$1.1 Million TVL Loss at Friend.tech: Implications of Base Network Problems

Thursday, 4 July 2024, 16:46
Friend.tech experiences a $1.1 million Total Value Locked (TVL) decline as challenges with the Base Layer 2 network lead to dissatisfaction among users, resulting in a notable drop in the token's value. The incident sheds light on the vulnerability of projects tied to specific networks and emphasizes the importance of user trust and network stability in the DeFi sector.
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$1.1 Million TVL Loss at Friend.tech: Implications of Base Network Problems

Friend.tech Faces $1.1 Million TVL Drop

Friend.tech encountered a significant reduction in Total Value Locked (TVL) amounting to $1.1 million. The decline was primarily attributed to ongoing issues associated with the Base Layer 2 network.

Network Problems Lead to User Discontent

The persistence of problems with the Base Layer 2 network resulted in increased dissatisfaction among users of Friend.tech.

  • Token Value Dip: The diminishing trust in the network led to a considerable drop in the value of the project's token.
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