Friendzone, a pioneering Web3 platform redefining Social Finance (SocialFi) on the blockchain, has officially unveiled its Social Capital Marketplace on the Polygon Proof-of-Stake network. This launch signifies a pivotal step towards realizing Friendzone’s ambition to become the premier social media decentralized application (dApp) in the emerging Web3 industry.
Friendzone’s Unique Offering: Marrying Social Media Engagement and Web3 Rewards
Friendzone stands out as a decentralized protocol that seamlessly blends the engagement dynamics of traditional social media with the financial rewards enabled by Web3 technology. It introduces a paradigm shift that not only acknowledges social media presence and influence but also translates it into tangible and monetizable rewards. The platform aims to redefine the social media landscape, turning each interaction into a potential source of value. This innovative approach empowers content creators and users to seamlessly monetize their online experiences.
Strategic Funding Round and Advisory Board Expansion: A Strong Foundation for Growth
The launch on Polygon PoS coincides with the successful conclusion of a substantial funding round led by notable angel investors, including Kain Warwick, Kieran Warwick, Danny Wilson, Thomas Aslanian, Anton Buenavista, Jackson Chan, and other experienced professionals from Synthetix, Pendle Finance, Bybit, Metastreet Labs, and Renzo Protocol. This funding round brings Friendzone’s total raised amount to over USD 750,000. The startup has also expanded its advisory board, welcoming new members TN Lee and John Park.
Innovative Protocol Design: Overcoming Challenges in the SocialFi Space
Friendzone distinguishes itself in the competitive SocialFi space through its nuanced incentive and protocol design. The platform addresses scalability and liquidity challenges that have hindered the growth of first-generation SocialFi platforms. With an adaptive bonding curve and continuous market feedback integration, Friendzone ensures fair token valuation with unhindered access for both small and large networks. The platform prioritizes sustained engagement and network growth, overcoming accessibility and liquidity bottlenecks seen in alternative SocialFi protocols.
Custom Creator Controls and Staking Feature: Empowering Users and Ensuring Equitable Distribution
Friendzone introduces custom creator controls, empowering every user to be a creator with the ability to customize their social media activity. Users can create tailored offerings, from public events to private groups, setting terms and prices that reflect the value they provide. The platform also incorporates a staking feature in its tokenomics model, inspired by Curve’s veCRV model, ensuring a more equitable distribution of each creator’s revenue based on both the quantity and duration of the user’s stake.
Interest and User Onboarding: A Promising Start
Friendzone has generated substantial interest with over 5,000 whitelisted users signed up before its launch on Polygon PoS. To ensure stability during its incentivized beta rollout, the platform plans to onboard users in batches of 1000, progressively expanding as the project evolves from beta, undergoes bug monitoring, and refines to provide an optimal user experience.
Integration with Polygon Ecosystem: Unleashing New Dynamics in SocialFi
Friendzone expresses immense pride in launching on the Polygon ecosystem, emphasizing the scalability, speed, and security offered by Polygon PoS. The collaboration signifies a shared vision of empowering users and creators in the decentralized digital economy. Friendzone looks forward to exploring new use cases and accelerating innovation within the SocialFi space by tapping into Polygon’s powerful ecosystem.
Future Collaboration and Innovation: Polygon’s Dedication to Groundbreaking Projects
Polygon Labs acknowledges Friendzone as a groundbreaking project that sets a new standard in the SocialFi industry. The collaboration underscores Polygon’s commitment to supporting innovative projects pushing the boundaries of Web3 possibilities. As Friendzone pioneers a new era of social media, this collaboration aligns with Polygon’s dedication to shaping the future of Web3 and beyond.
Conclusion: Friendzone’s Journey Towards a Scalable Web3 Social Graph Monetization Layer
Today’s launch and funding round mark the beginning of Friendzone’s journey, laying the groundwork for an interoperable protocol that provides a scalable foundation supporting the monetization layer of on-chain social graphs. Friendzone aims to continue its trajectory of innovation and redefine the landscape of decentralized social media.
