The Index
@theindex
Analyzing some key data points on FriendTech, the popular social token trading platform 🧵
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The Index
@theindex
Rapid user growth with 119,907 traders but TVL remains low at just $5.8M. Huge potential to drive engagement and value per user from this base 📈
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The Index
@theindex
Troubling bot activity sniping new token drops - 125 bots have sniped 21,873 keys and profited $2.1M so far 🤖
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The Index
@theindex
High number of transactions fail due to MEV issues like sandwich attacks. Hurts legit traders through lost funds 🥪
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The Index
@theindex
Trading volume spiked to $15M on 8/20 likely due to influencer promos. Engagement jumps during promotions - nothing new here but evidence that influence on Twitter is translating strongly to influence on FT
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The Index
@theindex
Creators also see high bot activity. @zachxbt had 82 tokens sniped for a 76 ETH bot profit. 🎯
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The Index
@theindex
Takeaway - FriendTech shows the potential of social tokens but still battles bots, MEV and monetization. Data can be p-hacked any way you want; but there isn’t a strong bull case for the model. Yet. More: The Index on Telegram:
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