We looked into a system very much like that too. Had a different name for it too. It's interesting because it rewards people for playing together. All of these very specific restrictions end up feeling very arbitrary. It's like you have restrictions that aren't tight enough because it allows an exploit case and then you slowly tighten things up bit by bit until it flips over some invisible line and suddenly it's no longer worth it to jump through the hoops but at the same time, it's a pain to have to jump through those same hoops.
This is a scenario that we would ideally like to avoid if possible.
Timmy: Thanks for getting this game for me, I'm really excited to play with you.
Jack: Here are some cool leveling items to get you started.
System: Can't trade with that friend, need more playtime together.
Jack: Hunh? That's weird, it let me trade with our other friend who plays.
Timmy: sadge