We collect cookies to analyze our website traffic and performance; we never collect any personal data.Cookies Policy
Accept
Michigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
Reading: FriendTech now a ghost city as revenues fall 99.9%
Share
Font ResizerAa
Michigan PostMichigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
© 2024 | The Michigan Post | All Rights Reserved.
Michigan Post > Blog > Crypto & Web 3 > FriendTech now a ghost city as revenues fall 99.9%
Crypto & Web 3

FriendTech now a ghost city as revenues fall 99.9%

By Editorial Board Published September 4, 2025 2 Min Read
Share
FriendTech now a ghost city as revenues fall 99.9%

FriendTech was as soon as the most well-liked utility on Base, Coinbase’s Ethereum-based layer 2 blockchain. It allowed bets on the recognition of Twitter (now X) crypto influencers that FriendTech duplicated onto its platform.

It was, in essence, a BitClout (now Decentralized Social) copycat.

At its September 2023 peak in reputation — one month after Coinbase launched its Base mainnet — FriendTech generated over $1 million per day in charges.

As we speak, that very same protocol has earned lower than $60 prior to now 24 hours in response to information from DefiLlama.

FriendTech marketed “shares” in influencers’ profiles that it rapidly renamed “keys” to keep away from regulatory points. Keys have been bets on FriendTech profiles, and most of the people purchased them in hopes of earning profits.

Only a few did.

Since October 2023, the entire worth locked (TVL) of FriendTech property has declined 91% from $52 million to $4.5 million at the moment. 

Much more embarrassingly, charges earned by the protocol over the past month complete lower than $5,000. Its annualized payment charge is down 99.9% from $180 million in fall 2023 to $60,000 at the moment.

The worth of the venture’s proprietary token, FRIEND, is down 98% from its all-time excessive.

Somewhat than permit early customers to invest on the value of early FriendTech keys, the platform “bonded” them to a mathematical curve set by a quadratic algorithm that assured very early purchasers paid lower than subsequent purchasers.

For a prescribed size of time, keys might solely commerce on this up-only bonding curve.

Ultimately, value controls lapsed and virtually all keys fell in worth. In 2023, quite a few influencers promoted the alternative for FriendTech keyholders to learn financially.

Once more, few of them ever did.

TAGGED:FallFriendTechghostrevenuesTown
Share This Article
Facebook Twitter Email Copy Link Print

HOT NEWS

All the things it is advisable find out about being a political celebration member

All the things it is advisable find out about being a political celebration member

Politics
September 5, 2025
Dodgers are dominated by Paul Skenes as Pirates full three-game sweep

Dodgers are dominated by Paul Skenes as Pirates full three-game sweep

PITTSBURGH — The Dodgers had already missed two alternatives to develop their Nationwide League West division lead…

September 5, 2025
Pygmy hippo calf born at John Ball Zoo in Michigan

Pygmy hippo calf born at John Ball Zoo in Michigan

GRAND RAPIDS, Mich. (WOOD) — It’s right here! The John Ball Zoo in Grand Rapids,…

September 5, 2025
Katie Lowes Talks ‘Looking Wives,’ Shondaland and Sunscreen

Katie Lowes Talks ‘Looking Wives,’ Shondaland and Sunscreen

Together with her magnetic display presence and a faithful fanbase from her breakout function on Scandal,…

September 5, 2025
Reform convention will get underneath approach – as Farage returns from Trump assembly

Reform convention will get underneath approach – as Farage returns from Trump assembly

Farage-led occasion conferences was comparatively ramshackle affairs.The 2013 UKIP gathering noticed then MEP Godfrey Bloom…

September 5, 2025

YOU MAY ALSO LIKE

Camel Coat Blond is Your Refined, Wealthy Woman Shade for Fall

Whereas the little ones return to highschool and school drop-off season will get into full swing, the remainder of us…

Fashion / Beauty
September 5, 2025

Scoop: Bitfinex, Tether shareholder Harborne is Nigel Farage’s prime donor

Bitfinex and Tether shareholder Christopher Harborne — or Chakrit Sakunkrit when he’s in Thailand — has turn into the primary…

Crypto & Web 3
September 5, 2025

The Brief Nail Concepts for Fall We’re Saving for Our Subsequent Mani

Typically it could really feel like the one possibility for brief nails is a strong colour manicure, particularly with regards…

Fashion / Beauty
September 4, 2025

Justin Solar defends HTX whereas it lends 92% of its USDT on Aave

Justin Solar has taken to X to defend HTX’s reserves and the curiosity it could afford to pay customers. Solar…

Crypto & Web 3
September 4, 2025

Welcome to Michigan Post, an esteemed publication of the Enspirers News Group. As a beacon of excellence in journalism, Michigan Post is committed to delivering unfiltered and comprehensive news coverage on World News, Politics, Business, Tech, and beyond.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 | The Michigan Post | All Rights Reserved

Welcome Back!

Sign in to your account

Lost your password?