Bots net $2M in profits on decentralized platform Friend.tech amid rising user activity

Maximal extractable value (MEV) bots on the decentralized social media application Friend.tech have profited more than $2 million from the platform.

Dune analytics data, compiled by 21Co’s research analyst Tom Wan, showed that 121 automated bots successfully acquired more than 21,800 Keys, resulting in a profit of $2.1 million within the last two weeks. Keys, previously referred to as shares, represent assets traded on the platform, providing users with privileged access to in-app chatrooms.