Friend.tech Exceeds $50M TVL, Revenue Hits 10,000 ETH

The fastest growing DeSo protocol Friend.tech has reached over $50 million in TVL and $17 million in revenue since its launch on August 10.
Friend.tech

A $50 million total value locked (TVL) milestone has been surpassed by the well-known decentralized social platform Friend.tech, and its revenue has surpassed 10,000 ETH.

The DeSo protocol currently has a TVL of $52 million, rising steadily since its introduction, according to data from DeFiLlama. Since its August 10 launch, Friend.tech has received $1 million in fees.

According to data from a Dune dashboard, Friend.tech has also reported total earnings of over 10,727 Ether (ETH), or almost $17.6 million. Additionally, the dashboard shows that the protocol is almost at 10 million transactions.

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Friend.tech Dashboard – Dune Analytics

Since its inception, Friend.tech has been moving forward riskily, experiencing a database vulnerability, receiving criticism from the public because of a founder’s note, and achieving $20 million in TVL shortly after being declared dead.

A number of clones, such Friendzy on Solana and Alpha on Bitcoin, have also been established on several chains in response to the popularity of the revolutionary decentralized social application from Friend.tech.

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