Post by @dankshard • Hey
Friendtech points are being traded (or speculated) for $ 7/each on hyperliquid. It seems people are bullish on V2 and token airdrop. Got around 400 points
Comments
- https://app.hyperliquid.xyz/trade/FRIEND
here's the website if you wanna long/short the shit out of this stuff before launch 😆
- You're likely correct.
One thing I have learned in crypto is that speculation is more valuable than utility.
Specualtion can be worth infinite but as soon as it turns into measurable utility it is only worth exactly what it's worth.
- Friend tech damnnn
- Faded everything about friend.tech. another one to add to list of fades.
- 🤔never looked on Friendtech, but this is an interesting market mechanism.
I suppose the competition in the on-chain social space drives all 3 apps higher.
- $ 7 would mean so many are going to be millionaires
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- I don't even check the token price before it's on the hand of its users
- I have some points, but I dont’r think it could be that high.
Really weird, but hope I’m wrong
- So there were originally 100m airdrop points. BLUR had 1b tokens and was a paradigm raise. So the folks on FT memed $ 1 per point very early on. This broke out as follows: 10% to community, 1b tokens, $ 1b valuation = $ 1 per pt.
Racer and paradigm have now announced it's going to be 100% community owned. They haven't released tokenomics but the FT community is figuring ok, same $ 1b valuation but instead of 1b tokens, now it's just the 100m. Hence, $ 10 per pt.
Cobie had over a million points in the first few weeks. So at $ 10 per pt, FT will print him 8 figures. It's already high 7s for him.
Personally, I think they force some of the higher points holders into 3,6, and 12mo vesting, and that they will stagger the points release alongside updates. But nothing's been released yet so it's all speculation (what we do best in crypto right?)