Social finance platforms, the latest trend in crypto, are starting to experiment with more features in a bid to find a successful product market fit. Only they might struggle to disassociate themselves from the financial speculation element that kickstarted their initial success.
What stands out about FriendTech is that although it has been the most successful social finance app by far — largely due to it being the first mover with this specific recipe — it is still quite an underdeveloped application. The application lets you post in group chats and trade keys, but that's about it.
While not strictly a new functionality, Arbitrum-based CipherRIP is experimenting with ways to encourage users to buy more keys . New users have to buy at least five cores in order to send a message — called a cipher — on its public feed. This may encourage more trading, although it risks putting new users off from giving it a go.