{"id":84268,"date":"2023-09-11T13:05:01","date_gmt":"2023-09-11T10:05:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84268"},"modified":"2025-09-12T16:20:44","modified_gmt":"2025-09-12T13:20:44","slug":"friend-techs-tvl-surges-by-13-5m-in-two-weeks","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/friend-techs-tvl-surges-by-13-5m-in-two-weeks\/","title":{"rendered":"Friend.Tech&#8217;s TVL surges by $13.5m in two weeks"},"content":{"rendered":"<p>After &#8216;clinical death&#8217; <a href=\"https:\/\/forklog.com\/en\/news\/what-is-web3\">Web3<\/a>-social network Friend.Tech is once again showing growth in activity. Since August 28, the total value locked in the protocol jumped 210% \u2014 from $6.4m to $19.95m.\u00a0<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"380\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-09-11-v-12.25.14-1024x380.png\\\" alt=\\\"Snimok-ekrana-2023-09-11-v-12.25.14\\\" class=\\\"wp-image-215508\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-09-11-v-12.25.14-1024x380.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-09-11-v-12.25.14-300x111.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-09-11-v-12.25.14-768x285.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-09-11-v-12.25.14.png 1154w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption class=\\\"wp-element-caption\\\">TVL of Friend.Tech. Data: <a href=\\\"https:\/\/defillama.com\/protocol\/friend.tech\\\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<p>According to data from the Dune dashboard, on September 9 the platform&#8217;s 24-hour trading volume was $12.32 million \u2014 the third-largest value in the project&#8217;s history. By September 11 the figure had fallen to $2.52 million.<\/p>\n<figure class=\\\"wp-block-image size-full\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-09-11-v-12.32.51.webp\\\" alt=\\\"Snimok-ekrana-2023-09-11-v-12.32.51\\\" class=\\\"wp-image-215509\\\"\/><figcaption class=\\\"wp-element-caption\\\">Daily trading volume of Friend.Tech. Data: Dune.<\/figcaption><\/figure>\n<p>The total commissions collected on Friend.Tech reached $12.14 million with 140,909 users who made at least one trade.<\/p>\n<p>Friend.Tech launched on 10 August on the Ethereum-based <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">second layer<\/a> Base, supported by Coinbase. It is a decentralised social platform integrated with X that allows tokenising participants&#8217; profiles.<\/p>\n<p>Less than three weeks after launch, the app&#8217;s activity metrics sharply declined. Commission volume and the number of transactions fell by almost 90%. At that time the community declared the project dead.<\/p>\n<p>Initially the app had numerous technical glitches and a very limited feature set. Over time the developers added a number of new capabilities, such as photo uploads, card payments, and new sections in the feed.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Signing up is even easier with our new credit card onboarding. Tell your friends who aren\u2019t familiar with crypto to check it out <a href=\\\"https:\/\/t.co\/8h9QQ6Gxju\\\">pic.twitter.com\/8h9QQ6Gxju<\/a><\/p>\n<p>\u2014 friend.tech (@friendtech) <a href=\\\"https:\/\/twitter.com\/friendtech\/status\/1698492953239400607?ref_src=twsrc%5Etfw\\\">September 4, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Likely, the uptick in activity was aided by an influx of new participants not from the crypto industry. In recent weeks, YouTube bloggers and OnlyFans content creators have shown interest in Friend.Tech.<\/p>\n<p>A spokesperson for the Web3 social network, using the alias Pancakesbrah, said that Matt Walker, a UC Berkeley neurobiology professor and the author of Why We Sleep, had joined the project.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">I love to see stuff like this bro, <a href=\\\"https:\/\/twitter.com\/sleepdiplomat?ref_src=twsrc%5Etfw\\\">@sleepdiplomat<\/a> just joined, which hammers home the point some people don\u2019t get, this isn\u2019t an app for just crypto bros, every vertical can find value on friend tech, everyone bro <a href=\\\"https:\/\/t.co\/c7EpuGQtDt\\\">pic.twitter.com\/c7EpuGQtDt<\/a><\/p>\n<p>\u2014 Pancakesbrah (actually Based) (@Pancakesbrah) <a href=\\\"https:\/\/twitter.com\/Pancakesbrah\/status\/1700961112202547227?ref_src=twsrc%5Etfw\\\">September 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\\n<\/p>\n<p>&#8220;I love to see stuff like this! Bro [Matt Walker] just joined, which underscores the point some people don\u2019t get \u2014 this app isn\u2019t just for crypto bros; every vertical can find value in Friend.Tech,&#8221; wrote Pancakesbrah. <\/p>\n<p>\\n<\/p><\/blockquote>\n<p>In August, the project team warned of possible blocks for using copies or imitators of the app. The post triggered a backlash, so the post was deleted after a few hours, and the project\u2019s co-founder, using the nickname Racer, issued an apology for the &#8216;silly statement&#8217;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After &#8216;clinical death&#8217; the Web3-social network Friend.Tech has again shown growth in activity. Since August 28, the total value locked in the protocol jumped 210% \u2014 from $6.4 million to $19.95 million.<\/p>\n","protected":false},"author":1,"featured_media":84269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1524,465],"class_list":["post-84268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-friend-tech","tag-social-media"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84268"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84268\/revisions"}],"predecessor-version":[{"id":84270,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84268\/revisions\/84270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84269"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}