{"id":4960,"date":"2023-10-08T14:35:47","date_gmt":"2023-10-08T14:35:47","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=4960"},"modified":"2023-10-08T14:35:47","modified_gmt":"2023-10-08T14:35:47","slug":"friendtech-developers-earned-20-million-dollars","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/friendtech-developers-earned-20-million-dollars\/","title":{"rendered":"FriendTech Developers Earned 20 Million Dollars!"},"content":{"rendered":"<p><strong>FriendTech <\/strong>has generated revenue of about <strong>20 million dollars<\/strong> in just a few months since its launch.<\/p>\n<p>The team of FriendTech launched it in August. The app is a platform that allows users to connect their Twitter accounts and facilitates the buying or selling of impressive profile tokens with <strong>ETH<\/strong> on <strong><a href=\"https:\/\/coinengineer.net\/blog\/what-are-layer-2-crypto-protocols\/\" target=\"_blank\" rel=\"noopener\">Layer 2<\/a> network Base<\/strong> backed by <strong>Coinbase<\/strong>.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/friendtech-developers-earned-20-million-dollars\/#FriendTech_Has_Become_the_Best_SocialFi_app_on_the_market\" title=\"FriendTech Has Become the Best SocialFi app on the market.\">FriendTech Has Become the Best SocialFi app on the market.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/friendtech-developers-earned-20-million-dollars\/#Security_Issue_for_Users\" title=\"Security Issue for Users\">Security Issue for Users<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FriendTech_Has_Become_the_Best_SocialFi_app_on_the_market\"><\/span><span style=\"font-size: 90%;\">FriendTech Has Become the Best SocialFi app on the market.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to <strong>DeFiLlama<\/strong> data, the project is the highest revenue generating app on <strong>Base<\/strong> and the best <a href=\"https:\/\/coinengineer.net\/blog\/mega-bull-in-socialfi-applications\/\" target=\"_blank\" rel=\"noopener\"><strong>SocialFi<\/strong><\/a> app on the market with a volume of <strong>45 Million Dollars<\/strong> and projects annual revenue of <strong>180 million dollars<\/strong> at this pace.<\/p>\n<p>So far, the platform has generated a revenue of <strong>40 million dollars<\/strong> from its users. The developers generate this revenue by taxing approximately <strong>10% of the transaction volume<\/strong> of social tokens. Half of this total fee is distributed as revenue to the project team, while the other half is distributed to users who have swapped their shares.<\/p>\n<p>So far, there have been many apps similar to <strong>FriendTech<\/strong> causing a decrease in its volume. The hacking of <a href=\"https:\/\/coinengineer.net\/blog\/stars-arena-lost-2-9-million-due-to-hack-attack\/\" target=\"_blank\" rel=\"noopener\"><strong>Stars Arena<\/strong><\/a> (SocialFi app) that becomes popular previous days did not affect the marketplace badly. Thus, <strong>FriendTech<\/strong> still retains its leadership on the top of the list.<\/p>\n<p>Besides, FriendTech&#8217;s founder <strong>&#8216;0xRacer&#8217;<\/strong> generated a revenue of <strong>$20 million<\/strong> along with more than <strong>$440,000<\/strong>\u00a0of revenue apart from the platform.<\/p>\n<blockquote><p><span style=\"font-size: 110%;\">Related: <a href=\"https:\/\/coinengineer.net\/blog\/can-friend-tech-project-be-fake\/\" target=\"_blank\" rel=\"noopener\"><em><strong>Can Friend.Tech Project Be Fake?<\/strong><\/em><\/a><\/span><\/p><\/blockquote>\n<h3><span class=\"ez-toc-section\" id=\"Security_Issue_for_Users\"><\/span>Security Issue for Users<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The platform recently encountered difficulties in terms of user security and carried out improvements on this issue. After numerous <strong>SIM<\/strong> swapping attacks aimed at users, the project offered users to switch from phone numbers to <strong>e-mails<\/strong>.<\/p>\n<hr \/>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our <a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n<div class=\"blog-share text-center\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FriendTech has generated revenue of about 20 million dollars in just a few months since its launch. The team of FriendTech launched it in August. The app is a platform that allows users to connect their Twitter accounts and facilitates the buying or selling of impressive profile tokens with ETH on Layer 2 network Base<\/p>\n","protected":false},"author":1,"featured_media":4959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[151,1815,106,1009,196,1460,1772],"class_list":["post-4960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-coinbase","tag-defillama","tag-eth","tag-friendtech","tag-layer-2","tag-socialfi","tag-stars-arena"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FriendTech Developers Earned 20 Million Dollars! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"FriendTech that has caught the recent hype, has generated revenue of about 20 million dollars in just a few months since its launch.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/friendtech-developers-earned-20-million-dollars\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FriendTech Developers Earned 20 Million Dollars! 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