buddy.tech has a competitor identified as submit.tech that operates on Arbitrum

The blend “Twitter + friend.tech” constructed on Arbitrum, submit.tech, is generating curiosity for the consumer neighborhood of the Web3 social network.

A “copy” task of close friends.tech identified on Arbitrum

Recently, the web3 social networking platform buddy.tech has attracting fantastic curiosity from the crypto neighborhood Through A notable characteristic is possession “key”. The task permits consumers to website link Twitter accounts, then transfer ETH from Ethereum to Base to participate in the purchasing and promoting of “keys,” triggeringMany reviews from significant KOLs have noticed crucial charges improve substantially.

However, close friends.tech has the disadvantage of remaining only a mobile application, not nevertheless supported on personal computers, wherever there are lots of veteran cryptocurrency traders. AS, “post.tech” was born to fix the over excellent challenges, whilst offering a amount of extra functions to make it “friendly” for new consumers.

According to the introduction of submit.tech, they also intend to turn out to be a web3 social networking platform with practically very similar functions to close friends.tech this kind of as: purchasing and promoting keys, earning five% commissions from owning keys, chatting with KOLs.. .but it integrates some extra added benefits for consumers:

• Buying, promoting and interacting with posts performance – By generating engaging, large-top quality material, consumers can earn not only factors, but also ET! Be much more livelythe increased the ETH reward and score acquired.
• Earn five% commissions by holding the keys.
• The crucial proprietor will obtain five% from the obtain/sale of other users’ keys.

🧬 @PostTechSoFi AND @friendtech Comparison#posttechnological traits of the reflectors
– Buy and promote posts
– five% commissions earned to shareholders

Everyone can share and earn https://t.co/nKYfkIpM9c

Early contributors are eligible for our upcoming incentive plan#Sofi pic.twitter.com/Njvkjq8tLA

— submit.tech (@PostTechSoFi) August 31, 2023

Another big difference is friend.tech rewards folks who interact with the app with factors, which speculators hope will lead to an Airdrop. Meanwhile, submit.tech has an Airdrop mechanism of direct revenue obtainable, distributed in accordance to a clear working charge. Number of factors that can be accumulated on each the submit.tech and Twitter platforms (X):

• On submit.tech: via generating posts and engaging posts on the platform
• On Twitter (X): Tweeting or replying with “@PostTechSoFi, #posttechnological AND $post” to receive points.
• Based on the total points earned by users, the post.tech platform will distribute bonuses in stages. At the time of writing, during the period from September 7 to September 22, 2023, all users who earn points will receive a prorated reward of USD 100,000.

According to the platform’s calculations, users can earn a total of 5 USD for 1 post on post.tech and 1 tweet on Twitter (X) when meeting the above conditions (excluding points earned (based on interactions and views of people).

Users can earn a total of 5 USD for 1 post on post.tech and 1 tweet on Twitter (X)

In particular, post.tech is built on Arbitrum, which according to this platform will bring 5 notable advantages compared to friends.tech Base, specifically:

• Lower transaction costs
• Better ecosystem scalability, limited network congestion and fast transaction execution
• Increase security
• Thanks to the decentralized nature of Arbitrum, post.tech further empowers users, promoting the building of an open and decentralized web3 community
• The Arbitrum environment is more developer-friendly, thus maximizing creativity and growth on post.tech.

Discover the 5 key reasons why @PostTechSoFi he chose, he chose @arbitrum as our home base!

Highlighting Arbitrum’s extraordinary features that will drive Post Tech’s unprecedented growth for builders✊

Joint https://t.co/nKYfkIpM9c airdrop – free codes: “200arbog”#posttechsofi pic.twitter.com/Wo2fr8FrGk

— post.tech (@PostTechSoFi) September 9, 2023

Although it has many more user-friendly features than friends.tech, according to comments from some investors, post.tech still has many doubts, including the unknown identity of the team behind the project, the ability to pull the rug. ..

Notably, unlike FT, it is desktop-first, which is much better for a crypto-native audience

The spam problem is quite serious

I also have no idea who the developers are

— Sisyfo (@0xSisifo) September 20, 2023

DefiLlama developer 0xngmi also said that although each user has their own wallet, the keys are not completely self-tracking. If the friends.tech website is hacked, it may result in users losing money.

brief review of friendstech’s security model:
– if friendstech frontend is hacked, they can steal funds (just direct iframe to send ETH)
– if private iframe is hacked, it can steal funds (contains the key)
– if the private dies/losses data, you lose your money, since they keep 2/3 shards pic.twitter.com/h0VLbaYihZ

— 0xngmi (@0xngmi) September 20, 2023

Accounts @0xBender He also expressed concern that friends.tech’s rollout of rewards points would be stopped if they found out Move to other platforms to copy the operating model of this social network.

Isn’t that a risky business? if FT decides to destroy the points of everyone using a competing app like they said they would (but have since gone back) and all your launch points are voided, it could be bad. I would probably use it silently and on an alternate account, if at all

— bender (@0xBender) September 20, 2023

Coinlive compiled

Join the discussion on the hottest issues in the DeFi market in the chat group Coinlive Chats Let’s join the administrators of Coinlive!!!