Several projects are building tools that simplify how you interact with friend.tech, trade Keys, and manage your portfolio.
One such tool is FriendX.
What is FriendX
FriendX is a decentralised exchange, portfolio tracker, and analytics platform for friend.tech Keys powered by its native token —FRIENDX.
The platform also serves as a friend.tech alpha aggregator, allowing its token holders access to premium content without having to buy expensive Keys.
Think of it as the CoinGecko or CoinMarketCap of friend.tech Keys but with a token and other unique features.
The FRIENDX Token
FriendX is powered by its native token, FRIENDX, which has a maximum supply of 1 million and grants you access to premium features on the platform.
FRIENDX is an ERC20 token on the Ethereum blockchain with a 5% buy and 5% sell taxes which is used exclusively for marketing and development of the platform.
Features of FriendX
FriendX has 8 features that aim to simplify how you trade and manage your friend.tech Keys. From basic to premium features some of which are still yet to be released, we’ll discuss them all below.
1. Listings
FriendX lists and tracks the prices of the most popular friend.tech Keys in real-time.
At a glance, it shows you marketcap, 24-hour volume, supply and the total number of holders of all listed Keys.
FriendX listings
It also shows you the top 3 trending Keys, biggest gainers and losers for the day. Making it easy for you to stay up to date on what’s happening on friend.tech.
2. Portfolio tracker
You can enter your (or any other friend.tech user’s) wallet address in the portfolio section to view your total net worth, details of all the keys you hold, and your trading activities.
FriendX portfolio tracker
Gives you a comprehensive overview of your friend.tech Keys portfolio in real-time.
3. Charts
Clicking on any user on FriendX will open their Keys chart and comprehensive data, including their marketcap, volume, number of shares and holders, trading history, etc.
FriendX charts
4. Trading
FriendX enables you to trade friend.tech Keys like you’re trading a regular token on a regular DEX.
FriendX DEX for Friendtech Keys
This makes it easy for anyone to buy or sell friend.tech keys without having an account on the platform through its simple trading interface.
You can buy or sell multiple Keys at once without any additional charges or trading fees.
5. Watchlist
FriendX allows you to monitor your favourite friend.tech Keys with personalized notifications through its watchlist feature.
FriendX watchlist
To add a Key to your watchlist, click the *Star icon just after the username.
6. Feed Explorer
The Feed Explorer gives you live updates of recent activities, a heat map of the latest buy and sell actions, performance indicators, insights into daily and weekly volumes, etc., on friend.tech.
It promises to give you a holistic view of what’s happening on friend.tech with the latest data and insights. It can be customised to help you focus on the metrics and activities that matter most to you.
PS: This feature has not been launched or enabled yet.
7. Live New Keys
This enables you to discover new users joining friend.tech in real-time and be among the first to buy their Keys.
You can also set up custom notifications to get alerts when specific individuals you’re interested in register on friend.tech.
PS: This feature has not been launched or enabled yet.
8. Secret Room
Holding the FRIENDX token grants you access to the Secret Room where they share or stream exclusive content from top friend.tech users.
So, with FriendX you don’t have to buy expensive friend.tech Keys to enjoy premium content from the top friend.tech accounts.
Consider the Secret Room as the friend.tech alpha aggregator and a place to discuss with like-minds.
PS: This feature has not been launched or enabled yet.
Limitations of FriendX
FriendX seems like a cool tool that helps you trade friend.tech Keys and manage your portfolio, but it does have some problems highlighted below:
- The team is anonymous but they’re very active in the community and seem to know what they’re doing both in terms of product development and marketing.
- Supports only friend.tech. FriendX currently doesn’t list Keys or Shares of other SoFi platforms. It’s like CoinGecko listing only tokens on Ethereum.
- If Friendtech fails so will FriendX. The survival of the platform depends solely on the success and growth of Friendtech.
- Some key features are yet to be launched but the team is shipping fast, so this may be a non-issue.
Is FRIENDX a good investment?
Yes. I think FRIENDX is a good investment at the current price of $0.19. And I will be comfortable buying the token anywhere between this price and $1.
I already bought some at $0.22 and will just hold and chill for now.
Currently, FRIENDX has a fully diluted valuation (FDV) of $190,000 which I consider highly undervalued.
For perspective, the top account on friend.tech as of today (October 3, 2023) has a marketcap of $1.6 million and FriendX is an aggregation of all the top accounts.
So, the current price doesn’t reflect the value proposition of the project.
People who can’t afford to buy an 8 ETH ($13,000+) Key can buy and hold 1,000 FRIENDX and gain access to the same content as those who do own the Keys.
But there’s only a maximum supply of 1,000,000 FRIENDX, which means only 1,000 people can own at least 1,000 tokens.
When the Secret Room and other premium features are enabled, there should be strong and sticky demand for FRIENDX that can push it beyond $1.
Also, the team is buying back the token with a portion of the tax revenue to protect the floor price. I see this as the team being bullish on the token and acquiring some for themselves.
They know more than us, so I will follow their lead.
DISCLAIMER: I own a small bag of FRIENDX tokens which is just enough to give me access to the Secret Room for aggregated alpha. And I plan to start taking profit when it hits the $1 million marketcap mark.
Conclusion
FriendX is a tool that simplifies how you trade and manage your friend.tech Keys. It is the CoinGecko of friend.tech Keys but with a token and other unique features that make it a lot more fun.
I believe many Friendtech users will find it useful for finding, trading, monitoring and analysing Keys, and staying up to date with what’s happening on Friendtech.
What do you think of FriendX?
Disclaimer
The content of this article is for informational purposes only and should not be taken as financial advice or an endorsement of any project. Cryptocurrency investments are highly speculative and volatile, and you could lose all of your money.
Please always do your own research before making any investment decisions.
