Cryptocurrency
Friendzone Brings Social Monetization Protocol Live On Polygon PoS For Over 5,000 Waitlisted Users

[PRESS RELEASE – Road Town, British Virgin Islands, February 27th, 2024]
Friendzone, the sustainable and scalable Web3 platform redefining Social Finance (SocialFi) on the blockchain, has officially launched on the Polygon Proof-of-Stake network. The launch of the Social Capital Marketplace is the first of many key milestones for Friendzone in its mission to become the number #1 social media dApp in the Web3 industry.
Friendzone is an entirely novel decentralized protocol that marries the engagement of traditional social media with the unique financial rewards enabled by Web3 technology, paving the way for the creation of more empowering online communities. In this way, Friendzone is much more than just another SocialFi platform. It represents a paradigm shift that not only recognizes social media presence and influence, but rewards it in tangible and monetizable ways. It promises to redefine the social media industry as a place where every interaction can potentially generate value, empowering content creators and users alike to monetize their online experiences in a seamless way.
The launch on Polygon PoS coincides with the closure of a significant funding round led by angel investors including Kain Warwick (Founder of Synthetix), Kieran Warwick (Founder of Illuvium), Danny Wilson (CFO of Illuvium), Thomas Aslanian (Product & Token Lead of Immutable), Anton Buenavista (Founding Team Pendle Finance), Jackson Chan (Co-Founder of PHD Capital) and many other incredible angels with experience at Synthetix, Pendle Finance, Bybit, Metastreet Labs and Renzo Protocol. Alongside the round, which brings Friendzone’s total amount raised to more than $750,000 USD, the startup is pleased to welcome the aforementioned investors, plus TN Lee (Co-Founder of Pendle Finance) and John Park (Partner at Sparklabs) to its growing advisory board.
Lifting SocialFi To The Next Level
Although Friendzone is competing in an increasingly crowded SocialFi space, its platform is differentiated from others through its nuanced incentive and protocol design. Friendzone is uniquely focused on overcoming the scalability and liquidity challenges that have hampered the growth of first-generation SocialFi platforms, setting it up to become the first protocol of its kind to go mainstream.
Friendzone has designed its protocol economics around an adaptive bonding curve that takes into account market feedback in real-time, ensuring that its token valuation is always fair, with continuous access for both small and large networks. Through this mechanism, it promotes sustained engagement and network growth without being constrained by the accessibility and liquidity bottlenecks that have held back alternative SocialFi protocols.
With its custom creator controls, Friendzone empowers everyone to be a creator with the ability to customize their social media activity and create tailored offerings ranging from public events to private groups, where they can set terms and prices that better reflect the value they provide. Besides the purchase and sale of its “Creator Chips”, Friendzone incorporates a staking feature into its tokenomics model that takes into account both the quantity and duration of the user’s stake. It’s inspired by Curve’s veCRV model and aims to ensure a more equitable distribution of each creator’s revenue, incentivizing network users to actively contribute to the success of every creator with a share of their rewards.
Through these novel innovations, Friendzone promises to transcend the emotional incentives of traditional social media networks by integrating powerful financial incentives enabled only with crypto, amplifying its network effects to enhance user engagement and fairly reward participation on the platform and all integrated decentralized applications existing today.
A Progressive Rollout
Friendzone has generated enormous interest prior to its launch on Polygon PoS, with more than 5,000 whitelisted users signed up. To ensure stability during its incentivized beta rollout, the protocol is capping the number of users allowed onto the network in batches of 1000. The plan is to progressively onboard more users as the project demonstrates its worth and evolves from its beta stage, where it will be closely monitored for bugs and refined to provide an optimal user experience.
The initial 1000 users selected to participate at launch can now head to X, formerly known as Twitter, to claim their Friendzone handles, which will be the same as their X handles.
During the initial launch period, Friendzone will also integrate a new points system into its protocol, enabling early adopters who beta test the product to begin accumulating points to enhance their rewards and reputations on the platform.
