CandleFocus

End of an era: The Friend.Tech team relinquished smart contract management

Author: Content Editor
Friend.Tech developers have announced that they are giving up managing smart contracts and transferring control to a zero address on the Ethereum network. This decision has raised questions about the future development of the project and makes the implementation of new functions unlikely. The transfer of control over smart contracts has led to a collapse of the project's native token, FRIEND, which has fallen by more than 39%. The project has faced declining user activity and trading volumes, and the number of active users, funds, and collected commissions have decreased significantly. Despite the changes, the Friend.Tech web client will continue to function as is. Some community members had previously criticized the platform, highlighting issues with pricing, a non-working group chat, and possible fraud. Ethos founder Serpin Taxt believes that the latest changes mark the end of the platform.

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