A game-changing social network. Since July, Baseon L2 developed by Coinbase continues to be the talk of the town. Indeed, this new Eldorado for investors continues to attract more and more users. Initially attracted by memecoins, thecraze has since pivoted to the social network Friend.tech.
Friend.tech: the platform behind the Base craze
Friend.tech is a social network hosted on the Base blockchain. Only available on mobilethe application lets users link their X account (Twitter) to a Base address generated for the occasion. The network’s aim is to make it possible to community monetization.
Friend.tech’s ability to attract users is based on its profile trading. Indeed, each user can create shares (shares) linked to its profile. These can then be bought and sold on the site’s marketplace.
Once a share has been purchased, the user becomes a shareholder in another user’s profile. This gives them access to exclusive content as well as private chats.
Unsurprisingly, the platform’s traffic exploded after the arrival of numerous Twitter accounts at the tens of thousands of followers on X (Twitter). And we understand them. The latter can recover 5% fee on each unit exchanged.
Since the release of the beta, the platform has recorded 65,000 unique share traders. These traders generated a total of 26 million dollars in volume. According to the DefiLlama website, Friend.tech generated 1.42 million in fees over the last 24 h. This puts the protocol in third place behind Ethereum and Lido. And that’s just the beginning!
By way of comparison, the protocol had generated $2.99 million in fees over the past week. A record that will probably be beaten hands down at the end of this week, given the platform’s daily results.
It’s worth noting that many Internet users pointed out the « ponzie » nature of the platform. Conclusion: use platform at your own risk.
An explosion in the cost of shares makes it possible to win big
Obviously, the Friend.tech craze has led to an explosion in the cost of shares. shares of certain influencers. For example, Faze Banksthe influencer with 2.7 million followers on Twitter, has 134 shareholders on Friend.tech and its shares are currently trading at around 2.5 ETH. For its part, Cobie and its 738,000 followers on Twitter brought together 157 shareholders for shares trading at around 2.4 ETH.
At the same time, some users have found surprising ways to grow their community and reward their shareholders. Here are just a few examples, David Hoffmanan Ethereum evangelist, has set up a contest allowing one of its shareholders to recover all trading costs earned by Hoffman during the last week.
So, on Sunday, the shareholder drawn at random won the modest sum of 3.12 ETHor just over 5,000 dollars.
Unfortunately, not all Layers 2 launches are as successful as Base. Last week, the Shiba project launched Shibariumhis own L2. However, a bug in the bridge linking L2 to Ethereum led to the loss of $1.7 million. A dramatic situation that has largely shattered user confidence.
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