The co-founder of friend.tech hinted at leaving Base, causing FRIEND to drop over 32% in 24 hours

ChainCatcher news, according to The Block, after the co-founder of the Web3 social network friend.tech (pseudonym Racer) posted hints about the intention to migrate the protocol out of Base, the protocol's native token FRIEND saw a significant drop. According to CoinGecko data, FRIEND is currently priced at $1.01, with a 24H decline of 32.2%.

Racer wrote on X: "System design bounty: If you can find a way to migrate friend.tech out of Base without causing significant issues for users, and it runs well enough, we will decide to use it and pay you $200,000."

In another post, Racer explained that the relationship between the friend.tech team and Base has been unstable, "Farcaster's investors went crazy smearing us when we launched because they misunderstood what we were doing. They put a lot of pressure on the team and users, and since then, our relationship has been on a downward spiral, and we have been ostracized by the 'Base community'." It is worth noting that at some point on Sunday, Racer's posts became inaccessible; it is currently unclear whether they deleted their account after the posts were made.

In response, Jesse Pollak, head of Coinbase's Base, acknowledged that the friend.tech team feels "isolated and disconnected" from certain parts of Base and the Ethereum ecosystem. Pollak wrote: "If the team decides to leave Base, I would be disappointed, but I would also respect and support any path they choose—that's the beauty of decentralization and on-chain economy."