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.

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friend.tech

# friend.tech Treasury Methodology

## 1. Overview

The FriendTech treasury metric measures the total USD value of all tokens held in FriendTech's official treasury wallet on Base chain. This metric provides insight into the protocol's financial reserves and asset management over time. The calculation tracks token balance changes from blockchain events, maintains cumulative balances, and converts all holdings to USD value using daily price feeds.

## 2. Data sources

- **Base chain events**: Parsed ERC20 `Transfer` events from Base blockchain to track token movements into and out of the treasury address
- **Token price data**: End-of-day price feeds providing USD conversion rates for all tokens held in the treasury
- **Token metadata**: Token symbol and decimal information for proper balance calculations and identification

## 3. Step-by-step calculation

### Component A: Treasury balance changes
- **Purpose**: Track all token movements into and out of the FriendTech treasury address
- **Logic**: Process Base chain `Transfer` events where the FriendTech treasury address (`0xdd9176ea3e7559d6b68b537ef555d3e89403f742`) appears as either sender or receiver. Extract balance changes by calculating net token flows for each token contract. Positive changes represent tokens received, negative changes represent tokens sent out.
- **Key fields**: `timestamp`, `account_address`, `token_address`, `balance` change amount, `token_symbol`

### Component B: Cumulative balance calculation  
- **Purpose**: Maintain running totals of each token held by the treasury over time
- **Logic**: Calculate cumulative sum of balance changes for each token, partitioned by token address and ordered by timestamp. This creates a time series showing the total amount of each token held by the treasury at any given point.
- **Key fields**: Cumulative `balance` for each `token_address` over time

### Component C: Data continuity handling
- **Purpose**: Ensure complete daily time series data without gaps
- **Logic**: Apply forward-fill strategy to propagate the most recent balance for each token to subsequent dates where no balance changes occurred. This creates continuous daily data points showing treasury holdings even on days with no token movements.
- **Key fields**: Forward-filled `balance` values across all dates in the time series

### Component D: USD conversion
- **Purpose**: Convert all token balances to USD values for aggregation
- **Logic**: Join each token balance with corresponding end-of-day price feeds using timestamp, chain, and token address matching. Multiply token balance by USD price to get USD value. Filter to include only positive balances and daily price granularity.
- **Key fields**: `amount` (USD value of token holdings), calculated as `balance` × `price_usd`

### Final aggregation
- **Combining components**: Sum all USD token values for each day to get total treasury value
- **Currency conversion**: All values converted to USD using end-of-day pricing at the daily timestamp boundary  
- **Time aggregation**: Daily aggregation with timestamp boundaries aligned to end-of-day
- **Final calculation**: Total treasury value equals the sum of all individual token USD values held by the FriendTech treasury address on each day, with zero-fill strategy applied for days with no holdings

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

Total value of a project's onchain treasury, including its native token.

friend.techFRIEND

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