Bitcoin

SocialCoin

Key Points:<ul><li>&#x1f4c8; Generated $1M&#43; in 24h, overtaking Uniswap &amp; Bitcoin networks.</li><li>&#x1f4a1; Tokenizes social connections via share trading.</li><li>&#x1f512; Built on Coinbase&#39;s layer-2 Base, targeting crypto influencers.</li></ul>Friend.tech, a decentralized social (DeSo) network that launched in beta on August 11th, has demonstrated remarkable performance by <a href="https://defillama.com/fees" rel="noopener noreferrer nofollow">generating over $1 million in fees</a> within a 24-hour period on August 19th. This achievement surpasses well-established players in the crypto landscape, including Uniswap and the <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin</a> network.The platform&#39;s unique concept enables users to tokenize their social connections by trading &#34;shares&#34; linked to these connections. This functionality allows purchasers of these shares to communicate privately with the person whose share they acquire. The protocol follows a<a href="https://twitter.com/MentionLux/status/1690295547486478336" rel="noopener noreferrer nofollow"> transaction fee structure of 5%</a>, with the difference between trade prices serving as the owner&#39;s profit.Leveraging Coinbase&#39;s layer-2 Base technology, Friend.tech has enjoyed considerable user engagement. According to data from DefiLlama, the platform garnered $1.12 million in fees during a 24-hour period and has accumulated a total of $2.8 million since its inception. As of now, the project has accrued $818,620 in revenue, <a href="https://dune.com/austin_adams/friendstech-dashboard" rel="noopener noreferrer nofollow">facilitated over 650,000 transactions</a> on its social platform, and engaged more than 60,000 distinct traders.<blockquote>Join us on <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a> and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> for the latest insights and discussions in the world of crypto.</blockquote>The post <a href="https://cryptosnewss.com/decentralized-social-network-friend-tech-surpasses-1m-in-fees-within-24-hours/" rel="noopener noreferrer nofollow">Decentralized Social Network Friend.tech Surpasses $1M in Fees within 24 Hours</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">CryptosNewss</a>.

Decentralized Social Network Friend.tech Surpasses $1M in Fees within 24 Hours

Cryptos Newss

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