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Friend.tech's imitations of Tomo and New Bitcoin City gain popularity, take a quick look at the project models and functional designs.

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Original title: "Friend.tech imitates Tomo and New Bitcoin City, what are the innovations and optimizations?"

Original source: PAnews

Last month, the popularity of Friend.Tech sparked interest in SocialFi narratives. FriendTech popularized the idea of having a closed community, where users need to pay for a so-called key to access group chats. Each time a key is purchased, the price becomes even more expensive. After the emergence of Friend.Tech, many similar imitations appeared in the market, including Avalanche chain Stars Arena, Solana chain HUB3 and Friendzy, and Arbitrum chain Post.Tech.

Recently, two other imitations, Tomo and New Bitcoin City, have emerged, with Tomo's TVL reaching $1.46 million and New Bitcoin City's TVL reaching $1.07 million, showing a trend of surpassing Friend.Tech. This article will take you on a quick tour of the models and functional designs of Tomo and New Bitcoin City, highlighting their optimizations and innovations.

Tomo: Can be traded without joining

Tomo is based on the Linea protocol. Its early players include the founder of Polychain, the founder of Ankr, and the founder of Galex. The crypto community once believed that the project was launched by the Ankr team, but this has not been confirmed.

In terms of gameplay, Tomo and Friend.Tech have both launched Keys. The difference is that Tomo has also launched Votes. Votes were the name for KOLs before they joined Tomo, so even if they have not yet joined, Votes can still be traded. Therefore, users can gamble on whether a certain KOL will join by trading Votes. Once the KOL joins, Votes will be converted to Keys. For example, Musk's Vote is currently worth 0.478 ETH (about $743 USD). If Musk joins, 0.478 ETH will be the price at which his Key starts trading.

Tomo's revenue mechanism mainly starts running when users buy in. There is a 10% tax when users buy Key (or Vote), with 5% allocated to the platform and 5% allocated to KOL. If KOL is not registered, the 5% tax will be stored in the pool as unclaimed value. As users continue to buy, the trading volume of Votes will increase, and the funds in the pool will continue to grow, gradually increasing the attractiveness of KOL registration. If KOL does not register for a long time, the funds in the pool will be distributed to Vote holders after six months.

除金融属性外，Tomo's APP highlights its social attributes and adds private chat functionality. It is worth noting that the project code is currently not open source.

New Bitcoin City: Meeting Customized Trading Needs

On September 16th, New Bitcoin City, a Bitcoin ecosystem development team, launched an application called Alpha. Alpha is a decentralized social networking protocol similar to Friend.Tech. The way it works is that users purchase tokens related to the content creators themselves, which are used to access exclusive content.

New Bitcoin City member and Alpha founder (alias Punk3700) stated that Alpha is based on the Bitcoin layer 2 network NOS, which uses a hybrid design and utilizes the Bitcoin network for data validation. However, Alpha's technology stack is not entirely based on Bitcoin, but also uses Polygon for data storage and Trustless Computer technology. Trustless Computer is a low-cost Layer2 infrastructure that can support applications such as DEX, DAO, or NFT markets on Bitcoin. Punk3700 stated that building Alpha in this way helps to reduce transaction fees and benefit users.

Users and communities are the main driving force behind the creators of the Alpha platform, which was developed and launched in just 48 hours. Unlike most SocialFi platforms, Alpha is more inclined to be a social layer, allowing users from other protocols such as Friend.tech to use their keys on its application. Alpha meets users' personalized needs, including setting the fee for Key transactions (0-8%) and the number of keys required to access group chats. Alpha supports users buying each other's keys that have been used for a month, a process known as "(3,3)".

Friend.Tech has been criticized since its launch. Not only because Friend.Tech lacks decentralization and privacy protection, which does not reflect the spirit of encryption, but also because of the suspicion of riding on the Base trend. Will the emergence of Tomo and New Bitcoin City imitations shake Friend.Tech's market position? Can future versions surpass the original, or will new versions appear to keep the SocialFi narrative hot? PANews will continue to pay attention.