Friend.tech is an exclusive social application that is integrated with Twitter. It operates on Coinbase’s Base Layer 2 chain and allows users to trade shares in each other’s profiles. By holding shares, users gain access to exclusive content and private chat rooms within the app.
What you need to know: Friend.tech has generated over $1.42 million in protocol fees in the last 24 hours, positioning itself as one of the top three projects in terms of fee generation, according to DeFiLlama. This places friend.tech ahead of projects like Uniswap and Tron, ranking just below the Ethereum blockchain and Lido Finance in terms of fees. In the past week, friend.tech’s fees reached $2.99 million, with $1.49 million recorded as revenue.
Despite its rise to the third position in 24-hour fees, friend.tech is currently accessible only through invitation.
Additionally, the platform recently disclosed receiving a seed investment from venture firm Paradigm, although the specific investment amount remains undisclosed. The platform has seen significant traction since its beta release, recording 65,000 unique traders and $26 million in trading volume, as reported by Crypto Koryo’s Dune Analytics dashboard.
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