Friend.tech Developer Pocket-ins $20M From Protocol In Last Two Months

Developer team behind Friend.tech has made over $20 million of revenue within just two months of protocol’s launch.
Friend.tech Developer Pocket-ins $20M From Protocol In Last Two Months
Friend.tech Developer Pocket-ins $20M From Protocol In Last Two Months

Within two months of its inception, Friend.tech’s pioneering SoFi technology made $20 million for its creators.

Since its inception in August, Friend.tech has taken the lead and controlled the SoFi primitive, earning a sizable sum in total fees. According to DeFiLlama data, the protocol has amassed over $370 million in annualized fees.

Friend.tech, which was introduced on Base, allows users to tokenize their onchain profiles in keys that other users can buy to access their contacts and other special advantages.

In just two months, the trafficking of profile keys has brought in an astounding $40 million in fees. 10% of each key-related purchase or sale is deducted in order to pay the fees. The user whose key is traded receives 50% of the total payments, while the remaining 50% is used as revenue for the project.

It currently ranks third after Tron and Ethereum in terms of revenue generated over the last 30 days, at $15.3 million.

Read Also: Friend.tech Users Lose $385K in ETH in SIM-Swap Attack

More From The Kangaroo Times

Total
0
Shares
Related Posts
Total
0
Share