Friend.tech clone Stars Arena activates high activity on Avalanche
Decentralized social media (DeSo) application Stars Arena has caused significant activity on the Avalanche C-Chain network.
As network activity increased, so did the value of the network's native AVAX (AVAX) token, which gained more than 8% in the past 24 hours.
The Friend.tech-inspired Stars Arena, which launched in late September, has seen the total number of daily transactions on Avalanche's C-Chain — the part of the blockchain specifically designed to run smart contracts on Avalanche — grow more than 186% over the past two years. Days.
The Stars Arena app has also grown rapidly, with over 10,000 unique active wallets on the platform. In the last two days, the platform has seen more than 3.26 million dollars in total trading volume and slightly more than 462,000 transactions, according to data from Dapradar.
Meanwhile, data from Defillama shows that the platform's total value locked (TVL) has exceeded $1 million. But this pales in comparison to Friend.tech, which still has $44.27 million in TVL.
Like Friend.tech, Star Arena allows users to link their X (Twitter) account to the platform. Users use AVAX tokens to buy other users' “tickets”, a small fee paid to itself and users when tickets are bought and sold.
Buying a user ticket gives users access to a private chat, unlike Friend.tech, Stars Arena offers a public feed, so users can follow others without having to spend a lot of money.
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Anonymous X user Wale.swoosh described Stars Arena as superior to friend.tech in many ways, with the public feed feature allowing users to be more social on the base-based Desso app.
I decided to create a Stars Arena account after seeing it on my timeline.
I won't do my own analysis, but a few thoughts:
Stars Arena is superior to FriendTech in many ways and solves one of the main problems I had with FT.
There is public food, so people… pic.twitter.com/S9KzPp3hqC
— wale.swoosh (@waleswoosh) October 4, 2023
Still, Wale.swoosh and other users across X say the app is still very clunky and that chats are “very laggy” and the lack of information on the team behind the app has drawn attention.
Stars Arena is the latest app to join the list of social finance platforms like Alpha on Bitcoin Network, Friendzy on Solana and PostTech on Arbitrum. Despite the rise of similar Desso applications, Friend.Tech remains the market leader with monthly transaction volume of over $293 million, surpassing the next closest PostTech at over $283 million.
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