methods. After that you will be asked to link your Twitter/X account and fund your wallet. friend.tech
You can register using various methods. After that you will be asked to link your Twitter/X account and fund your wallet. friend.tech
Next up, you will need to fund your wallet to at least pay the fee to mint your own personal share.
To do this, you need to have $ETH on a wallet on Base Chain.
I'd recommend using a burner/new wallet for this as it's easy to track back your wallet to your twitter account.
To do this, you need to have $ETH on a wallet on Base Chain.
I'd recommend using a burner/new wallet for this as it's easy to track back your wallet to your twitter account.
1. Make a Metamask wallet
2. Get ETH on the wallet
3. Bridge the ETH over to Base chain. I used the official bridge by @BuildOnBase which you can see on their website.
2. Get ETH on the wallet
3. Bridge the ETH over to Base chain. I used the official bridge by @BuildOnBase which you can see on their website.
4. Add the Base chain RPC on Metamask ->
5. Wait for your ETH to arrive
6. Fund your Friend Tech wallet by the address provided on there.
You're good to go! 👍chainlist.org/chain/8453
5. Wait for your ETH to arrive
6. Fund your Friend Tech wallet by the address provided on there.
You're good to go! 👍chainlist.org/chain/8453
Now mint your own share and get exploring.
I hope this detailed thread has proven helpful for you in any way possible. I wish you a great day! 😄
I hope this detailed thread has proven helpful for you in any way possible. I wish you a great day! 😄
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