Analyzing some key data points on FriendTech, the popular social token trading platform 🧵


Indie Web3 Analysis | https://www.theindex.media

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 📈

Troubling bot activity sniping new token drops - 125 bots have sniped 21,873 keys and profited $2.1M so far 🤖

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

Creators also see high bot activity. @zachxbt had 82 tokens sniped for a 76 ETH bot profit. 🎯

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:

High number of transactions fail due to MEV issues like sandwich attacks. Hurts legit traders through lost funds 🥪