Post.Tech Gains Traction: Surpasses $1.8 Million in Daily Trading Volume

Post.Tech Gains Traction: Surpasses $1.8 Million in Daily Trading Volume

Crypto News – Post.Tech, a burgeoning social media platform, has recently seen a surge in activity, boasting a trading volume exceeding $1.8 million in a 24-hour timeframe for the first time.

The platform is essentially a replication of the innovative Friend.Tech application, mimicking both its functionality and business model. Both platforms facilitate token-gated channels, allowing users to buy and sell access tokens. However, a notable 10% fee on transactions is levied, with half going to the app and the other half to the respective channel owner.

As the original pioneer in this type of application, Friend.Tech has amassed significantly higher transaction volumes. According to data from a Dune dashboard by TK Research, Friend.Tech has witnessed days with transaction volumes reaching $20 million. Since its inception, the platform has accumulated a substantial $250 million in transaction volume. On the other hand, Post.Tech, having launched a month later, is still experiencing lower transaction volumes.

Airdrop Farming However, in recent days, activity on Post.Tech has seen a notable uptick. On September 20th, the app recorded $875,000 in transaction volume, as reported by DappRadar. In the last 24 hours, this volume surged to an impressive $1.8 million. Daily transactions have also seen a remarkable increase, escalating from 2,000 on September 16th to a current count of 87,000.

According to DappRadar, over the last 24 hours, more than 11,000 unique active wallets engaged with Post.Tech, a slightly lower number than the 15,700 wallets reported for Friend.Tech.

A fundamental distinction between the two platforms lies in their underlying technology. Friend.Tech is built on the Ethereum Layer 2 network Base, while Post.Tech operates on a different Ethereum Layer 2 network, Arbitrum. Additionally, in terms of privacy within channels, Friend.Tech restricts message visibility solely to the channel owner, whereas Post.Tech allows anyone within a channel to view all messages.

Moreover, Friend.Tech incentivizes users by rewarding them with points for their interactions, fueling speculation of a potential future airdrop. Conversely, Post.Tech offers direct cash rewards, distributed based on activity, clearly defining their incentive structure. Notably, the platform is set to distribute $100,000 for activity occurring between September 7th and September 22nd, likely contributing to the recent surge in activity.

However, there are certain risks associated with utilizing these applications. While users possess their individual wallets, the keys are not entirely self-custodial. A potential security breach in the Friend.Tech frontend website could lead to the loss of user funds, as cautioned by a pseudonymous developer at DefiLlama known as 0xngmi.

Furthermore, skepticism looms regarding the long-term sustainability of these applications due to the high transaction fees and the barrier to entry they present. As activity is currently driven by airdrop enthusiasts, these platforms need to demonstrate their ability to sustain momentum post-airdrops.