Friend.Tech’s v2 release and the anticipated FRIEND token airdrop have created a sense of excitement among users. This SocialFi dApp currently has a total value locked (TVL) of over $35 million.
Friend.Tech, a popular web3 social app, is ready to launch its v2 release today, signaling its expansion beyond Twitter. The community eagerly awaits updates on the potential FRIEND token airdrop, adding to the anticipation surrounding this SocialFi protocol.
In August 2023, Friend.Tech gained popularity on Coinbase’s L2 blockchain Base. The dApp allows users to earn points by holding and trading “keys” of X profiles. These points are likely to be synchronized with the airdrop of FRIEND tokens, further increasing the excitement.
Let’s take a quick look at Friend.Tech’s key metrics. The TVL in Friend.Tech reached $41.82 million on April 10th, amidst the anticipation for the v2 release and the possibility of a FRIEND token airdrop. However, this is lower compared to its peak in November ($47.97 million) and October ($52.04 million) last year.
Currently, the TVL stands at $34.7 million, experiencing a 16% decrease from its peak in April, according to data from DeFiLlama.
Friend.Tech has generated over $110.7 million in fees and $55.3 million in revenue, according to data from Dune. The highest level of daily fees was recorded in April, reaching $757.1K on April 8.
The number of users who have initiated at least one trade on Friend.Tech has risen to 903,837. Additionally, the protocol has processed a cumulative total of 13.46 million transactions.
The SocialFi community eagerly speculates on various price ranges for the upcoming FRIEND token, which is expected to be airdropped after the v2 release.