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Friend.Tech protocol Revenue Crosses A Massive 10,000 ETH, What’s Next?

The total value locked on the Friend.tech protocol has also exceeded to 30,165 ETH showing a strong trust among the stakeholders.
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Friend.Tech protocol Revenue Crosses A Massive 10,000 ETH, What’s Next?

The Friend.Tech protocol, built upon Coinbase’s Layer-2 platform Base, is once again making a buzz in the market, thereby riding on some major enthusiasm in the decentralized finance (DeFi) market.

As per the latest data from Dune Analytics, the Friend.tech protocol revenue has surged past 10,000 ETH. Also, as per the exact figures, the DeFi protocol has clocked a total revenue of 10,648 ETH.

Another major milestone is the surge in the total value locked on the DeFi protocol. The TVL on Friend.tech has exceeded 30,000 ETH, reaching 30,165 ETH. This underscores the growing trust and commitment of all the stakeholders of the protocol.

Apart from conventional metrics, Friend Tech’s sniper bots are emerging as the unsung heroes. These bots, numbering over 450, have generated profits exceeding $5.9 million, constituting a remarkable 34% of the total creator’s revenue. Their success underscores the efficiency of Friend Tech’s algorithms and the potential of automated trading solutions in the DeFi space.

As Friend Tech continues its meteoric ascent, these milestones serve as indicators of a larger 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 major development in the decentralized finance domain

Friend.Tech Creates Major Buzz

Based on Coinbase’s Layer-2 platform Base, the decentralized social platform Friend.tech created a major buzz upon its launch in August 2023. Within a few hours of its launch, the protocol surpassed key players like Uniswap in terms of total fees.

Friend.tech operates as a decentralized social network where users have the opportunity to trade “keys,” previously referred to as “shares,” associated with Twitter (now X) accounts. These keys grant access to private in-app chatrooms and exclusive content provided by the respective X user. The platform positions itself as “the marketplace for your friends”.

Within the app, each user possesses a chat group similar to those commonly encountered on platforms such as Telegram. However, there’s a unique twist: to gain access to other users’ private chatrooms, individuals are required to purchase keys. Subsequently, if they opt to exit the chat, they have the option to sell these keys.

In essence, Friend.tech can be likened to a social media platform, with specific similarities to X.

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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