DeFi & L1L2 Weekly - 🛑 Friend.tech is abandoned by its developer; EigenLayer reveals details of the 2nd EIGEN sta…
DeFi & L1L2 Weekly - 🛑 Friend.tech is abandoned by its developer; EigenLayer reveals details of the 2nd EIGEN stakedropFriend.tech is abandoned by its development team. EigenLayer reveals details of the second EIGEN stakedrop. Synthetix launches a new app chain for on-chain governance.Weekly DeFi IndexThe market capitalisation and volume indices were positive at +4.16% and +14.20%, respectively, while the volatility index dropped by -22.89%.
Chart of the WeekThe development team behind Friend.tech abandoned the control of the project by transferring ownership of its smart contracts to the Ethereum burn address, which effectively locks the platform in its current state. Following this announcement, the FRIEND token plummeted by 26.4%, reaching an all-time low. The platform, which gained popularity for allowing users to trade tokens for access to influencers, saw its daily activity and revenues drop dramatically. Despite previous attempts to revive interest through updates and airdrops, the platform’s trading activity never fully recovered, leading to the team's decision to relinquish control over the platform. News Highlights
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