Trading Volume On Social App PostTech Crosses $5M
PostTech Attempts To Enter Hot SocialFi Arena With Combination Of Twitter’s Website and FriendTech’s Trading Features
By: Owen Fernau • Loading...
DeFi![Trading Volume On Social App PostTech Crosses $5M](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Faf8f78a6571fb6e7c1fd7703986095e3ad449547-880x495.jpg&w=828&q=75)
Anything that works in crypto is bound to attract copycats.
After the recent success of friend.tech, social media users are now flocking to PostTech, which has seen over $5M in trading volume in the past day and a half, according to a Dune Analytics dashboard. Concurrently, user count has rocketed past 30,000 from just 733 on Sept. 16.
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F09fcda66b4408c6db9c336adf4be361154e8d6cc-541x333.jpg&w=828&q=100)
A major difference between PostTech and friend.tech is that trading fees are shared evenly between creators and holders, instead of accruing to the platform.
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F842828c09b83c7807d4d4d3b777367baad3347c4-680x391.jpg&w=828&q=100)
Users can earn ETH by buying, selling, and trading shares, as well as creating content on the platform, and can earn points by performing a variety of other activities
PostTech appears to be the first application to pose a meaningful challenge to friend.tech’s breakaway success. Indeed, the SocialFi app that has captivated crypto over the past month saw its first net outflow of ETH in 20 days.
![friend.tech ETH flows chart](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F375295970fda6cd28b79d8b924b53f9e4966f02d-547x331.jpg&w=828&q=100)
It also seems like friend.tech isn’t the only application that deeply inspired Post Tech’s design — the newcomer looks nearly identical to X (formerly Twitter).
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F71084716ebcd5e74f858d77398d6649f816cdc7f-557x491.jpg&w=828&q=100)
Post Tech’s developers chose to deploy on Arbitrum, the leading Ethereum Layer 2 by TVL, while friend.tech chose Coinbase’s recently launched Base, which has seen activity drop from a record 21 transactions per second (TPS) on Sept. 14.
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Fa3528db234ad03903ab53fdea1a5395f2445cc29-879x313.jpg&w=828&q=100)
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