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 Total value locked Methodology

## 1. Overview

Friend.tech Total Value Locked (TVL) measures the total USD value of tokens held within Friend.tech protocol contracts on the Base blockchain. This metric answers the question "How much value is currently deposited and locked in the Friend.tech protocol?" The calculation approach treats TVL as equivalent to net deposits, tracking the cumulative USD value of tokens flowing into and held by the protocol's smart contracts.

## 2. Data sources

- **Base blockchain transaction data**: Transaction traces and event logs from the Base blockchain that capture token transfer events and balance changes
- **Token balance change events**: Parsed events showing inflows and outflows of tokens to/from Friend.tech protocol contracts
- **End-of-day price feeds**: Daily cryptocurrency price data used for USD conversion of token balances
- **Token metadata**: Information about token symbols, decimal places, and contract addresses for proper token identification and value calculation

## 3. Step-by-step calculation

### Component A: Balance change tracking
- **Purpose**: Captures daily snapshots of token balance changes within Friend.tech protocol contracts
- **Logic**: Uses blockchain transaction data to identify when tokens flow into or out of the main Friend.tech contract address `0xcf205808ed36593aa40a44f10c7f7c2f67d4a4d4` on Base chain. The system processes transaction traces to calculate net balance changes for each token type on a daily basis. Only the primary protocol contract address is monitored to ensure accurate TVL measurement.
- **Key fields**: `timestamp` for daily granularity, `account_address` identifying the Friend.tech contract, `token_address` and `token_symbol` for token identification, and `balance` representing the net change in token holdings

### Component B: Cumulative balance calculation
- **Purpose**: Converts daily balance changes into running total balances over time
- **Logic**: Applies cumulative sum calculations using window functions partitioned by token and contract address, ordered by timestamp. This transforms daily balance change deltas into absolute balance amounts held by the protocol at each point in time. Forward-filling logic handles missing data points by carrying forward the last known balance value to ensure continuous data coverage.
- **Key fields**: `balance` representing cumulative token holdings, `timestamp` for temporal ordering, partitioning dimensions including `chain_id`, `account_address`, and `token_address`

### Component C: USD conversion
- **Purpose**: Converts token balances to USD values using market prices
- **Logic**: Joins cumulative token balances with end-of-day price feeds to calculate USD values. The conversion uses daily price data matched by timestamp, chain ID, and token address. Only positive balances are included to ensure TVL represents actual value held by the protocol. The calculation uses safe multiplication to handle potential null values or calculation errors.
- **Key fields**: `amount` representing USD value of token holdings, `price_usd` from daily price feeds, joined on `timestamp`, `chain_id`, and `token_address`

### Final aggregation
- **Combining components**: The net deposits calculation aggregates USD values across all tokens held by the Friend.tech protocol contracts, with the TVL metric directly using this net deposits value
- **Currency conversion**: USD conversion occurs at the token balance level using end-of-day prices before final aggregation
- **Time aggregation**: Daily boundaries are used throughout, with balance snapshots taken at day-end and matched with corresponding daily price feeds
- **Final calculation**: Friend.tech TVL equals the total USD value of net deposits, representing the sum of all token values held within the protocol's smart contracts at each point in time. The metric is standardized using finalization macros and includes chain availability filtering to ensure data quality.

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

Total value locked (TVL)

Total value locked (TVL) — value deposited into the project's applications.

friend.techFRIEND

Total value locked

Total value locked

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