Friend.tech Team Renounces Control Over Smart Contracts

Friend.tech, the struggling decentralized social media application, has announced a major update to its platform, setting the admin and ownership parameters of its smart contracts to the address 0x000…000. This move effectively renounces control over these contracts, ensuring that no future changes can be made to their fees or functionality. The web client at friend.tech will continue to operate as usual, unaffected by this change. Additionally, the platform clarified that no fees from either the smart contracts or the web client are currently directed to the Friend.tech development team’s multisig wallet.