The trendsetter SoFi protocol, Friend.tech has generated $20 million for its developers within two months of launch.
Friend.tech has led and dominated the SoFi primitive since its launch in August with it achieving a significant amount in total fees. The protocol has accumulated over $370 million in annualized fees, as per DeFiLlama data.
Launched on Base, Friend.tech enables users to tokenize their onchain profile in keys which can be purchased by other users to be able to access their contact and other exclusive benefits.
It has generated a whopping $40 million in fees from trading of profile keys in two months. The fees are generated by cutting 10% from every transaction of buying or selling keys. From total fees, 50% goes to the user whose key is traded and the other 50% goes to the project as revenue.
Currently it has generated $15.3 million in the past 30 days revenue, putting it at third place after Ethereum and Tron.