{"id":64418,"date":"2023-09-23T00:38:18","date_gmt":"2023-09-23T04:38:18","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/post-tech-friend-techs-rival-sees-surge-with-1-8-million-daily-trading-volume\/"},"modified":"2023-09-23T00:38:23","modified_gmt":"2023-09-23T04:38:23","slug":"post-tech-friend-techs-rival-sees-surge-with-1-8-million-daily-trading-volume","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=64418","title":{"rendered":"Post.Tech, Friend.Tech’s Rival, Sees Surge with $1.8 Million Daily Trading Volume"},"content":{"rendered":"
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In the world of social media, competition is fierce, and when it comes to token-gated channels, pioneer Friend.Tech dominated until rival Post.Tech recently experienced a surge in daily trading volume, The Block reported on Thursday.<\/p>\n

Post.Tech operates much like its predecessor, Friend.Tech, offering token-gated channels where users can buy and sell access tokens.<\/p>\n

Both platforms charge a 10% fee on transactions, split evenly between the app and the channel’s owner.<\/p>\n

While Friend.Tech has dominated this space since its inception, with daily transaction volumes occasionally reaching $20 million and a total volume of $250 million, Post.Tech is catching up despite launching a month later, the new data showed.<\/p>\n

Soaring usage<\/h2>\n

On September 20, Post.Tech recorded $875,000 in transaction volume, according to DappRadar.<\/p>\n

Meanwhile, the data showed that over the past 24 hours, the platform has seen trading volume exceed $1.81 million, with daily transactions soaring from just 2,000 on September 16 to over 190,000 as of September 21.<\/p>\n

At the same time, the DappRadar data showed that over 22,000 unique active wallets (UAWs) have interacted with Post.Tech in the last 24 hours, compared to 14,300 UAWs on Friend.Tech.<\/p>\n

The strong growth in usage was also pointed to by post.tech in a post on X from Thursday:<\/p>\n

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Different L2 networks<\/h2>\n

The two platforms have some differences worth noting.<\/p>\n

Friend.Tech operates on Coinbase\u2019s new Ethereum Layer 2 network Base, while Post.Tech uses the popular but older Ethereum Layer 2 network Arbitrum.<\/p>\n

Another distinction is the reward mechanism, where Friend.Tech rewards users with points, fueling speculation about potential airdrops in the future.<\/p>\n

In contrast, Post.Tech offers cash rewards, distributed proportionally based on user activity.<\/p>\n

Post.Tech recently announced a $100,000 reward for activity between September 7 and September 22, which The Block speculated could be contributing to its recent surge in usage.<\/p>\n<\/p><\/div>\n