The Friend.Tech protocol, built on Coinbase’s Layer-2 platform Base, is once again making waves in the market, generating great enthusiasm in the decentralized finance (DeFi) market.
According to the latest data from Dune Analytics, revenue from the Friend.tech protocol has risen above 10,000 ETH. According to the exact figures, the DeFi protocol has also clocked a total turnover of 10,648 ETH.
Another important milestone is the increase in the total value captured on the DeFi protocol. The TVL on Friend.tech has surpassed 30,000 ETH and reached 30,165 ETH. This underlines the growing confidence and commitment of all stakeholders to the protocol.
Conventional metrics aside, Friend Tech’s sniper bots emerge as the unsung heroes. These bots, more than 450 in total, have generated profits of more than $5.9 million, representing a remarkable 34% of the creator’s total revenue. Their success underlines the efficiency of Friend Tech’s algorithms and the potential of automated trading solutions in the DeFi space.
Firend Tech protocol revenues have surpassed 10,000 ETH, reaching 10,644.8 ETH; At the same time, friend tech TVL has surpassed 30,000 ETH and reached 30,165 ETH. More than 450 Friends tech sniper bots have earned more than $5.9 million, accounting for 34% of creators’ revenue.
— Wu Blockchain (@WuBlockchain) October 2, 2023
As Friend Tech continues its meteoric rise, these milestones serve as indicators of a bigger picture. The combination of robust revenue figures, an impressive TVL and the triumph of sniper bots sets the stage for what could potentially be the next big development in the decentralized finance space
Friend.Tech is creating a big buzz
Based on Coinbase’s Layer-2 platform Base, decentralized social platform Friend.tech made waves when it launched in August 2023. Within hours of launch, the protocol surpassed major players like Uniswap in terms of total costs.
Friend.tech operates as a decentralized social network where users have the ability to trade “keys,” previously called “shares,” associated with Twitter accounts (now X). These keys grant access to private in-app chat rooms and exclusive content offered by the respective X user. The platform positions itself as “the marketplace for your friends”.
Within the app, each user has a chat group that is similar to the chat group you often encounter on platforms such as Telegram. However, there is a unique twist: to gain access to other users’ private chat rooms, individuals must purchase keys. If they then choose to leave the chat, they have the option to sell these keys.
Essentially, Friend.tech can be compared to a social media platform, with specific similarities to X.