Friendzone Brings Social Monetization Protocol Reside On Polygon PoS For Over 5,000 Waitlisted Customers

Highway City, British Virgin Islands, February twenty seventh, 2024, Chainwire

Friendzone, the sustainable and scalable Web3 platform redefining Social Finance (SocialFi) on the blockchain, has formally launched on the Polygon Proof-of-Stake community. The launch of the Social Capital Market is the primary of many key milestones for Friendzone in its mission to change into the quantity #1 social media dApp within the Web3 {industry}. 

Friendzone is a wholly novel decentralized protocol that marries the engagement of conventional social media with the distinctive monetary rewards enabled by Web3 expertise, paving the best way for the creation of extra empowering on-line communities. On this method, Friendzone is far more than simply one other SocialFi platform. It represents a paradigm shift that not solely acknowledges social media presence and affect, however rewards it in tangible and monetizable methods. It guarantees to redefine the social media {industry} as a spot the place each interplay can doubtlessly generate worth, empowering content material creators and customers alike to monetize their on-line experiences in a seamless method. 

The launch on Polygon PoS coincides with the closure of a big funding spherical led by angel traders together with Kain Warwick (Founding father of Synthetix), Kieran Warwick (Founding father of Illuvium), Danny Wilson (CFO of Illuvium), Thomas Aslanian (Product & Token Lead of Immutable), Anton Buenavista (Founding Crew Pendle Finance), Jackson Chan (Co-Founding father of PHD Capital) and plenty of different unbelievable angels with expertise at Synthetix, Pendle Finance, Bybit, Metastreet Labs and Renzo Protocol. Alongside the spherical, which brings Friendzone’s whole quantity raised to greater than $750,000 USD, the startup is happy to welcome the aforementioned traders, plus TN Lee (Co-Founding father of Pendle Finance) and John Park (Accomplice at Sparklabs) to its rising advisory board. 

Lifting SocialFi To The Subsequent Degree

Though Friendzone is competing in an more and more crowded SocialFi house, its platform is differentiated from others by means of its nuanced incentive and protocol design. Friendzone is uniquely centered on overcoming the scalability and liquidity challenges which have hampered the expansion of first-generation SocialFi platforms, setting it as much as change into the primary protocol of its variety to go mainstream. 

Friendzone has designed its protocol economics round an adaptive bonding curve that takes into consideration market suggestions in real-time, guaranteeing that its token valuation is at all times truthful, with steady entry for each small and enormous networks. Via this mechanism, it promotes sustained engagement and community progress with out being constrained by the accessibility and liquidity bottlenecks which have held again different SocialFi protocols. 

With its customized creator controls, Friendzone empowers everybody to be a creator with the power to customise their social media exercise and create tailor-made choices starting from public occasions to personal teams, the place they’ll set phrases and costs that higher mirror the worth they supply. In addition to the acquisition and sale of its “Creator Chips”, Friendzone incorporates a staking characteristic into its tokenomics mannequin that takes into consideration each the amount and period of the person’s stake. It’s impressed by Curve’s veCRV mannequin and goals to make sure a extra equitable distribution of every creator’s income, incentivizing community customers to actively contribute to the success of each creator with a share of their rewards. 

Via these novel improvements, Friendzone guarantees to transcend the emotional incentives of conventional social media networks by integrating highly effective monetary incentives enabled solely with crypto, amplifying its community results to reinforce person engagement and pretty reward participation on the platform and all built-in decentralized purposes present as we speak. 

A Progressive Rollout

Friendzone has generated huge curiosity previous to its launch on Polygon PoS, with greater than 5,000 whitelisted customers signed up. To make sure stability throughout its incentivized beta rollout, the protocol is capping the variety of customers allowed onto the community in batches of 1000. The plan is to progressively onboard extra customers because the challenge demonstrates its price and evolves from its beta stage, the place will probably be intently monitored for bugs and refined to supply an optimum person expertise. 

The preliminary 1000 customers chosen to take part at launch can now head to X, previously generally known as Twitter, to assert their Friendzone handles, which would be the identical as their X handles.

Through the preliminary launch interval, Friendzone can even combine a brand new factors system into its protocol, enabling early adopters who beta check the product to start accumulating factors to reinforce their rewards and reputations on the platform. 

“We’re immensely proud to launch Friendzone with the assist of the Polygon ecosystem, a collaboration that marks a big milestone in our journey. The Polygon PoS Community’s distinctive scalability, velocity, and safety provide the right basis for Friendzone, enabling us to redefine social media engagement and monetization within the Web3 house. The dedication to innovation and the success of tasks constructed on Polygon PoS is unparalleled. This strategic relationship is a testomony to our shared imaginative and prescient of empowering customers and creators in a disruptive decentralized digital financial system.” stated Kevin Lu, CEO & Co-Founding father of Friendzone.

Friendzone is delighted to carry its collaboration with the Polygon ecosystem to the following stage, tapping into its highly effective ecosystem and leverage its experience to discover new use circumstances and speed up innovation within the SocialFi house. Friendzone is poised to unleash new dynamics and discover uncharted waters on Polygon PoS because it seeks to carry extra worth to customers within the nascent decentralized social media {industry}. 

The Polygon ecosystem has already distinguished itself within the blockchain enviornment with its sturdy ethos of innovation and a litany of unparalleled strategic model collaborations, making it a really perfect touchdown spots for Friendzone. The protocol’s integration with the Polygon community permits it to make future plans towards tapping into an revolutionary zkEVM-based Layer-2 structure that will probably be instrumental in accelerating its progress because it scales its community and expands its person base. The Polygon networks are residence to a few of the most dynamic and numerous ecosystems of groundbreaking dApps and communities within the blockchain world, offering additional alternatives to collaborate, innovate and convey SocialFi into the mainstream. 

“Friendzone represents the primary of its variety within the SocialFi house, pioneering a brand new period of social media that rewards engagement with actual worth. We’re proud to have Friendzone construct on Polygon PoS and to work intently with their staff to attain our mutual objectives. Their revolutionary strategy to integrating social interactions with worth incentives units a brand new customary within the {industry}. This collaboration underscores Polygon’s dedication to supporting groundbreaking tasks that push the boundaries of what’s doable in Web3 and past.” stated SungMo Park, Head of BD APAC at Polygon Labs.

Right now’s launch and funding spherical represents the primary of many milestones to come back for Friendzone, laying the groundwork for a really interoperable protocol that can present a scalable basis to assist the monetization layer of on-chain social graphs. 

About Friendzone

Friendzone is the premier social Web3 platform introducing real-time adaptive pricing and native reward distribution to make sure truthful and dynamic worth change, tailor-made to a creator’s popularity and neighborhood assist. The platform is the primary to incentivize sustained engagement and provides creators in depth management over content material monetization, selling a sturdy and inclusive digital round financial system at scale. Friendzone is supported by a devoted staff of core contributors and advisors from industry-leading entities similar to Synthetix, Band Protocol, Koinly, Immutable, Pendle Finance, Cyball, and Sparklabs.

Be a part of the brand new social Web3 period at friendzone.professional and keep updated with all of the bulletins on Twitter and Discord. 

Contact

Dasi Kaplan
[email protected]