{"id":37605,"date":"2024-02-05T07:55:59","date_gmt":"2024-02-05T07:55:59","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2024\/02\/05\/vitalik-buterin-calls-friend-tech-bad-defi-amid-its-fall-in-4-months\/"},"modified":"2024-02-05T07:55:59","modified_gmt":"2024-02-05T07:55:59","slug":"vitalik-buterin-calls-friend-tech-bad-defi-amid-its-fall-in-4-months","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2024\/02\/05\/vitalik-buterin-calls-friend-tech-bad-defi-amid-its-fall-in-4-months\/","title":{"rendered":"Vitalik Buterin Calls Friend.Tech Bad DeFi Amid Its Fall In 4 Months"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>Decentralized social media platform <a href=\"https:\/\/coingape.com\/education\/what-is-friend-tech\/\" target=\"_blank\" rel=\"noopener\">Freind.Tech<\/a>, constructed atop Coinbase\u2019s Layer-2 platform \u2018Base\u2019 is witnessing a significant slowdown inside simply 4 months of making a significant market frenzy. However, inside 4 months of launch, the craze round this social media platform has been waning away fairly quick.<\/p>\n<h3>Vitalik Buterin Refers to Friend.Tech As Bad DeFi<\/h3>\n<p>In a current commentary, Haseeb, the founding father of Dragonfly, expressed astonishment on the fast transformation of Friend.tech from a crypto darling to a abandoned mission in simply 4 months. The prevailing sentiment means that Friend.tech\u2019s bonding curve performed a pivotal function in its downfall, prompting a broader reflection on the teachings discovered and the next redesign of bonding curves within the crypto area.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<figure id=\"attachment_178537\" aria-describedby=\"caption-attachment-178537\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-178537\" alt=\"\" width=\"1280\" height=\"618\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech-.jpeg 1280w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech--300x145.jpeg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech--1224x591.jpeg 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech--768x371.jpeg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech--150x72.jpeg 150w\" data-lazy-sizes=\"(max-width: 1280px) 100vw, 1280px\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech-.jpeg\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-178537\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech-.jpeg\" alt=\"\" width=\"1280\" height=\"618\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech-.jpeg 1280w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech--300x145.jpeg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech--1224x591.jpeg 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech--768x371.jpeg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Friend.Tech--150x72.jpeg 150w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\"\/><\/noscript><figcaption id=\"caption-attachment-178537\" class=\"wp-caption-text\">Courtesy: <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/hosseeb\/status\/1753949056479776771\/photo\/1\" target=\"_blank\">Haseeb<\/a><\/figcaption><\/figure>\n<p>Responding to this remark, Ethereum co-founder Vitalik Buterin weighed in on the dialogue, stating, \u201cBad gamefi is using financial speculation as a substitute for fun. Blockchain games need to be fun as games,\u201d in an approximation of a sentiment he has shared a number of occasions.<\/p>\n<p>During the height of the craze round Freind.Tech, the platform clocked greater than <a href=\"https:\/\/coingape.com\/riend-tech-surpasses-50m-tvl\/\" target=\"_blank\" rel=\"noopener\">$50 million<\/a> in whole worth locked. However, as per the DeFiLlama <a rel=\"nofollow noopener\" href=\"https:\/\/defillama.com\/protocol\/friend.tech\" target=\"_blank\">data<\/a>, the TVL has been on a downfall since then and dropped by 50% within the final 4 months to $26.46 million as of date.<\/p>\n<h3>Buterin Remains Bullish on Farcaster And Lens<\/h3>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>While Vitalik Buterin doesn\u2019t maintain a lot bullish views about the way forward for crypto social, he stays <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1754363691485839819\" target=\"_blank\">confident<\/a> about some decentralized social apps like Farcaster and WRT Lens.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>Farcaster is a decentralized social app protocol that empowers customers to manage their knowledge, whereas additionally offering builders with the power to construct apps on the community in a permissionless method. Interestingly, Buterin\u2019s feedback come because the Farcaster protocol registers 400% of the each day energetic customers following the introduction of \u201cframes\u201d on its social media utility Warpcast.<\/p>\n<p>Frames on Warpcast now allow customers to mint NFTs, carry out transactions, declare tokens, learn exterior weblog posts, and take part in surveys\u2014all inside the app itself, eliminating the necessity to signal a transaction or navigate away. This addition was applied on Jan. 27.