“We are immensely proud to launch Friendzone with the support of the Polygon ecosystem, a collaboration that marks a significant milestone in our journey. The Polygon PoS Network’s exceptional scalability, speed, and security offer the perfect foundation for Friendzone, enabling us to redefine social media engagement and monetization in the Web3 space. The commitment to innovation and the success of projects built on Polygon PoS is unparalleled. This strategic relationship is a testament to our shared vision of empowering users and creators in a disruptive decentralized digital economy.” said Kevin Lu, CEO & Co-Founder of Friendzone.
Friendzone is delighted to bring its collaboration with the Polygon ecosystem to the next level, tapping into its powerful ecosystem and leverage its expertise to explore new use cases and accelerate innovation in the SocialFi space. Friendzone is poised to unleash new dynamics and explore uncharted waters on Polygon PoS as it seeks to bring more value to users in the nascent decentralized social media industry.
The Polygon ecosystem has already distinguished itself in the blockchain arena with its strong ethos of innovation and a litany of unparalleled strategic brand collaborations, making it an ideal landing spots for Friendzone. The protocol’s integration with the Polygon network enables it to make future plans toward tapping into an innovative zkEVM-based Layer-2 architecture that will be instrumental in accelerating its growth as it scales its network and expands its user base. The Polygon networks are home to some of the most dynamic and diverse ecosystems of groundbreaking dApps and communities in the blockchain world, providing further opportunities to collaborate, innovate and bring SocialFi into the mainstream.
“Friendzone represents the first of its kind in the SocialFi space, pioneering a new era of social media that rewards engagement with real value. We are proud to have Friendzone build on Polygon PoS and to work closely with their team to achieve our mutual goals. Their innovative approach to integrating social interactions with value incentives sets a new standard in the industry. This collaboration underscores Polygon’s dedication to supporting groundbreaking projects that push the boundaries of what’s possible in Web3 and beyond.” said SungMo Park, Head of BD APAC at Polygon Labs.
Today’s launch and funding round represents the first of many milestones to come for Friendzone, laying the groundwork for a truly interoperable protocol that will provide a scalable foundation to support 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 ensure fair and dynamic value exchange, tailored to a creator’s reputation and community support. The platform is the first to incentivize sustained engagement and offers creators extensive control over content monetization, promoting a robust and inclusive digital circular economy at scale. Friendzone is supported by a dedicated team of core contributors and advisors from industry-leading entities such as Synthetix, Band Protocol, Koinly, Immutable, Pendle Finance, Cyball, and Sparklabs.
Join the new social Web3 era at friendzone.pro and stay up to date with all the announcements on Twitter and Discord.
Contact
Dasi Kaplan
pr@marketacross.com
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Cryptocurrency
Forget 1%, 3%, or 5%: Financial Advisor Recommends Up to 40% Bitcoin Allocation

Bitcoin’s evolution has been quite spectacular, especially in terms of global adoption. Recall that the asset was mostly ignored by legacy investors for its initial years, then became the laughing stock of many, before it finally started to capture the attention of previous doubters.
As prominent names like Paul Tudor Jones III, Kevin O’Leary, or even former critic Ray Dalio started to enter the ecosystem, their general advice was that people should look to invest no more than 5% in the cryptocurrency. However, the adoption curve has completed a 180-degree turn, and some financial advisors are now recommending bigger percentages. A lot bigger.
40% in BTC?
As reported by CNBC, Ric Edelman, head of Digital Assets Council of Financial Advisors, noted that a lot has changed since his initial take on the matter, which was four years ago. At the time, he advised investors, especially the more conservative ones, to allocate around 1% of their portfolios to BTC.
“Today I am saying 40%, that’s astonishing. No one has ever said such a thing,” he said now.
The reason for this monumental increase in his recommendation is the global status of Bitcoin (and some other cryptocurrencies). Most were ridiculed several years ago when it was unknown whether countries, such as China, or even the US, might move to ban them in some form. Now, the situation is entirely different as the US and a few others have presented plans on how to accumulate BTC as a reserve asset.
Old-School 60/40 Doesn’t Work
One of the most popular theories for investing is allocating 60% of a portfolio into stocks and 40% into bonds. While this classic split may have worked in the past, the landscape is different now, and it requires more risk and a greater exposure to stocks, according to Edelman.
