Post.Tech Sees Surge in Trading Volume, Challenging Friend.Tech’s Dominance
In the competitive world of social media, token-gated channels have been dominated by Friend.Tech. However, its rival, Post.Tech, has recently experienced a significant increase in daily trading volume. Both platforms allow users to buy and sell access tokens, charging a 10% fee on transactions that is split evenly between the app and the channel’s owner.
Soaring Usage for Post.Tech
According to data from DappRadar, Post.Tech recorded $875,000 in transaction volume on September 20. In just a few days, the platform has seen its daily trading volume skyrocket from 2,000 transactions on September 16 to over 190,000 transactions as of September 21. Over the past 24 hours, more than 22,000 unique active wallets (UAWs) have interacted with Post.Tech compared to 14,300 UAWs on Friend.Tech.
Different L2 Networks and Reward Mechanisms
One notable difference between the two platforms is their use of different Ethereum Layer 2 networks. Friend.Tech operates on Coinbase’s new Ethereum Layer 2 network Base, while Post.Tech uses the older but popular Ethereum Layer 2 network Arbitrum.
Additionally, the reward mechanisms differ between the two platforms. Friend.Tech rewards users with points, leading to speculation about potential airdrops in the future. On the other hand, Post.Tech offers cash rewards distributed proportionally based on user activity.
The recent surge in usage for Post.Tech could be attributed to its announcement of a $100,000 reward for activity between September 7 and September 22. This incentive may have contributed to the platform’s rapid growth.
Hot Take: Post.Tech Challenges Friend.Tech’s Dominance in Token-Gated Channels
Post.Tech has emerged as a formidable competitor to Friend.Tech in the world of token-gated channels. Despite launching a month later, Post.Tech has experienced a surge in daily trading volume and usage. With its use of the popular Ethereum Layer 2 network Arbitrum and cash rewards based on user activity, Post.Tech offers a different approach compared to Friend.Tech’s use of Coinbase’s Ethereum Layer 2 network Base and point-based rewards system. This competition between the two platforms is driving innovation and benefiting users who can now choose between different options for accessing token-gated channels.
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