Pal.tech, a decentralized social media platform, has partnered with crypto infrastructure agency Conduit to develop its personal blockchain, named Friendchain.
Following the announcement on June 9, the platform’s native token, FRIEND, skilled a short lived worth surge, however is down virtually 5% within the final 24 hours, based on CoinGecko information.
Pal.tech shall be departing Coinbase’s Etheruem layer-2 Base, doubtlessly altering the platform’s price construction and person interactions.
Pal.tech’s determination to determine its personal blockchain follows a interval of stagnating transactions since its robust launch in August 2023.
The platform recorded a peak in transactions on the day of the announcement, which additionally coincided with a major sell-off of Pal tokens by a person shortly after a serious airdrop.
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