Bots amass over $2 million in earnings on Good friend.tech

Crypto.information – Newest knowledge about Good friend.tech, a decentralized social media platform, exhibits that it contributes over 20% of the typical lively addresses on Base, an (ETH) layer-2 platform.

In the meantime, Dune knowledge compiled by Tom Wan exhibits that within the final two weeks alone, automated bots have secured over 21,800 keys, incomes $2.1 million in earnings.

These bots work by buying newly registered profiles cheaply earlier than promoting them at a better value.

One bot specifically, “0xcc218bbd21e14944fcc121d161c9b9ae71b9cc85,” acquired 96 profiles price almost 260 Ethereum (ETH), which might be price roughly $600,000 in earnings.

Bots have generated over 500,000 transactions.

Since launching on Aug. 10, Good friend.tech, which permits customers to accumulate “shares” of people on X, previously Twitter, has over 100,000 addresses.

Supplementary insights from Dune analytics present that Good friend.tech has generated over 45k ETH ($70 million) in cumulative volumes, from the greater than 2 million transactions since launching.

Up to now 24 hours, DeFiLlama knowledge additionally reveals that the social media platform generated greater than $300,000 in charges, delivering a income of $161,000.

Earlier within the week, Coinbase (NASDAQ:) CEO, Brian Armstrong, famous that Good friend.tech can play an necessary position within the development and adoption of Base.

Dune Analytics knowledge confirms that 20% of lively addresses on Base interact with Good friend.tech.

Not too long ago, Jeremy Allaire, the CEO of Circle, the issuer of USDC, mentioned Good friend.tech’s development is a compelling use case of BusinessSocialFi.

The social media platform permits customers to tokenize their social connections, granting them entry to options like personal messaging and interplay rights.

Sadly, Good friend.tech’s elevated reputation is attracting hackers.

On Aug. 21 there have been experiences of a supposed hack. Nonetheless, the platform clarified that knowledge retrieved was on account of scraping, not a safety breach.

This text was initially printed on Crypto.information