Per recent data, Friend.tech, a social application built on top of the Base Layer 2 network, reaped about $10,684 in ETH in less than two months.

A look at charts provided by Dune Analytics paints a picture of an escalating growth trend in the revenues tied to the Friend.tech network since it was created on August 10, when Friend Tech began recording actual activities.

Friend.tech Sees Growth in Revenue

After about one month of activity, on September 9, Friend.tech cracked the $5 million mark in revenue. The first month’s growth was slow compared to the second one, which began on September 10.

Today, as the leaves of October begin to fall, the cumulative revenue exceeds $18.4 million, testifying to the speedy growth of the platform in recent days.

As per the reports and data, sniper bots in the Friend.tech world are winning big in revenue. Data indicates that over 459 Friend.tech sniper bots have accumulated over $5.9 million, accounting for about 34% of the total creator revenue.

With the revenue sent to creators standing at over $18.4 million, the sniper bots earned about $5.935 million in revenue in the period. The data indicates that the sniper bots sniped on approximately 33.44K subjects on Friend.tech.

The analysis indicates that individual sniper bots make huge daily profits by sniping on subjects. For instance, a bot using contract 0xff231 has been able to snipe on 232 transactions, reporting a trading profit of 345.76 ETH, which translates to $596.4K.

Another sniper bot using contract 0x88e6a has sniped on over 971 different subjects, earning 182.7 ETH, translating into $315K. The third most prominent profiting address is 0x7501, which sniped on 27 subjects, amassing profits of about 129.31 ETH, or over $223K.

Interestingly, looking at the profits based on the number of subjects sniped indicates that each subject has different profit levels at Friend.tech.

Friend.tech Thriving in Other Metrics

In general, Friend.tech has seen enormous growth, with its TVL at the time of writing standing at $52.31 million and the number of users hitting 305,892. Furthermore, since dawn, the protocol has recorded an inflow of about 213 million ETH, translating into $349.7 million.

The number of daily transactions has changed daily, with the highest of 539.8k transactions recorded on September 13. The cumulative number of transactions was 9.17 million at the time of writing.

The post Friend.tech’s Earnings Hit $18.4 Million in Just 2 Months appeared first on CryptoPotato.

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Filed under: Bitcoin - @ October 2, 2023 1:24 pm