Over the past 24 hours, the Friendtech protocol has generated over $1.42 million in fees, surpassing major DeFi protocols like Uniswap as well as Bitcoin. Friendtech’s fee income reached 1,383 ETH, with total transaction volume on the protocol hitting 30,425 ETH.
This makes Friendtech the second highest earning protocol in terms of fees, trailing only Ethereum itself. Friendtech, a social decentralized application (dapp) built on Coinbase’s Base layer-2 network, has seen significant growth and usage, according to data from analytics provider Dune.
The platform has facilitated around 1,111,277 transactions to date, with a total historical volume of approximately 30,425 ETH. Friendtech currently has 68,000 active buyer addresses, with an estimated total friend value of 11,832 ETH.
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Show more +Having received backing from notable crypto investor Paradigm during its seed funding, Friendtech is positioned for further adoption in the coming months. The dapp has an interesting incentive plan to distribute 100 million points over a 6-month beta period, including weekly airdrops.
As Base continues enabling development and adoption, Friendtech stands out for its impressive achievements so far in the evolving cryptocurrency landscape. The project demonstrates the potential for dapps leveraging the scalability of layer-2 platforms. With strong usage metrics and Paradigm’s support, Friendtech seems primed for continued growth on Base.
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