Crypto’s latest decentralized social media (DeSo) app good friend.tech has been met with intense criticism over a call to punish customers who choose in to forks or copycat variations of its tokenized social media platform.
“To verify loyal customers are rewarded pretty throughout our beta, customers shifting to forks and copies will mechanically choose out of incomes Factors and forfeit current factors,” wrote the official good friend.tech X account in an Aug. 28 tweet.
We anticipate @friendtech clones and different varieties of copies will emerge.
To verify loyal customers are rewarded pretty throughout our beta, customers shifting to forks and copies will mechanically choose out of incomes Factors and forfeit current factors. They’ll have the ability to use the app usually pic.twitter.com/C1rTEQQr17
— good friend.tech (@friendtech) August 28, 2023
Whereas Good friend.tech didn’t make point out to any particular opponents, and variety of X customers within the reply pointed to a brand new DeSo or “SocialFi” software known as Shares which is scheduled to go stay to public beta on Aug. 31.
Shares #roadmap for the next week.
We’ll be sharing each day dev logs on Medium about updates. We began constructing the $SHARES platform’s backend a few weeks in the past, and began with our frontend this weekend – thus far, it has been an enormous progress! pic.twitter.com/oLEYMlhIcF
— shares.finance (@SharesFinance) August 21, 2023
Good friend.tech has been airdropping “reward factors” to its beta testers each week, which can complete a distribution of 100 million factors over 6 months.
The crew has not but shared what the factors might be finally used for, solely mentioning on Aug. 15 it “could have a particular function when the app enters official launch standing.”
We simply did our first Friday Factors Airdrop to 44k customers.
Some reminders:
– 100M factors might be distributed throughout the six month beta interval
– Airdrops occur on Fridays
– Factors are recorded off-chain
– Factors could have a particular function as soon as the beta interval ends— good friend.tech (@friendtech) August 18, 2023
Some anticipate it to translate to tokens to good friend.tech governance, whereas others imagine it might have some monetary significance for customers. Others believe that because of the seed spherical investment from Paradigm, there’ll doubtless be a good friend.tech native token airdrop sooner or later.
Good friend.tech’s announcement didn’t go down effectively with members of the crypto neighborhood.
Throughout the first hour of the announcement being posted — it attracted tons of of damaging feedback and reposts that derided the app for its anti-competitive transfer.
“Threatening / penalizing customers for trialing different platforms is totally in opposition to all the pieces this trade stands for,” wrote pseudonymous dealer CryptoKaleo in response to the announcement.
“It is a prime instance of how to not deal with competitors in Web3 lol — excited to learn the apology in a number of hours” said one other.
Associated: Good friend.tech denies report that database of over 100K customers was leaked
The announcement comes lower than three weeks after its public launch of Aug. 11. In the meantime, Good friend.tech has seen a drop in key metrics akin to exercise, inflows and quantity over the previous few days.
On the time of publication transactions on Good friend.tech have declined greater than 90% from its peak of practically 525,000 transactions on Aug. 21, with lower than 50,000 cumulative transactions on Aug. 28, in accordance with information from Dune Analytics.
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