Social media platform Pal.Tech says it has no plans to close down its internet app, reassuring customers that sensible contract adjustments won’t influence present performance or charges.
Web3 social media platform Friend.Tech has reassured customers that it has no plans to discontinue its internet app, following issues that current adjustments to its sensible contracts would possibly sign a shutdown.
In a Sept. 10 post on X, the platform’s builders confirmed that the app will proceed to operate as regular and that there will probably be no influence on present operations or the introduction of latest charges as a result of adjustments made to its Base-based sensible contracts.
The assertion comes after Pal.Tech appeared to be successfully shuttered on Sept. 8, when builders transferred management of the platform’s sensible contracts to Ethereum‘s null handle, principally locking the system in place, stopping future updates to the platform.
Launched in August 2023, Pal.Tech shortly gained traction by permitting customers to buy “keys.” Their holders get entry to closed channels and unique content material. After registration, platform customers can begin promoting their shares to different contributors or shopping for “keys” to the accounts they’re involved in.
The platform skilled a surge in person exercise early on, with every day earnings even surpassing Ethereum’s at one level. The mannequin, which allowed customers to commerce keys to entry personal feeds, created a singular monetization avenue for influencers within the web3 house.
Nevertheless, person exercise has declined since its peak, and the platform has struggled to take care of momentum. Regardless of these challenges, Pal.Tech emphasised that whereas no new options will probably be launched as a result of contract adjustments, the platform will stay absolutely operational. The reassurance has positively impacted the platform’s native token, (FRIEND), which soared by 60%, reaching $0.097 following the assertion.
