- Bitcoin and Uniswap lag behind Friend.tech in fee generation.
- Over 100,000 wallet addresses and Twitter usernames leaked.
Share this article
In the last 24 hours, Friend.tech, a social app built on Base, surpassed Uniswap and Bitcoin in fees generated but then leaked wallet addresses and Twitter usernames of over 100,000 users.
Friend.tech, the recently launched web3 social app that allows fans to buy and trade tokenized shares of creators and influencers, generated $1.42 million in protocol fees in just 24 hours. Friend.tech is the top 3 protocol by fees generated, only behind Ethereum and Lido Finance, according to data from DefiLllama.
Despite still being in closed beta phase where users need an invitation code to join, Friend.tech has already signed up over 108k unique users who have completed around 1.3 million transactions since its launch on August 10th. Within this short span, Friend.tech has generated fees totaling $4.22 million including $2.11 million in revenue.
The total value of Friend.tech’s shares is roughly $8 million based on the FRIEND index, which tracks the value of all shares divided by one million.
However, it hasn’t been all smooth sailing for Friend.tech. Today, Banteg, the core developer of Yearn, unveiled a repository that exposes wallet addresses on Base and linked Twitter usernames for over 101,000 individuals—raising questions about the app’s ability to protect user data amid privacy concerns.
On a positive note for the platform, the project announced a seed investment from renowned venture firm, Paradigm last week. The exact investment amount wasn’t revealed.
Some of Friend.tech’s high-profile users include Y Combinator’s CEO Garry Tan, NBA player Grayson Allen, and FaZe Clan’s co-founder Richard “FaZe Banks.”
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
Published at Mon, 21 Aug 2023 19:00:55 +0200