The emergence of a new blockchain that takes the market by storm is rare, but Friend.tech appears to be doing just that! In a sector where revolutions are happening all the time, Friend.tech seems to be the next big thing. With rapid growth and impressive revenues surpassing even some established blockchains, Friend.tech promises to change the face of the crypto world. Are you curious how? Dive into the world of Friend.tech, the social media dapp that could shape your financial future!
Strong performance compared to other cryptocurrencies
During that day could friend.tech on $1.4 million in fee income come outperforming most of the leading crypto projects. Thus, the social media dapp comes up place 3 of the Web3 projects with the highest fee income.
Friend.tech was even able to do that outperform major blockchains Uniswap, Tron, Convex, PancakeSwap, Bitcoin, MakerDAO and Base itself. Only Ethereum with $3.33 million and Lido with $1.54 million are ahead of Friend.tech today.
Of the $1.42 million in charges, $709,739 was profit, which is about half. This is also still much more profitable as Ethereum, which records less than a third of the fee income as profit, while at Lido it is only around a tenth.
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Since the testing period on August 10, noisy Dune.com 83,149 users have already used Friend.tech and 1,152,064 shares have been traded. During the first week, holders earned $650,000 in rewards, receiving a 5% share of the $13.25 million in trading volume.
While these numbers look particularly promising, However, the user numbers give a completely different view. Because these rose particularly sharply on the second day after the start, on August 11th. Since then, however Significant declines in new and returning users.
What is Friend.tech?
Friend.tech is a social media dapp based on Coinbase’s new Layer 2 solution called base was launched. Actually it is one Extension for Twitterwith which users with other users Trade tokenized stocks and shares of Twitter profiles can. However, users can only purchase profile shares if they are registered with Friend.tech themselves.
This gives users the opportunity to to get in touch with that person. But that’s not the end of it. Because about it they get thus as well Access to exclusive content and chat rooms. This means that users can also monetize their profiles in other ways.
However, not only the influencers can earn money via the platform. Because besides have the Shareholders of the shares the opportunity for increases in value. Likewise, with these one passive income be achieved, with the users 5% of the trading volume of the shares receive.
These are also the reasons why the application was able to experience a particularly high demand after a short time. This development is all the more remarkable in view of the fact that Interested parties need an invitationto be able to use the new social media dapp.
One reason for the positive response may also be due to that weekly AirDrop, which is paid to users during the test phase. However, the release of the full version will take a little more time.
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All about the AirDrop
A key part of the Friend.tech hype is the AirDrop. Through partnerships, particularly with Paradigm, and after the successful $50 million Series A fundingFriend.tech is preparing to issue a token.
For those unfamiliar, an AirDrop is a marketing strategy in which Points distributed for free to members of the crypto community become. Friend.tech users can qualify by completing the Download the app, log in with Twitter and top up your base wallet.
Conclusion
Friend.tech has made waves in no time by outperforming most of the leading crypto projects and offering a revolutionary way to monetize social media profiles. With a promising launch, an AirDrop, and passive income opportunities, it’s understandable why this platform is gaining popularity. Despite some concerns about the decline in new and returning users, Friend.tech remains an intriguing project to watch.
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About the author: Simon Feldhusen first came into contact with the stock market 17 years ago and has been dealing intensively with trading, cryptoassets, stocks, P2P, corporate finance, finance and entrepreneurship on a daily basis for more than 8 years. He has also been working as a copywriter and ghostwriter in the financial sector for several years. During this time he has acquired a diversified knowledge through various training courses on the financial markets and following the daily news. Since then, not a day has gone by that he hasn’t engaged with the markets. He publishes for Finanzen.net, ETF-Nachrichten.de, Coincierge.de and P2E News.com.