The new native token for Web3 social media platform FriendTech has started trading on its native decentralized exchange on the Base network.

The Friend token currently trades at $3 with a circulating supply of about 14.5 million, according to DexScreener.

FriendTech, which launched last August on the Ethereum Layer 2 network Base, has gained prominence with its unique, invite-only networking service that leverages social tokens called “Keys” that give users access to exclusive chats and content from creators.

The token airdrop occurred simultaneously with the launch of FriendTech’s version 2 (v2), which offers users new features. These include “Clubs,” which are community spaces owned and operated by key holders. The keys to the Clubs will be transacted in Friend tokens, with a 1.5% …