Nikolas Sargeant
Friendzone, the sustainable and scalable Social Finance (SocialFi) application, announced on Tuesday, December 12, that it has launched its "Friend Farming" campaign to prepare the community for its protocol launch.
In a press release shared with Cryptowisser, the team said the Friendzone protocol will offer innovative ways to reward social presence and engagement in Web3.
The Friendzone Friend Farming campaign seeks to leverage the power of community by rewarding users who contribute to the platform's growth through early involvement.
Participants can earn Airdrop Points by inviting friends, creating friendship groups, and gaining early access to the platform. The points will grant users future rewards and tokens, incentivizing users to build and bootstrap a robust social network. Friendzone's approach not only fosters a collaborative atmosphere but also rewards the very act of community building.
Friendzone is a protocol built by a team of contributors and advisors from Synthetix, Band Protocol, Koinly, Immutable, Pendle Finance and Sparklabs. The protocol is launching a new model for a sustainable and scalable social capital marketplace with native reward sharing, kicking off a paradigm shift for SocialFi by introducing a series of fresh concepts, including an in-app monetization framework, a circular economy, custom creator controls, and economic and social staking incentives.
Its adaptive bonding curve is a first for any SocialFi app and involves dynamic pricing and staking mechanisms that respond to market conditions in real-time.
The protocol will be powered by Creator Chips, the native currency of creator networks on Friendzone. The token incorporates a reputation factor with its responsive pricing mechanism that adjusts the value of Chips in real time as the creator’s reputation and a user's overall network ownership move according to supply and demand.
Keeping the valuation fair and accessible by large and small networks ensures that the platform prevents price manipulation and negative network effects while promoting equitable economic dynamics. The protocol’s unique mechanism encourages sustained engagement and network growth without the liquidity bottlenecks experienced by other platforms. Furthermore, Friendzone’s staking incentivizes supporters based on the amount and duration of their stake, aligning interests with the creators they support and fostering a community-driven growth model.
The SocialFi app promotes an equitable distribution of a creator's revenue, incentivizing a two-way contribution between the creator and their social network.
Creators on the network can take advantage of the custom access controls provided by Friendzone to tailor their offerings, including access levels, content types, and pricing. From private groups to public events, FZE creators can set their terms and prices that reflect the unique value provided.
While commenting on this latest development, Kevin Lu, Friendzone Co-Founder and CEO, said,
“Friendzone is more than a platform. It is a paradigm shift in how social applications should be built starting at the root of any great Web3 project - protocol design and incentive mechanisms - which secure the platform’s integrity and also drive user engagement and retention, essential for long-term success.
Friendzone is poised to redefine and set the industry standard of the SocialFi landscape, offering a space where every interaction has the potential to generate value, empowering users and creators alike to monetize their digital interactions seamlessly without the limitations of existing applications that are rudimentary in nature.”
Friendzone is the premier social Web3 platform introducing real-time adaptive pricing and native reward distribution to ensure fair and dynamic value exchange, tailored to a creator's reputation and community support. The platform is the first to incentivize sustained engagement and offers creators extensive control over content monetization, promoting a robust and inclusive digital circular economy at scale.
