More than a month since its launch, Base has done full justice to the hype and one could safely say that it has exceeded expectations.
. The disruptive protocol has taken the online world by storm since its launch in early August.
For the uninitiated, Friend.tech allows users to make money from the popularity, credibility, and social value of creators and influencers. Users buy and sell shares or keys of their friend’s X profiles. The shares then rise and fall depending on the popular sentiment. Additionally, when a person’s shares are bought and sold, they earn 50% of the trading fees. Cool, ain’t it?
The unique model has also attracted people in droves. According to DeFiLlama, liquidity worth $32.89 million was locked on the protocol at the time of writing, representing a 6x jump month-to-date .Nearly 23,000 users utilized the platform on 16 September to buy and sell shares. In the process, trading fees worth a million dollars were collected by the Web3 social app.
Interestingly, the dramatic surge in usage was partly driven by the need to secure points that may subsequently be utilized for an AirDrop. An AMB Crypto article recently highlighted the phenomenon of2023 has proved to be the moving year for L2 scaling solutions. Base’s launch was an iconic development in the sphere as it was arguably the first time that a publicly-listed company made significant investments into blockchain technologies.
The space had a lot to look forward to, with the EIP-4844 upgrade being the first in queue. The scalability improvement, intended to achieve 10-100x cost savings from Ethereum, could usher in a new era of growth for L2s.
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