Friend․tech Offloads Assets
Decentralized social network Friend․tech has moved almost half of its earned fees ($16.6 million) to Coinbase. This move is seen as a response to lackluster user engagement on the platform, which is a key revenue generator.
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Decentralized social network Friend․tech has moved almost half of its earned fees ($16.6 million) to Coinbase. This move is seen as a response to lackluster user engagement on the platform, which is a key revenue generator.
This downward trend is evident in several aspects: the Base blockchain is barely active, there's a stark decrease in new user sign-ups, and the project's TVL is on a continuous decline, currently at 15,000 ETH ($33 million). In contrast, during its peak popularity, the TVL remained around 30,000 ETH ($50 million).
For more insights into Friend․tech, refer to our dedicated article.
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