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Decentralized social community Good friend.tech, skilled a precipitous decline in transaction quantity, day by day new customers, and price revenue in lower than three weeks since its launch.
Critics and customers on X (previously Twitter) have declared the platform “lifeless”.
After hitting a peak of 20,360 day by day new customers on August 21, the platform noticed the rely plummet to a meager 1,811 on August 27. In accordance with Dune Analytics, a knowledge analytics service, the undertaking’s metrics point out a major loss in reputation.
The charges generated by Good friend.tech additionally dropped from a peak of $1.7 million on August 21 to $95,400 on August 27, suggesting a substantial decline within the platform’s funds.
Friendtech consumers and sellers tanking to 0
GG Friendtech? pic.twitter.com/jmXKu41KDd
— Boxmining (@boxmining) August 28, 2023
BASE is not a competitor to the large L2
Good friend.tech’s decline has put BASE in a decent spot towards Layer 2 rivals Arbitrum and Optimism. As of August 25, Arbitrum led the pack with 122,110 transacting addresses per day, adopted by BASE and Optimism.
Good friend.tech’s metrics dropped sharply, hinting at decline of its speculative hype.
Whereas Good friend.tech struggles to achieve customers, Arbitrum widens its lead over BASE, casting doubt on the app’s restoration.
RIP Friendtech
August 2023-August 2023💀 pic.twitter.com/Fb0bh23Fyo
— Beanie (@beaniemaxi) August 26, 2023
Good friend.tech’s precipitous decline exposes the fleeting nature of its preliminary success, casting a shadow on its foundational stability. As Arbitrum and Optimism proceed to outperform BASE, the prospects for the app seem more and more grim.
With hypothesis waning as quickly because it soared, Good friend.tech and BASE are at a crucial juncture. They now face a necessity for vital technique overhaul to reclaim their fading prominence.
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