The decentralized finance (DeFi) market is no stranger to innovations and breakthroughs. Among the many players in this dynamic space, Friend.Tech protocol has emerged as a force to be reckoned with. Recent data reveals some staggering figures associated with the protocol, indicating its growing influence and trust among stakeholders.
Revenue and total value locked: Impressive milestones
The Friend.Tech protocol has been on a meteoric rise, and the numbers speak for themselves. According to the latest data sourced from Dune Analytics, the protocol’s revenue has skyrocketed, surpassing the 10,000 ETH mark. To be precise, the DeFi protocol has registered a total revenue of 10,648 ETH. Such figures are not just mere numbers but a testament to the protocol’s robustness and the trust it has garnered among its users.
But that’s not all. Another significant achievement for the protocol is the surge in its Total Value Locked (TVL). The TVL, a critical metric in the DeFi space, indicates the total assets staked or locked in a particular protocol. For Friend.Tech, this figure has exceeded a whopping 30,000 ETH, standing at 30,165 ETH. This surge underscores the growing trust and commitment of all stakeholders involved with the protocol.
The rise of sniper bots: The unsung heroes of Friend.Tech
While the revenue and TVL figures are impressive, there’s another aspect of Friend.Tech that deserves special mention – the sniper bots. These bots, which number over 450, have been instrumental in generating substantial profits for the protocol. To put it in numbers, these bots have raked in profits exceeding $5.9 million. This figure constitutes a significant 34% of the total creator’s revenue.
The success of these sniper bots is not just a stroke of luck. It highlights the efficiency of Friend.Tech’s algorithms and showcases the immense potential of automated trading solutions in the DeFi domain. As the DeFi space continues to evolve, the role of such automated solutions and their contribution to a protocol’s success cannot be understated.
Friend.Tech: The decentralized social platform revolutionizing social media
Launched in August 2023, Friend.Tech, built on Coinbase’s Layer-2 platform Base, created ripples in the DeFi market. Within mere hours of its launch, it surpassed established players like Uniswap in terms of total fees, indicating its immediate impact and acceptance.
But what makes Friend.Tech unique? At its core, Friend.Tech operates as a decentralized social network. Here, users can trade “keys,” which were earlier known as “shares,” associated with Twitter (now referred to as X) accounts. These keys are not just mere tokens but grant access to private in-app chatrooms and exclusive content provided by the respective X user. In essence, the platform has positioned itself as “the marketplace for your friends.”
The app’s functionality is reminiscent of popular platforms like Telegram, where each user has a chat group. However, Friend.Tech brings a unique twist to this concept. To access other users’ private chatrooms, one needs to purchase keys. And if a user decides to leave the chat, they can opt to sell these keys. This innovative approach, combined with the platform’s similarities to X, makes Friend.Tech a potential game-changer in the social media domain.
Conclusion
Friend.Tech’s recent achievements serve as a beacon for what the future holds for the DeFi space. With its robust revenue figures, impressive TVL, and the success of sniper bots, the protocol is setting the stage for the next big development in decentralized finance. As the world of DeFi continues to expand, Friend.Tech’s innovative approach to social media and finance positions it at the forefront of this evolution.
