Social media platform Friend.Tech has announced that it has no plans to shut down its web app, addressing user concerns about recent changes to its smart contracts. The platform reassured its users that these changes will not affect current functionality or introduce new fees.

Friend.Tech’s Assurance to Users

On September 10, the platform’s developers confirmed in a post that the app will continue to operate as usual. They emphasized that there will be no impact on current operations or the introduction of new fees due to the changes made to its Base-based smart contracts.

We hear your questions about the platform. Here’s what you need to know: We have no plans to shutter or discontinue the web app. The actions below guarantee that no future changes can be made to smart contracts deployed on Base.

This statement followed concerns that arose on September 8, when developers transferred control of the platform’s smart contracts to Ethereum’s null address, effectively locking the system in place and preventing future updates.

Key Features of Friend.Tech

Launched in August 2023, Friend.Tech quickly attracted users by allowing them to purchase “keys.” These keys grant holders access to closed channels and exclusive content. After registering, users can start selling their shares to other participants or buying keys to accounts they are interested in.

Surge in User Activity

Initially, the platform experienced a surge in user activity, with daily earnings even surpassing Ethereum’s at one point. The model, which allowed users to trade keys to access private feeds, created a unique monetization avenue for influencers in the web3 space.

Decline and Reassurance

However, user activity has declined since its peak, and the platform has struggled to maintain momentum. Despite these challenges, Friend.Tech emphasized that while no new features will be introduced due to the contract changes, the platform will remain fully operational. This reassurance positively impacted the platform’s native token, which soared by 60%, reaching $0.097 following the statement.

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