Since its beta version launch on August 11, Friend.tech, a decentralized social media app built on Coinbase's layer-2 network Base, has gained over 64,000 new users and more than 24,000 ETH in trading volume.

Friend.tech, a decentralized social network, has generated over $1 million in fees within 24 hours of its launch, outperforming established players like Uniswap and Bitcoin networks. The platform enables users to tokenize their social network by buying and selling "shares" of their connections, with a 5% fee charged on transactions. <br>

The founder of SlowMist, Yu Xian, stated on social media that whether it is Unibot on Telegram or friend.tech on the Base chain, the private keys are centrally hosted. It is technically possible to achieve self-hosting of private keys, but the user experience is not yet mature.

According to Dune data, the total transaction volume of friend.tech reached 11345.3 ETH, the protocol income reached 515.7 ETH, and the total user market value reached 5736.2 ETH. Earlier, friend.tech tweeted that it had completed seed round investment with participation from Paradigm.

friend.tech tweeted that it had distributed first Friday points to 44,000 users. In addition, during the six-month testing phase, 1 billion points will be distributed, with each airdrop taking place on Fridays. The points will be recorded off-chain and will have a special purpose after the testing phase ends.

Friend.tech announced on social media that it has completed its seed round of investment with participation from Paradigm. Earlier this year, friend.tech collaborated with Paradigm to build a new online social interaction tool and is grateful for the community's enthusiasm. They are excited to continue growing together.

On August 15th, friend.tech officially announced that it will start airdropping reward points to its application test users from this Friday. During the testing period, these points will be collected off-chain and will have special uses after the application is officially released. One billion points will be distributed in the next six months.

Friend.Tech, a decentralized social media app, has gained attention after reportedly conducting 100,000 transactions in a single day. The app allows users to buy and sell "shares" of crypto personalities, granting access to private chats with those individuals. <br>