The decentralized social networking platform Friend Tech might be planning a comeback through a V2 upgrade, as hinted by a leaked smart contract.

A crypto enthusiast, @Cbb0fe, has discovered a potential V2 smart contract from Friend Tech, a social tokenization platform built on the Base blockchain. While the details are not yet confirmed, the findings suggest a possible rebranding and revamp for the platform.

The Rumored V2 Features

According to the information shared, the new version of Friend Tech could include the following features:

1. Airdrop Token: POINTS

The POINTS token would initially be non-transferable, except to certain whitelisted addresses.

However, it can be traded on Friend Tech's native decentralized exchange, BunnySwap.

Clubs Feature

Users can create social clubs, bonding curves, or other platform-specific features.

A 1.5% platform fee and a 1.5% staking fee would apply to these Clubs.

Users would need to purchase "keys" with the POINTS token to access the Clubs.

1. Native DEX: BunnySwap

BunnySwap is described as a Uniswap V2 fork with a 1.5% fee.

2. Staking Contract: BestFriend SC

This is a MasterChef fork, allowing users to stake POINT/ETH LP tokens to earn more POINTS.

The Aftermath of the Friend Tech Data Leak

This potential revamp comes after a significant data breach that shook the platform's user trust. In August 2023, Friend Tech gained attention for amassing $1 million in fees on its first day of operation. However, this was followed by a data leak that exposed sensitive information of around 101,000 individuals, including their Base wallet addresses and Twitter identities.

The data breach led to concerns about the platform's pricing structures and revenue-generating tactics, tarnishing its reputation. Despite recording $50 million in Total Value Locked (TVL) in the months that followed, Friend Tech has yet to make a full comeback.

The Emergence of New Decentralized Social Networks

As Friend Tech navigates its potential rebirth, other decentralized social networks have emerged, such as the Lens Protocol. These new platforms may present additional competition as Friend Tech aims to regain its footing in the ecosystem.