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>Also, the Farcaster community skilled important progress in each day energetic customers, escalating from round 5,000 on Jan. 28 to surpassing 24,700 by Feb. 3, primarily based on <a rel=\"nofollow noopener\" href=\"https:\/\/dune.com\/pixelhack\/farcaster\" target=\"_blank\">data<\/a> from Dune Analytics. Moreover, the quantity of recent each day \u201ccasts\u201d skyrocketed to over 2 million as of Feb. 3, marking a rare 1,000% surge from the roughly 200,000 recorded the earlier week on Jan. 28.<\/p>\n<figure id=\"attachment_178535\" aria-describedby=\"caption-attachment-178535\" style=\"width: 928px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-178535\" alt=\"\" width=\"928\" height=\"334\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users.webp 928w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users-300x108.webp 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users-768x276.webp 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users-150x54.webp 150w\" data-lazy-sizes=\"(max-width: 928px) 100vw, 928px\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users.webp\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-178535\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users.webp\" alt=\"\" width=\"928\" height=\"334\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users.webp 928w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users-300x108.webp 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users-768x276.webp 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Farcaster-Daily-Active-Users-150x54.webp 150w\" sizes=\"auto, (max-width: 928px) 100vw, 928px\"\/><\/noscript><figcaption id=\"caption-attachment-178535\" class=\"wp-caption-text\">Courtesy: Dune Analytics<\/figcaption><\/figure>\n<p>Similar to Farcaster, Lens is a decentralized composable social graph, empowering builders to create the subsequent era of social media purposes.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/vitalik-buterin-calls-friend-tech-bad-defi-amid-its-fall-in-4-months\/\" target=\"_blank\" style=\"display: block\" rel=\"noopener\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/vitalik-buterin-calls-friend-tech-bad-defi-amid-its-fall-in-4-months\/\" target=\"_blank\" rel=\"noopener\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; 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In free time he reads thriller fictions novels and typically discover his culinary expertise.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD178518\">\n<p>  The introduced content material might embody the non-public opinion of the writer and is topic to market situation. 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The writer or the publication doesn&#8217;t maintain any duty to your private monetary loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a href=\"https:\/\/coingape.com\/web-stories\/localbitcoins-guide-how-to-withdraw-easily\/?utm_source=post&utm_medium=web-story\" target=\"_blank\" rel=\"noopener\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" 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https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/cropped-Altcoins-Today-1-225x300.png 225w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/cropped-Altcoins-Today-1-150x200.png 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">7 Easy Steps to Gain Crypto Profit Without Ownership <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/vitalik-buterin-calls-friend-tech-bad-defi-amid-its-fall-in-4-months\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Decentralized social media platform Freind.Tech, constructed atop Coinbase\u2019s Layer-2 platform \u2018Base\u2019 is witnessing a significant slowdown inside simply 4 months of making a significant market frenzy. However, inside 4 months of launch, the craze round this social media platform has been waning away fairly quick. Vitalik Buterin Refers to Friend.Tech As Bad DeFi In [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[7],"tags":[931,221,611,202,1835,7973,1294,220],"class_list":["post-37605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-bad","tag-buterin","tag-calls","tag-defi","tag-fall","tag-friendtech","tag-months","tag-vitalik","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/37605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=37605"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/37605\/revisions"}],"predecessor-version":[{"id":37606,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/37605\/revisions\/37606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/37607"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=37605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=37605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\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