
Friend Tech has announced a significant move in the cryptocurrency space by allocating 100% of its on-chain points to the community, a decision that has sparked considerable interest and speculation. This move, led by Paradigm, has been described as the onset of 'FriendTech Spring,' with expectations that it could lead to higher than anticipated valuations for FriendTech points. The points, now trading over $4, have seen a thin market with the lowest ask reaching $4.99 per point on Whales. Some community members, like CryptoWendyO, have even offered their points for sale at $1M each, highlighting the speculative fervor surrounding this development. The distribution of VC points to the community and the shift towards SocialFi exposure, forcing funds and VCs to buy on secondary markets, have been identified as potential catalysts for a paradigm shift in tokenomics, favoring community allocation over traditional venture capital involvement.
I think VCs giving up friendtech allocations in favour of 100% community allocation augurs in a paradigm shift toward superior tokenomics Equity layer can extract trading fees, while tokens float unencumbered by vesting schedules and bearish unlocks
i’m bullish friendtech points, mostly because i have a decent amount but something that hasn’t been addressed was the blatant point farming and bottling used to game the system will these points be redistributed? are accounts subject to review?
These have been the @friendtech points sales (100% filled) in the last 24 hours or so on @WhalesMarket 🔥 https://t.co/Yy9UE5AHr7 https://t.co/u0SjUXGemO
