COME FOR THE POINTS, STAY FOR THE FRENS

Summary from the TLDR Crypto newsletter

Friend.tech has been gaining steam over the past couple of weeks after a couple of weeks of cooling off. This report breaks down how the decentralized platform permits users to monetize its social media presence and is currently generating more revenue than established protocols like Lido and Aave. The app is built on Base, an Ethereum L2, and recently announced a funding round led by Paradigm. While the initial traction has been impressive, this report suggests that Friend.tech needs to lessen its dependency on speculation and token incentives to have staying power.