Users are able to buy “keys” of other users X (Twitter) accounts. By owning a “key” the user gets access to a private chat with the person whose “key” one owns. When a “key” of a users account is traded the user earns a commission (supply-side fees).

friend.tech is a crypto native social media application built on Base. friend.tech was founded by pseudonymous developers known as Racer and Shrimp and launched in 2023.

friend.tech team and investors own the protocol. They currently take a cut of the total trading volume (revenue). friend.tech’s investors include Paradigm.

twitter

website

Social

friend.tech

# friend.tech Token incentives Methodology

## 1. Overview

The Friend.tech token incentives metric measures token-based rewards distributed to users by the protocol. This metric consistently returns zero values because Friend.tech does not implement any token incentive programs. Instead of distributing protocol tokens as incentives, Friend.tech operates on a fee-based model where users pay fees for social trading activities. The metric maintains the standard Token Terminal structure for consistency across protocols while accurately reflecting Friend.tech's business model.

## 2. Data sources

The metric uses the Friend.tech fee calculation infrastructure to establish proper dimensional structure:

- **Friend.tech V1 events**: Parsed `Trade` events from Base blockchain containing social share trading activities
- **Friend.tech V2 events**: Parsed `Buy` and `Sell` events from Base blockchain for club trading activities  
- **Protocol configuration events**: Parsed function call logs for fee rate changes from Base blockchain
- **Transaction data**: Base blockchain transaction records for user address identification
- **External price data**: End-of-day price feeds from CoinGecko for FRIEND token and Ethereum for WETH conversion

## 3. Step-by-step calculation

### Component A: Fee infrastructure reference
- **Purpose**: Establish dimensional framework and time series structure
- **Logic**: References the Friend.tech fees calculation to obtain proper timestamp boundaries, chain identifiers, and product classifications. This ensures the token incentives metric maintains consistent dimensionality with other Friend.tech metrics even though no actual incentives exist.
- **Key fields**: Uses `timestamp`, `timestamp_grain`, `product_id`, and `chain_id` from the fee calculation as the structural foundation

### Component B: Zero value assignment  
- **Purpose**: Set all token incentive values to zero across all time periods
- **Logic**: Replaces any potential token incentive amounts with zero values, accurately reflecting that Friend.tech does not distribute protocol tokens as user incentives. The protocol operates purely on a fee-based model where users pay for access rather than receiving token rewards.
- **Key fields**: Creates `token_incentives` field with value 0 for all records

### Final aggregation
- **Combining components**: Uses the dimensional structure from fee calculations but applies zero values for all incentive amounts
- **Currency conversion**: No currency conversion required since all values are zero
- **Time aggregation**: Maintains daily time boundaries consistent with other Friend.tech metrics  
- **Final calculation**: All token incentive values equal zero across all time periods, chains, and user activities, reflecting the protocol's fee-based rather than incentive-based operational model

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens distributed as incentives.

friend.techFRIEND

Token incentives

Token incentives

Competitive landscape