- Friend.Tech’s revenue breezes past 10,000 ETH, spotlighting its growing prominence in the DeFi arena.
- A substantial surge in Total Value Locked (TVL) to 30,165 ETH signifies robust stakeholder trust and allegiance.
Establishing a DeFi Foothold
As the decentralized finance (DeFi) domain continues to evolve, Friend.Tech protocol emerges as a stalwart with its revenue soaring past 10,000 ETH. Operating atop Coinbase’s Layer-2 platform Base, the protocol, with its latest performance, exemplifies the burgeoning enthusiasm encapsulating the DeFi market.
The metrics are telling; the recent data unveils a revenue pinnacle of 10,648 ETH. The swelling figures don’t stop here. A significant barometer of stakeholder confidence, the Total Value Locked (TVL) on Friend.Tech, has burgeoned to a solid 30,165 ETH. These robust numbers elucidate a deep-seated trust and commitment amongst the protocol’s stakeholders, rendering a strong testament to its growing traction.
Firend tech protocol revenue has exceeded 10,000 ETH, reaching 10,644.8 ETH; at the same time, friend tech TVL has exceeded 30,000 ETH, reaching 30,165 ETH. More than 450 friend tech sniper bots have earned over $5.9 million, accounting for 34% of creators’ revenue.…
— Wu Blockchain (@WuBlockchain) October 2, 2023
Beyond conventional gauges, the prowess of Friend Tech’s sniper bots emerges as an intriguing narrative. Boasting a battalion of over 450 bots, they’ve conjured profits surpassing $5.9 million, embodying a notable 34% of the total creator’s revenue. This triumph accentuates not only the efficacy of Friend Tech’s algorithms but also illuminates the potential automated trading solutions hold within the DeFi sector.
Riding the Wave of Success
Tracing its genesis to Coinbase’s Layer-2 platform Base, Friend.tech carved a niche soon after its inception in August 2023. It swiftly outpaced prominent players like Uniswap concerning total fees, just hours post-launch.
Functioning as a decentralized social nexus, Friend.tech avails its users the avenue to trade
“keys,”
erstwhile dubbed
“shares,”
linked to Twitter (now X) accounts. These coveted keys unveil the doors to private in-app chatrooms and exclusive content, courtesy of the respective X user. Envisioned as
“the marketplace for your friends”,
the platform embeds a distinctive trade mechanism within a social framework.
In the app’s unique ecosystem, each user commands a chat group akin to those on platforms like Telegram. The spin, however, is the requisite of purchasing keys to unlock access to other users’ private chatrooms. This access isn’t shackled; users can opt to sell these keys should they wish to exit a chat, introducing a dynamic trade element in social interaction.
As the trajectory of Friend.Tech ascends, its stellar revenue, bolstered TVL, and sniper bots’ triumph herald a stimulating epoch in the DeFi domain, potentially hinting at the genesis of novel developments awaiting the decentralized finance frontier.
