{"id":583833,"date":"2023-08-29T05:04:13","date_gmt":"2023-08-29T04:04:13","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=583833"},"modified":"2023-08-29T05:04:37","modified_gmt":"2023-08-29T04:04:37","slug":"friend-tech-reverses-reward-point-policy","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/friend-tech-reverses-reward-point-policy\/","title":{"rendered":"Friend.tech Reverses Policy To Punish Users Who Use Rival SocialFi Projects"},"content":{"rendered":"\n<ul><li>Friend.tech plans to reward users who stay loyal and refrain from joining its forks or clones.&nbsp;<\/li><li>The SocialFi project will automatically forfeit the points of users who choose to opt into its forked versions.&nbsp;<\/li><li>The points are expected to have a special purpose on the tokenized social media platform.&nbsp;<\/li><li>Friend.tech\u2019s users expressed disappointment at the project\u2019s decision to punish users by forfeiting points.&nbsp;<\/li><\/ul>\n\n\n\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/friend-tech-mev-bots-2-million-profit-key\/\">Friend.tech<\/a>, the decentralized social media platform that has taken the web3 space by storm, announced a controversial policy earlier today, in light of copycat applications and forks. The SocialFi project stated that it would punish users who opt-in to rival SocialFi projects by disabling the reward point accumulation feature for them.\u00a0However, the founder of the project reversed the controversial policy less than twelve hours after unveiling it. <\/p>\n\n\n\n<h2><strong>Friend.tech To Forfeit Points Of Users Who Move To Clones<\/strong><\/h2>\n\n\n\n<p>According to an <a href=\"https:\/\/twitter.com\/friendtech\/status\/1696280326027558994\" rel=\"nofollow noopener\">announcement<\/a> on X (formerly Twitter) earlier today, friend.tech stated that it would punish users who move to \u201cforks and copies\u201d by forfeiting their existing reward points and having them automatically opt out of earning any reward points in the future.\u00a0<\/p>\n\n\n\n<p>Users who choose to venture onto rival SociaFi projects would still be able to use friend.tech, the tokenized social media platform clarified. The platform added that its latest reward point policy was in order to make sure that loyal users were rewarded fairly during its Beta stage.\u00a0<\/p>\n\n\n\n<p>Friend.tech users took issue with its latest policy, with many expressing their disappointment and frustration. The majority of the crypto community agreed that users should be free to explore other projects without risking the rewards accumulated from their activities and contributions so far.\u00a0<\/p>\n\n\n\n<p>Friend.tech&#8217;s pseudonymous  developer, Racer, reversed the controversial reward point policy within hours of announcing it, following backlash from users and the broader crypto community. The developer apologized to the users, and urged them to explore other products. <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>I&#8217;ve been operating from fear&#8230;..That fear made me act with a mindset that is zero sum when i told you not to use other products&#8230;.. Please live your life as you want.&#8221;<\/p><cite>Racer, friend.tech developer<\/cite><\/blockquote>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"zxx\" dir=\"ltr\"><a href=\"https:\/\/t.co\/IZtkRveuH6\" rel=\"nofollow\">pic.twitter.com\/IZtkRveuH6<\/a><\/p>&mdash; friend.tech (@friendtech) <a href=\"https:\/\/twitter.com\/friendtech\/status\/1696360491046854782?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 29, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>It is unclear as of now how users will be able to use the reward points in question, but the SocialFi project previously stated that they will have a \u201cspecial purpose\u201d once the six-month beta period ends. Friend.tech plans to distribute 100 million reward points throughout the Beta period, with airdrops every Friday. Airdrops consider user activity until Thursday 23:59, following which the points are rewarded and recorded off-chain.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Friend.tech has reversed a controversial policy that sought to punish users who use rival SocialFi projects by forfeiting their reward points. <\/p>\n","protected":false},"author":62,"featured_media":583835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,108120,2],"tags":[109057,1332,109067,108181,1212],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583833"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=583833"}],"version-history":[{"count":3,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583833\/revisions"}],"predecessor-version":[{"id":583838,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583833\/revisions\/583838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/583835"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=583833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=583833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=583833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}