Friend.tech generates over $1M fees in 24h, surpassing Uniswap, Bitcoin networks
The platform was launched in beta version on Aug. 11 and allows users to tokenize their social network by buying and selling “shares” of their connections. Friend.tech, a recently released decentralized social (DeSo) network , has generated over $1 million in fees in 24 hours on Aug. 19, outperforming established players in the crypto ecosystem, including Uniswap and Bitcoin networks . The platform was launched in beta version on Aug. 11 and allows users to tokenize their social network by buying and selling “shares” of their connections. Enabling a person who purchases another's share to send private messages to each other. The protocol reportedly charges a 5% fee on transactions, with the spread from trades representing the owner's profit. Built on Coinbase's layer-2 Base, the platform has seen considerable activity. According to data from DefiLlama, Friend.tech generated $1.12 million in fees in 24 hours, and $2.8 million since its launch. At the time of writing, the ...