Friend.tech clone Stars Arena drives surge of activity on Avalanche

Decentralized social media (DeSo) application Stars Arena has actually triggered a significant uptick in activity on Avalanches C-chain network. As network activity increased, so did the cost of the networks native AVAX (AVAX) token, which has actually gotten more than 8% in the last 24 hours. Launched in late September, the Friend.tech-inspired Stars Arena has actually seen the total number of day-to-day transactions on the Avalanche C-chain– the blockchain component particularly created for running smart agreements on Avalanche– grow by more than 186% over the past two days. Overall Avalanche C-chain network activity surged 186% from Oct. 1. Source: Snowtrace.ioThe Stars Arena application has actually grown quickly as well, with more than 10,000 unique active wallets on the platform. Throughout the previous 2 days, the platform has witnessed more than $3.26 million in overall trading volume and a little over 462,000 deals, according to information from DappRadar. Stars Arena has actually grown quickly because its launch in late-September. Source: DappRadarMeanwhile, data from DefiLlama reveals that the platform has surpassed $1 million in overall value locked (TVL). This nevertheless, still pales in comparison to Friend.tech, which commands some $44.27 million in TVL. Like Friend.tech, Star Arena lets users link their Twitter accounts to the platform. Users then utilize the AVAX token to buy “tickets” of other users, with a little cut of fees being paid to the platform itself and the users when tickets are bought and sold. While acquiring a users ticket offers users with access to a personal chat– unlike Friend.tech, Stars Arena features a public feed, so users can follow others without requiring to front up large amounts of money. Related: Decentralized social media networks have a retention problem, say execsPseudonymous X user Wale.swoosh explained Stars Arena as “remarkable to Friend.tech in a lot of methods”– with its public feed feature allowing users to be more social than they would on the Base-based DeSo app. Ive capitulated in developing a Stars Arena account after seeing it all over my timeline.Won t shill my own ref link, however a couple of ideas: Stars Arena is superior to Friendtech in a lot of ways and solves one of the primary problems I had with FT.There is a public feed, so individuals … pic.twitter.com/S9KzPp3hqC— wale.swoosh (@waleswoosh) October 4, 2023

Still, Wale.swoosh and a variety of others users throughout X kept in mind that the application was still quite buggy, with chats being “extremely laggy” and accentuated the absence of info on the team behind the application. Stars Arena is the most current app to sign up with a growing roster of social finance platforms such as Alpha on the Bitcoin network, Friendzy on Solana and PostTech on Arbitrum. In spite of the rise in comparable DeSo apps, Friend.tech stays the market leader, with more than $293 million monthly trading volume, outpacing the next-closest app PostTech, by more than $283 million. Magazine: Are DAOs overhyped and unfeasible? Lessons from the cutting edge

Users then use the AVAX token to buy “tickets” of other users, with a little cut of charges being paid to the platform itself and the users when tickets are purchased and offered. While purchasing a users ticket supplies users with access to a personal chat– unlike Friend.tech, Stars Arena includes a public feed, so users can follow others without requiring to front up large amounts of cash. Related: Decentralized social networks have a retention problem, say execsPseudonymous X user Wale.swoosh described Stars Arena as “superior to Friend.tech in a lot of methods”– with its public feed feature allowing users to be more social than they would on the Base-based DeSo app.