The cryptocurrency exchange Coinbase has launched the L2 public chain Base based on Optimism technology. Its mainnet was officially launched on Wednesday (9th), and its lock-up volume (TVL) and users have also continued to rise since the launch.
According to data from Dune Analytics, the number of daily active users of the Base mainnet exceeded 100,000 in just two days after its launch, and hit a record of 136,000 daily active users yesterday (10). And L2beats shows that Base's TVL has risen to $169 million, an increase of more than 80.36%.
Further reading: How much does it cost to issue a "meme coin" on Base?
Decentralized social platform friend.tech explodes
It is worth mentioning that the ecological surge of the Base chain is likely to have a lot to do with the explosion of the decentralized social platform friend.tech.
How popular is friend.tech? Data from Dune Analytics shows that in less than a week, the transaction volume of Friend.tech on the Base chain has exceeded 2,000 ETH, reaching 2,621.2 ETH by the time of writing (over $4.8 million at current prices).
On the other hand, the current on-chain transaction volume is 75,392, and the generated protocol fee is 113.5 ETH. In the early morning of this (11th), the service was even temporarily suspended due to too many users in a short period of time.
What is friend.tech?
According to the introduction, friend.tech is a decentralized social platform. By binding with Twitter (now renamed X), users can purchase any user’s share (Share) on friend.tech through the ETH on the Base chain. Get the right to chat directly with them, and potentially earn money from it.
To put it simply, each account corresponds to a wallet address of the Base chain, and each account is a Share that can be bought and sold:
- If other users buy your account tokens, you can get a share from the transaction ;
- If you purchase account tokens of other users, you can enter the private chat room of the purchased person, and the user can see all the messages in the chat room.
It should be noted that because the Twitter name can be repeated, users need to "double check" when buying shares, otherwise it is very likely to buy shares from people with "fake names". Currently, users can check by clicking on the user's Twitter bird logo.
However, after completing the registration, the user needs to fill in the "invitation code" to obtain the right to use, and the current invitation code can be said to be hard to find, and can be sent to others by registered users.
In fact, social products similar to friend.tech are not the first time. As early as 2021, Nader Al-Naji released the decentralized social product BitClout, and at that time, it was backed by investment from top institutions such as Sequoia Capital and A16z , which attracted the attention of the entire community as soon as it was launched.
Further reading: $170 million in BTC raised! Community Token BitClout Was Accused of Scams
