Introducing Friend.tech: A Popular App on Coinbase’s Ethereum Layer-2 Base
Friend.tech, an app developed by Racer on Coinbase’s Ethereum layer-2 Base, has gained significant popularity in the decentralized finance (DeFi) space. The app allows users to tokenize Twitter accounts and trade “shares” of social media personalities. Owning a share grants access to a private chat with the person, and the share price fluctuates based on supply and demand.
The Growing Success of Friend.tech
Friend.tech has experienced substantial growth since its launch. According to DeFiLlama, the total value locked (TVL) in Base increased from $201.69 million to a peak of $411.5 million between August 31 and September 6, currently sitting at $356.51 million. Friend.tech alone recorded a TVL of $52.42 million, showing a 4% increase in a day, 34% in a week, and an impressive 670% in a month.
A Prominent Player in the Market
Friend.tech has secured its position as one of the top players in the market. It currently holds the second spot, with Aerodrome leading at $104.98 million TVL.
Criticism and Resilience
Despite its success, Friend.tech has faced criticism and skepticism throughout its journey. The project has been pronounced dead multiple times, but it continues to thrive and attract users.
Hot Take: Friend.tech Revolutionizes Social Media Trading
Friend.tech is revolutionizing social media trading by allowing users to buy and sell shares of popular personalities on Twitter. With its unique approach and growing popularity, it has become a prominent player in the DeFi space. The ability to access private chats with influencers through share ownership adds value to the platform. Although faced with criticism, Friend.tech has proven its resilience and continues to make waves in the market.
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