Friend.tech’s plan to develop its own blockchain leaves users confused.

Friend.tech, a decentralized social media platform built on top of the Coinbase layer 2 network Base, has announced plans to develop its own blockchain, Friendchain, but its decision to do so has many users asking “Why?”

Cryptocurrency trader Dr. George Pub responded to Friend.tech’s June 8 announcement about “What is the value proposition of a social-centric chain?” he answered, explaining that he would work with cryptocurrency infrastructure. Launch Conduit to launch your own blockchain. Friend.tech added that its token, Friend (FRIEND), will be used as a “fully transferable gas token.”

“Why do you need blockchain?” added anonymous cryptocurrency commentator ox0, while Pop Punk, co-founder of gas auditing firm Gaslite, asked “Why?”

Meanwhile, others have expressed concerns that gas fees will be higher compared to Base, also called a “low-cost” Ethereum (ETH) layer 2 solution.

However, the announcement piqued the interest of traders, with Friend’s price soaring shortly thereafter.

After the announcement, Friend’s price soared.

Friend rose 64% within 20 minutes of the announcement, reaching $1.31, before quickly falling to $0.89 within an hour, according to CoinMarketCap data.

The big move in Friend’s price comes just a month after riend.tech launched the token with a large airdrop.

Just hours after the Friend.tech airdrop went live on May 3, the largest whale known as “Murphys1d” sold over 55,000 of the newly minted Friend tokens.

Related: Friend.tech revenue surges over 10,000 ETH and TVL surpasses 30,000 ETH.

On the same day, trading at Friend.tech, which had been largely stagnant since its strong launch in August 2023, hit an all-time high.

Just a week after Friend.tech launched, its fees surpassed $1 million in 24 hours on August 19, surpassing Uniswap and the Bitcoin network.

Cointelegraph reached out to Friend.tech for comment but did not receive a response by the time of publication.

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