FriendTech developers rake in nearly $20 million since August launch

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By BitcoinWiki News

Key Takeaways:

– The development team behind FriendTech has generated nearly $20 million in revenue since going live in just a few months.
– FriendTech is a platform that allows users to link their Twitter accounts and trade influencer profile tokens using ETH on the Base network.
– The project is the largest revenue-generating app on Base and the second-largest in crypto overall, on track to generate $180 million in annual revenue.
– The platform has generated around $40 million in fees from users, with half going to the project team and half distributed to users.
– Clone apps have emerged, but FriendTech remains the top project in the SocialFi niche.
– The number of unique users has decreased since late September.
– The pseudonymous founder of FriendTech has made over $440,000 from the platform separately.
– The platform has faced security challenges and has introduced an option for users to switch from phone numbers to emails due to SIM swap attacks.
– Several incidents of SIM swap attacks have resulted in losses for users.


FriendTech, a social protocol platform, has generated nearly $20 million in revenue since its launch in August. It allows users to link their Twitter accounts and buy or sell influencer profile tokens with ETH on the Base network. The project is the largest revenue-generating app on Base and the second-largest in the crypto space, on track to generate $180 million in annual revenue. The platform has generated $40 million in overall fees, with 10% of trading volume taxed. Half of this fee goes to the project’s team and the other half is distributed to users. However, the number of unique users has dropped since September. The founder of FriendTech has earned over $440,000 separately. The platform has faced security challenges, including SIM swap attacks on its users, resulting in losses of ETH.

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