Friend.tech revenue surges over 10,000 ETH, TVL tops 30,000 ETH
The decentralized social media platform has continued to thrive since it launched in the second week of August and has hit multiple new highs despite critics predicting its downfall. Decentralized social media platform Friend.tech based on Coinbase’s layer-2 protocol Base has touched new heights in terms of revenue growth and total value locked on its platform. According to data from Dune Analytics, Friend.tech revenue has surged to 10,663 ETH and its TVL grew to over 30,000 ETH on Oct. 2. The recent boom in its revenue and trading activity comes amid a decline in hype from its early days of launch. As a decentralized social network platform launched in August 2023, Friend.tech enables users to swap "keys" associated to X accounts (formerly Twitter) belonging to their friends or influencers. These keys give users access to private in-app chatrooms and content only available from the corresponding X user. Users can buy shares in their friends and influencers on the platform...