FriendTech now a ghost town as revenues fall 99.9%
FriendTech was once the most popular application on Base, Coinbase’s Ethereum-based layer 2 blockchain. It allowed bets on the popularity of Twitter (now X) crypto influencers that FriendTech duplicated onto its platform. It was, in essence, a BitClout (now Decentralized Social) copycat. At its September 2023 peak in popularity — one month after Coinbase launched its Base mainnet — FriendTech generated over $1 million per day in fees. Today, that same protocol has earned less than $60 in the past 24 hours according to data from DefiLlama. FriendTech has released their Q2 earnings $9 in revenue with an EPS of $0.0000000094/token pic.twitter.com/qPAPuWdnU3 — Conor (@jconorgrogan) September 4, 2025 FriendTech advertised “shares” in influencers’ profiles that it quickly renamed “keys” to avoid regulatory issues. Keys were bets on FriendTech profiles, and most people bought them in hopes of making money. Very few did. ...