• Home
  • Cryptocurrency
  • Unleashing the Power of Decentralized Networking: Friend.tech's Rise, Bots, and Beyond

Unleashing the Power of Decentralized Networking: Friend.tech's Rise, Bots, and Beyond

Jack Evans
Aug 25, 2023 at 11:54 am

The digital landscape evolves ceaselessly, birthing new possibilities and challenges alike. Among the revolutionary strides, Friend.tech, the decentralized social media phenomenon, has emerged as a beacon of promise, fostering connections through an Ethereum (ETH) layer-2 platform. Latest insights reveal Friend.tech's substantial contribution, representing over 20% of active addresses on Base, a prominent ETH layer-2 ecosystem.

However, the evolving narrative takes an intriguing twist as automated bots take center stage. According to meticulous data crafted by Tom Wan, Dune's compilation showcases a remarkable ascent. Over the past fortnight, these coded agents have impressively seized 21,800 keys, translating to a staggering $2.1 million in earnings. Their modus operandi involves acquiring nascent profiles at a nominal cost, subsequently orchestrating profitable sales.

Of particular note is the bot with the cryptic identifier "0xcc218bbd21e14944fcc121d161c9b9ae71b9cc85," amassing an astounding 96 profiles – an ensemble almost valued at 260 Ethereum (ETH), approximating $600,000 in gains. The astonishing metrics continue as these bots orchestrate an impressive 500,000 transactions.

Friend.tech, since its inception on August 10, has manifested as a paradigm-shifting entity. It empowers users to acquire "shares" of individuals across X, a reimagined Twitter landscape. Its growth has been nothing short of meteoric, with a staggering 100,000 addresses already engaged.

Further analytics from Dune unveil a captivating tale of cumulative success, as Friend.tech orchestrates over 45,000 ETH (equivalent to $70 million) in transaction volumes, stemming from a colossal 2 million transactions.

The present echoes with a crescendo of achievement as DeFiLlama data unfolds Friend.tech's lucrative symphony. Over the last 24 hours, the platform garnered an impressive $300,000 in fees, materializing into a noteworthy revenue of $161,000.

Notably, voices of industry luminaries lend their resonance to Friend.tech's journey. Coinbase CEO Brian Armstrong lauds its potential as a pivotal player in the expansive realm of Base's growth and adoption. Dune Analytics' robust data mirrors this synergy, revealing an impressive 20% engagement between active Base addresses and Friend.tech.

In tandem, Circle's CEO Jeremy Allaire extols the compelling use case that Friend.tech embodies within the BusinessSocialFi sphere. Its ingenious model permits users to tokenize their social connections, endowing them with privileges like private messaging and interaction rights. However, as the platform's allure soars to new heights, it inadvertently attracts the attention of digital marauders.

Like the phoenix of the digital era, Friend.tech soars ever higher, offering a tantalizing glimpse into the decentralized future. As bots and brilliance converge, a narrative unfolds—one of innovation, triumph, and a continuous pursuit of possibilities. Amid challenges, Friend.tech forges ahead, a testament to the dynamic potential that the blockchain landscape holds. Its saga reminds us that the tapestry of progress is woven with both threads of success and challenges, creating a compelling narrative that captures our imagination and propels us into an exciting era of decentralized connectivity.

Related News

Sign up for daily crypto news in your inbox

Get crypto analysis, news and updates right to your inbox! Sign up here so you don't miss a single newsletter.