Buddy.tech, a decentralized social media platform constructed at the Base blockchain, has sparked controversy by way of saying punitive measures towards customers who transfer to forked or copycat variations of the app.
The legitimate Buddy.tech X account tweeted ultimate week that customers migrating to imitation platforms would forfeit any praise issues they’d gathered. The arguable tweet has since been deleted.
TL;DR:
- Buddy.tech, a decentralized social media platform on Base blockchain, penalizes customers choosing forked or copycat variations.
- Disqualified customers lose “praise issues,” accrued all over beta checking out, triggering speculations about their goal.
- Monetary demanding situations coincide with plummeting revenues and lively customers, whilst OnlyFans inflow and Paradigm funding be offering hope.
Decentralized Social Media: Long gone Improper!?
Buddy.tech has been airdropping praise issues to beta testers weekly, with plans to distribute 100 million issues over six months. Alternatively, the workforce has no longer clarified the application of those issues, merely declaring they “can have a different goal” at release.
Hypothesis suggests the issues could also be transformed into governance tokens when Buddy.tech formally launches. Others imagine there might be monetary advantages for customers retaining huge quantities of issues.
The announcement comes as Buddy.tech faces monetary difficulties. Consistent with DeFiLlama, the app’s day-to-day revenues plummeted over 85% in a single week, from a top of $840,000 on August 21 to simply $112,400 on August 28.
Crypto.information reported Buddy.tech’s day-to-day transaction quantity has noticed a 95% decline in the similar length, from an all-time top of $16.88 million to $883,000.
Energetic customers in keeping with hour additionally considerably dropped from over 4,700 to lower than 600. This ended in Buddy.tech falling out of the highest ten dApps by way of day-to-day earnings. That is after prior to now surpassing leaders like Lido and Uniswap.
New person enlargement has additionally slowed in spite of a up to date surge. Alternatively, Buddy.tech did see an inflow of OnlyFans accounts, elevating optimism about attracting a much wider target audience.
Moreover, Paradigm’s fresh seed funding in Buddy.tech has fueled hypothesis of a possible local token airdrop.
In spite of monetary struggles, Buddy.tech stays dedicated to enlargement, as evidenced by way of strict measures to forestall customers flocking to copycat platforms. The app’s talent to draw new audiences and ship price to early adopters will resolve if it will probably jump again.
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