FriendTech Unfriends Base

Alpha Team
May 27, 2024

💥 Friendtech Token Drops Sharply

Racer Plans to Leave Base: The native token for Friendtech fell sharply after co-founder Racer expressed a desire to leave Base, Coinbase's Ethereum Layer-2 network. Racer offered a $200K bounty to anyone who can help migrate the platform without major issues.

Rocky Relationship with Base: Racer described a strained relationship with Base, stating that misunderstandings led to their team being ostracized. Issues began when Farcaster investors criticized Friendtech's launch. Racer's posts about the situation were sometimes inaccessible.

Support from Coinbase's Jesse Pollak: Jesse Pollak, head of Base for Coinbase, acknowledged Friendtech's feelings of isolation. He expressed sadness if they leave but supported their decision. Pollak emphasized the decentralized nature of the onchain economy and its flexibility. Read More.

️ On today's Top Picks:

🔜 Ethereum Developers target Q1 2025 for Pectra Upgrade.
🚀 Taiko launches Mainnet.
🤝 Argentina & El Salvador discuss Bitcoin adoption.
💸 xAI raises $6B in Series B funding.

Read time: ⏰ 5 minutes

Crypto News

• ⭐️ FriendTech $FRIEND co-founder hints at leaving Base.

• ⭐️ Ethereum Core Developers target Pectra Upgrade for Q1 2025.

• Phantom becomes #1 Finance App on the Google Play Store.

• US Presidential Candidate Donald Trump pledges to commute Ross Ulbricht's prison sentence.

• GMO partners with Nomura & Laser Digital to explore stablecoin issuance in Japan.

Alpha

• ⭐️ Taiko launches Mainnet, now at Stage 0 on Road To Decentralization.

• Babylon launches Bitcoin Staking Testnet-4 tomorrow on May 28th.

• Stargate delays V2 by 24 hours & posts updated V2 Launch Timelines on X.

• Reya launches Rank Reveal Event (RRE) for Season OG.

• Ten launches Meet Ten Stage 4 quest on Galxe.

Airdrops

• Cashmere introduces Retroactive Public Goods Points for Season 1 claimers.

• ICYMI Weekly Airdrop News & Claims by Earndrop.

• Solayer Private Access by Alpha Drops.

• Plume Incentivized Testnet Waitlist by Airdrop Official.

Finance News

• ⭐️ Argentina & El Salvador officials discuss Bitcoin $BTC adoption.

• ⭐️ xAI raises $6B in Series B funding at a pre-money valuation of $18B.

• China semiconductor stocks surge on reports of $48B chip fund.

Security and Exploits

• ZachXBT posts investigation of $CAT meme coin team on X.

• Normie $NORMIE plummets 99% due to flash loan attack.

• Relevant targeted by malicious proposal; users advised to vote against it.

• Microsoft calls attention to cybercrime group Storm-0539.

Token Unlocks

• Echelon Prime / 1.66M $PRIME / ~$32M / MAY 31
• Optimism / 31.34M $OP / ~$80M / MAY 31
• Manta / 1.87M $MANTA / ~$3M / MAY 31

Funding

• NodeOps, an infrastructure for node operators & developers; raises $5M in funding led by L1D.

• Omakase, a Web3 infrastructure provider; raises an undisclosed amount in Seed funding from Nomura.

The Degen Farmer

Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!

PROTOCOL	ASSETS	APY
Ramses CL (Arbitrum)	USDCUSDC	94.34%
KiloEx (Op_bnb)	USDT	92.01%
Notional V3 (Ethereum)	NUSDC	78.74%
Abracadabra Spell (Arbitrum)	MIMUSDCUSDT	65.10%
PancakeSwap AMM V3 (Ethereum)	USDCUSDT	57.32%
Toros (Base)	SUSDCY	56.25%
Morpho Blue (Ethereum)	USDEDAI	52.89%
Extra Finance (Base)	DOLAUSDC	50.45%