Income for Friend.tech Protocol Surpasses 3,000 ETH, TVL Exceeds 12,000 ETH

The trading volume on friend.tech has reached 76,704.6 ETH, with a cumulative protocol income of 3,486 ETH, and the current total user value locked (TVL) stands at 20,940.35 ETH.

According to Dune data, on September 9th, friend.tech witnessed a net inflow of 4,059 ETH, marking a new single-day high. The current Total Value Locked (TVL) has surged beyond 12,000 ETH, reaching 12,359 ETH (approximately $20.13 million USD).

On September 9th, the trading volume on friend.tech experienced a significant spike, reaching $12.32 million USD, generating fees of $1.2 million USD, which is the highest since August 21st.

Furthermore, friend.tech has cumulatively distributed $5.75 million USD in earnings to creators.

Friend.tech is a social protocol built on the BASE chain and has received investment from the renowned institution Paradigm. Friend.tech allows users to join or purchase shares (referred to as “Keys” within the protocol) in an already onboarded Key Opinion Leader (KOL) to facilitate communication with the corresponding KOL. Keys can be bought and sold, and their price is determined by the formula: Price = S^2/16,000 * 1 ETH (where S is a positive integer). When users sell Keys, a 10% fee is charged, with 5% going to the platform as revenue and the remaining 5% going to the KOL.

Friend.tech has garnered attention due to the presence of multiple renowned KOLs, investments from reputable institutions, and its unique blend of social and financial attributes. Its distinctive economic model and popularity have consistently placed it at the forefront in terms of protocol income. According to Defillam data, in the past 24 hours, Friend.tech's income reached 1.23 million USD, ranking third and surpassing many well-known protocols such as Opensea and Lido.

Opinions about friend.tech on the web are mixed, with the more dominant view being that friend.tech is a Punjabi model with an unsustainable economic cycle. For the time being, however, friend.tech is at the top of the network in terms of discussion and agreement revenue, and deserves attention.