In the past day, friend.tech earned more than $1.4 million in fees for its protocol. This achievement makes it one of the top three projects for fee earnings in the crypto world, according to DeFiLlama.
The social app friend.tech, which works with Twitter, made over $1.42 million in fees in the last 24 hours. This puts it in the top three projects when it comes to fees paid by users.
The increase in fees in the past 24 hours has helped friend.tech become more profitable than other blockchain projects, like Uniswap and Tron. It’s ranked behind only Ethereum and Lido Finance, as shown by data from DeFiLlama. In the past week, the fees earned were about $2.99 million, and $1.49 million of that was profit.
Friend.tech runs on Coinbase’s Base Layer 2 chain. It’s a social app linked to Twitter that lets people trade tokenized shares in each other’s profiles. People who own these shares get special access to content and private chat rooms. The app has gotten really popular on Twitter lately, and it even got some important new members recently, like Garry Tan, the CEO of startup incubator Y Combinator, and Grayson Allen, an NBA player.
friend.tech Achieves $26 Million in Volume Since Launch
Since it started testing in beta mode, about 65,000 different traders have used friend.tech to trade shares. The total trading amount reached $26 million, as shown in a Crypto Koryo report on Dune Analytics.
Even though friend.tech is now one of the top three projects for fees in 24 hours, it’s important to know that the platform is only for invited people right now. The project also said it got some money from Paradigm, a venture company. However, they didn’t say how much money exactly.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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