The world of decentralized finance (DeFi) and blockchain technology continues to push boundaries, and Friend.tech Protocol is at the forefront of this innovation. Recently, the platform achieved a major milestone by surpassing 10,000 ETH in revenue, reaching an impressive total of 10,644.8 ETH.
At the same time, the platform’s Total Value Locked (TVL) exceeded 30,000 ETH, reaching 30,165 ETH. But Friend.tech is more than just a DeFi success story; It’s a decentralized social network with a unique twist.
Friend.tech: DeFi combines social networks
Friend.tech Protocol is redefining the concept of social networks by integrating DeFi elements. At its core, the platform allows users to buy and sell “keys,” formerly known as “shares,” linked to Twitter accounts (now X). Keys grant access to private in-app chat rooms and exclusive content from the respective X users. In essence, Friend.tech markets itself as “a marketplace for your friends,” offering a new approach to social interaction.
Each user on the platform has a dedicated chat group, similar to those found on platforms like Telegram. However, it is worth noting that users must key to enter other people’s private chats. This model encourages users to invest in keys to access exclusive content and conversations, driving unique social dynamics.
Friend.tech Protocol’s meteoric rise is not only due to its innovative social network model. A significant contribution to its success has been the deployment of more than 450 “sniper bots,” automated trading tools that have earned a total of more than $5.9 million. Incredibly, these bots account for 34% of creator revenue on the platform, showing the potential of such tools in the DeFi space.
While the platform has received praise for its innovative approach to social media, its DeFi aspect cannot be overlooked. Achieving a turnover of over 10,000 ETH and a TVL exceeding 30,000 ETH is a testament to its popularity and the growing demand for DeFi solutions.
A new model in social networks
Friend.tech Protocol’s unique combination of DeFi and social networks is attracting attention from both crypto enthusiasts and social media users. It represents a paradigm shift in the way we interact with our digital communities. By encrypting access to exclusive content and chat rooms, Friend.tech is tapping into the growing trend in digital experience measurement.
The platform’s success underscores the evolving landscape of blockchain technology, where innovation knows no bounds. Friend.tech is leading the way and its journey is far from over. As it continues to grow, it could pave the way for more DeFi-infused social networks and redefine the way we connect and interact online.
In summary, Friend.tech Protocol’s remarkable achievement of surpassing 10,000 ETH in revenue and surpassing 30,000 ETH in TVL is a testament to its unique approach to social networks and its success in the DeFi space.