Friend.tech's emergence as a concern stemmed from the perception that its monetization strategy posed a potential risk of drawing unwanted regulatory scrutiny. The decision to migrate from the Layer 2 (L2) blockchain Base, in partnership with Conduit, elicited a varied response within its community. Following the announcement, the value of the protocol's native token, FRIEND, plummeted by 22%, ultimately settling at $0.6862, marking a steep 22.95% decline within a mere 24-hour period.

Initially lauded for its innovative approach to social interaction and monetization on the Base platform, Friend.tech's pivot towards exploring alternative blockchain solutions triggered skepticism among its stakeholders. In a bid to seek alternatives, the protocol initiated a $200,000 bounty program, enticing innovators to devise viable solutions. Moreover, Friend.tech solidified its commitment to this transition by forging a strategic alliance with Conduit to develop a novel blockchain ecosystem, aptly named Friendchain.

Nevertheless, this strategic shift has not been without its critics. A subset of community members voiced reservations regarding the necessity and timing of migrating to a new blockchain infrastructure. Notable figures within the community, such as The Giver and Dr. Kojipup, questioned the value proposition of a social-focused blockchain and expressed skepticism towards the overarching rationale behind such a move. Similarly, other commentators, including ox0 and Pop Punk, challenged the fundamental need for Friend.tech to integrate blockchain technology into its framework.

The palpable discord within the community was further accentuated by the precipitous decline in the token's valuation, reflecting the collective apprehension and dissent among stakeholders. At its zenith, the FRIEND token briefly surged to $1.29, only to plummet swiftly, underscoring the prevailing discontent. As of the latest evaluation, FRIEND finds itself trading at a staggering 60% below its May valuation, with its current price teetering just 1.8% above its historical nadir recorded on Friday.