Friend.tech Generates Impressive Revenue on Base Layer 2 Network
Friend.tech, a social application built on the Base Layer 2 network, has achieved significant revenue growth in a short period of time. According to recent data, the platform has earned approximately $10,684 in ETH within just two months.
An analysis of charts provided by Dune Analytics reveals a steady upward trend in Friend.tech’s revenues since its creation on August 10. The platform experienced slow growth during its first month of activity but saw a significant increase in revenue starting from September 10.
Growth Milestones Reached
On September 9, Friend.tech surpassed $5 million in revenue after one month of activity. As of now, the cumulative revenue has exceeded $18.4 million, indicating rapid growth in recent days.
Sniper Bots Driving Revenue
Data shows that sniper bots within the Friend.tech network have contributed significantly to the platform’s revenue. Over 459 sniper bots have accumulated more than $5.9 million, accounting for approximately 34% of the total creator revenue.
These sniper bots have sniped on around 33.44K subjects, earning about $5.935 million in revenue during the period analyzed. Individual sniper bots have reported substantial profits, with some making daily profits exceeding hundreds of thousands of dollars.
Diverse Profit Levels by Subject
Profit levels vary for each subject sniped on at Friend.tech. For example, one bot using contract 0xff231 has sniped on 232 transactions and earned a trading profit of 345.76 ETH ($596.4K). Another bot using contract 0x88e6a has sniped on over 971 subjects and earned 182.7 ETH ($315K).
The platform’s third most profitable address, 0x7501, sniped on 27 subjects and accumulated profits of approximately 129.31 ETH ($223K).
Friend.tech’s Overall Success
Friend.tech has achieved significant growth in various metrics. Its total value locked (TVL) currently stands at $52.31 million, and it has attracted 305,892 users. The platform has seen an inflow of about 213 million ETH ($349.7 million) since its inception.
The number of daily transactions has fluctuated, with the highest recorded at 539.8k on September 13. The cumulative number of transactions is currently at 9.17 million.
Hot Take: Friend.tech Skyrockets in Revenue and User Base
Friend.tech has experienced remarkable revenue growth on the Base Layer 2 network, generating over $18.4 million in just a few months. With the success of sniper bots contributing to a significant portion of the platform’s revenue, individual bots have reported substantial profits by sniping on different subjects.
The platform’s overall performance is impressive, with a high TVL, a large user base, and substantial transaction volume. Friend.tech is undoubtedly making waves in the crypto world and attracting attention for its rapid growth.
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