The DeSo (decentralized social) platform Friend.tech generated $1 million fees in 24 hours. With this, it has become the third largest revenue generating protocol in the crypto ecosystem.
Deployed on Base, Friend.tech is a decentralized social platform that enables buying and selling of user’s connections in fractionalized ‘shares.’ The purchase of a user’s share benefits its buyer to connect better with the ability to send them messages.
On 19th August, Friend.tech outperformed the most DeFi protocols such as Uniswap in generating fees with it reaching a volume of more than $1 million. It has also surpassed blockchain networks such as Bitcoin and Tron.
The project is also generating a significant amount in revenue. It has recorded $1.42 million in fees and $709k in revenue in the last 24 hours, according to data from DeFillama.
Friend.tech is currently in beta version with it allowing users to sign up only using invite codes. It also requires a minimum of 0.1 ETH balance to access the application. It enables
As the market continually looks for newer narratives, this new DeSo platform has become talk of the town in the crypto community as it is joined by major influencers and prominent personalities.
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