Friend.tech Generates Over $1.42 Million in Protocol Fees, Ranks Third Among Crypto Projects
Friend.tech, a social app integrated with Twitter, has generated protocol fees exceeding $1.42 million in the last 24 hours, ranking it as one of the top three crypto projects in terms of user-paid fees. Here are the key points:
- Friend.tech surpasses other blockchain projects in terms of fees, ranking behind only Ethereum and Lido Finance.
- Operating on Coinbase’s Base Layer 2 chain, the app allows users to trade tokenized shares in each other’s profiles.
- The platform has gained momentum among Twitter users and attracted high-profile members like Y Combinator CEO Garry Tan and NBA player Grayson Allen.
- Since its beta release, Friend.tech has recorded 65,000 unique traders and $26 million in trading volume.
- Although currently invite-only, the project recently received a seed investment from venture firm Paradigm.
Hot Take: Friend.tech’s impressive rise in protocol fees highlights its growing popularity among crypto users. With its unique integration with Twitter and the ability to trade tokenized shares, the app has attracted a significant number of traders and high-profile members. As the platform expands its availability and continues to receive investments, it has the potential to become a major player in the DeFi space.
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