Friend.Tech: The Platform That Lets You Trade Twitter Accounts Like Stocks. Here Are 6 Reasons Why You Should Get on Board

Friend.Tech is a platform that allows users to trade shares of Twitter accounts hosted on the platform. Users can buy and sell shares known as keys, of their favorite influencers, celebrities, or projects, and earn profits from their price movements. Friend.Tech is built on Base, a layer-2 scaling solution for Ethereum that enables fast and cheap transactions.

Friend.Tech has generated a lot of buzz in the crypto space since its launch in July. In just two weeks, it has generated over $36 million in fees, over $40 million in trading volume, and over $1 million in daily fees. It has also attracted the attention of some prominent investors, protocols, and bots that have built on top of it or integrated with it.

But is Friend.Tech just a hype that will die off soon? Or is it a trend that will continue to grow and innovate? In this article, we will explore seven unbiased facts about Friend.Tech that no one is telling you.

1. Friend.Tech is backed by Paradigm

Paradigm is one of the most influential and reputable venture capital firms in the crypto space. It has invested in some of the most successful and innovative projects in the industry, such as Uniswap, Compound, MakerDAO, Optimism, and dYdX.

Paradigm invested in Friend.Tech during its seed round in Q1 of 2023, along with other notable investors such as Electric Capital, Dragonfly Capital, and Coinbase Ventures. This shows that Friend.Tech has a strong backing from some of the best minds and funds in crypto.

Paradigm has also been known to back projects that have launched generous airdrops to their early users. For example, dYdX airdropped $20K worth of tokens to its users in September 2022, Ribbon Finance airdropped $70K worth of tokens to its users in November 2022, and Blur Network airdropped $10K-$50K worth of tokens to its users in January 2023.

While Friend.Tech has not announced any plans to launch a token or an airdrop yet, it is possible that it may do so in the future. And if it does, it could be one of the biggest and most lucrative airdrops in crypto history.

2. Friend.Tech has spawned several protocols and bots

One of the signs of a successful and innovative platform is the number and quality of protocols and bots that are built on top of it or integrated with it. Friend.Tech has already seen several such projects emerge in just two to three weeks since its launch.

Some examples are:

• RealFriend Tech: This is a sniper bot that allows users to buy keys of new accounts as soon as they are listed on Friend.Tech. To access this bot, users need to hold at least one key of @iam4x, one of the most popular accounts on Friend.Tech.

• Wrapped FriendToken: This is a protocol that allows users to trade wrapped versions of keys on Base’s decentralized exchange (DEX). This enables users to access more liquidity and trading pairs for their keys.
• Hyperliquid: This is a protocol that allows users to leverage trade keys on Friend.Tech. Users can long or short keys with up to 5x leverage and earn profits from their price movements.

These protocols and bots show that there is a lot of demand and innovation around Friend.Tech. They also create more use cases and value for the platform and its users.

3. Friend.Tech is creating a new narrative for SocialFi

SocialFi is a term that refers to the intersection of social media and DeFi. It aims to create new ways for users to monetize their social capital, influence, and engagement.

Friend.Tech is one of the first and most successful platforms that embody the SocialFi concept as it allows users to trade shares of Twitter accounts as if they were stocks or tokens. Friend.Tech users can earn passive income by holding or staking keys in liquidity pools.

Friend.Tech is doing what many NFT platforms have been trying to do for a long time: creating a market for social assets. However, unlike NFTs, which are often illiquid and subjective in value, keys are fungible and market-driven in price.

Friend.Tech is creating a new narrative for SocialFi that could attract more users and investors to the space. It could also inspire more platforms and projects to explore new ways to leverage social media and DeFi.

4. Friend.Tech is built on Base

Base is a layer-2 scaling solution for Ethereum that enables fast and cheap transactions. It uses zk-rollups, a technology that aggregates multiple transactions into one proof that is verified on the Ethereum blockchain.

Base launched its mainnet in July 2023, around the same time as Friend.Tech. Since then, it has seen a rapid growth in its total value locked (TVL), which reached over $170 million in August 2023. It has also attracted several protocols and projects that have built on it or integrated with it, such as Friend.Tech, Wrapped FriendToken, Hyperliquid, and LootBoy.

Base is one of the most promising and user-friendly scaling solutions for Ethereum. It offers a seamless experience for users who want to access DeFi applications without paying high fees or waiting for long confirmation times. It also offers a fertile ground for developers who want to build innovative and scalable applications on Ethereum.

Friend.Tech is one of the first and most popular platforms that are built on Base. It showcases the potential and benefits of Base as a layer-2 solution. It also creates more demand and value for Base and its native token, BASE.

5. Friend.Tech has partnered with LootBoy

LootBoy is one of the most popular and successful Telegram bots in the crypto space. It allows users to automate various tasks and actions on DeFi platforms, such as farming, staking, swapping, and sniping.

LootBoy announced its partnership with Friend.Tech in August. It allows users to automate buying and selling keys on Friend.Tech using LootBoy’s bot. It also allows users to snipe keys of new accounts as soon as they are listed on Friend.Tech.

LootBoy is one of the most trusted and widely used Telegram bots in crypto. It has over 100,000 users and supports over 20 platforms, such as Uniswap, SushiSwap, Aave, Compound, and Curve. It has also launched its own token, LOOT, which has seen a significant appreciation in price since its launch.

LootBoy’s partnership with Friend.Tech is a win-win situation for both platforms. It increases the exposure and adoption of Friend.Tech among LootBoy’s users. It also enhances the functionality and utility of LootBoy’s bot for Friend.Tech’s users.

6. Friend.Tech has a diverse and engaged community

Friend.Tech has a large and active community of users, investors, developers, and influencers. It has over 50,000 followers on Twitter, over 20,000 members on Telegram, and over 10,000 users on Discord.

Friend.Tech’s community is also diverse and engaged. It consists of people from different backgrounds, regions, interests, and preferences. It also features some of the most influential accounts in crypto, such as Paradigm, Loot, Coinbase, and Hyperliquid.

Friend.Tech’s community is one of its biggest strengths and assets. It creates a positive and supportive environment for the platform and its users. It also generates a lot of buzz and feedback for the platform and its features.

Takeaway

Friend.Tech is not just a hype that will die off soon. It is a trend that will continue to grow and innovate. It is one of the most exciting and promising platforms in crypto that you should not miss out on.

This is a fact: From my experience in the crypto space → Narratives Turn to Trends → Trends come and go

But don’t be the one who just watches. Being early in DeFi is being profitable and you’re still early IMO.