“If you’re a financial advisor and you had a 30-year-old client who was saving for their long-term future, you would tell them to put 100% of their money in stocks, because they have 50 years to go. Today’s 60-year-old is kind of like yesterday’s 30-year-old. You need to get better returns than you can get from bonds, and you need to hold equities longer than ever before.”
Instead of such solid exposure to stocks, though, he said people should diversify with crypto and BTC in particular, which is a “wonderful way to improve modern portfolio theory statistics.”
“The crypto asset class offers the opportunity for higher returns than you’re likely to get in virtually any other asset class,” Edelman concluded.
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Cryptocurrency
Israel Will Buy BTC and ETH and Give it to a Gambling Offender

Israel will buy 19.15 BTC and 83 ETH, collectively worth over $2.2 million. But if you think that this is a step toward adopting crypto or that the country is planning to establish an alternative currency reserve – well, think again.
Shai Siboni – a popular Israeli footballer, who’s also a known gambling offender – had his crypto wallet “lost” while he was detained in police custody over two years ago.
Speaking on the matter was a police official, who said:
This is a serious oversight and it is still unclear how the wallet disappeared.
So, to make up for the “oversight,” the state of Israel will purchase a brand new digital wallet, fund it with 19.15 BTC and 83 ETH, and, well, give it back to Siboni.
Siboni Turned into “an Extremely Wealthy Man”
Commenting on the matter was also a senior official, who said that “this wallet was worth about a million shekels about seven years ago. Since then, currency prices have risen dramatically, and the state will pay dearly for the negligence of an elite police unit.”
This is one of the most serious failures we’ve had, and the saddest thing – no one is taking responsibility.”
Siboni, who is a convicted gambling offender has been turned into an “extremely wealthy man,” concluded the official.
A Gambling Offender
To provide a bit of context on the profile of Siboni – he’s considered a major target when it comes to illegal gambling as part of the Lahav 433 Unit’s investiagtions.
During the two World Cups – the one in 2014 in Brazil and the one in 2018 in Russia – Siboni operated illegal betting lines for thousands of gamblers.
Suspicions place his profits to the tune of more than 100 million shekels. These were used to purchase luxury cars, apartments and other assets. The hard truth, however, is that the state had difficulty proving that the money came from criminal activity, so the majority of his property (including the crypto wallet) was returned to him.
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Cryptocurrency
Calm Before the Storm? Bitcoin Consolidates Around $107,000: Weekend Watch

The broader cryptocurrency market remains relatively calm and for the past 24 hours there haven’t been any major movements.
Bitcoin continues trading in a more or less narrow range between $106,000 and $108,000, begging the question if this is the calm before the storm and if a major move is just around the corner.
Bitcoin Price Consolidates at $107K
Bitcoin’s price didn’t go through any major moves during the past day and continues consolidating at around $107,000.
The absence of volatility is also seen in the level of liquidations, which has declined by 4% on the daily, currently standing at around $200 million, according to Coinglass. The majority of them are short positions, meaning that the bulls are defending this area successfully, at least so far.
As seen in the chart below, the price has managed to recover from the losses endured last weekend following the US strike of strategic Iranian nuclear bases.
That said, as CryptoPotato reported, the number of larger wallets, holding 10 BTC or more, hit 152,280, which is the highest since March. This signals that deep-pocketed investors show a lot of confidence and might be positioning themselves for an incoming rally.
Altcoins Trend Flat but Leaning Bullish
The majority of large-cap altcoins are trading in the green. They are not charting any significant gains, but the heatmap is obviously leaning bullish.
Notably, Ripple’s XRP is charting gains of more than 4% on the day, being the best-performing altcoin from the top 10 by means of total market capitalization.
Bitcoin’s market dominance is down by around 0.5% in the past 24 hours, which shows that the altcoins are attempting to capitalize on its flat trend. It’s interesting to see if this will continue.
The best performer today is Quant (QNT), which is up 6.5%, followed by SPX6900 and Jupiter (JUP), both of which are up by 5.3% and 4.8%, respectively.
On the other hand, Aptos, Pi Network, and SEI are today’s worst performers, down by 7.7%, 3.8%, and 3.6%.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
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