Avalanche

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 The price of AVAX has surged more than 8% amid heightened network activity brought about by Friend.tech look-alike Stars Arena.
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 Decentralized social media (DeSo) application Stars Arena has caused a major uptick in <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> on Avalanche’s C-chain network.
 As network <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> increased, so did the price of the network’s native AVAX (AVAX) token, which has gained more than 8% in the last 24 hours.&nbsp;
 Launched in late September, the Friend.tech-inspired Stars Arena has seen the total number of daily transactions on the Avalanche C-chain — the blockchain component specifically designed for running smart contracts on Avalanche — grow by more than 186% over the past two days.
 <figure><img src="https://cdn.thebittimes.com/images/2023/10/05/08b749be7d82642b05f0af0962ec115c.webp">
 <figcaption style="text-align: center;">Total Avalanche C-chain network activity spiked 186% from Oct. 1. Source: Snowtrace.io
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 The Stars Arena application has grown rapidly as well, with more than 10,000 unique active wallets on the platform. Over the course of the past 2 days, the platform has witnessed more than $3.26 million in total trading volume and a little over 462,000 transactions, according to data from DappRadar.
 <figure><img src="https://cdn.thebittimes.com/images/2023/10/05/d79123807c9bee6eaf3b254172d13e2f.webp">
 <figcaption style="text-align: center;">Stars Arena has grown rapidly since its launch in late-September. Source: DappRadar
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 Meanwhile,&nbsp;data from DefiLlama shows that the platform has exceeded $1 million in total value locked (TVL). This however, 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 use the AVAX token to purchase “tickets” of other users, with a small cut of fees being paid to the platform itself and the users when tickets are bought and sold.
 While purchasing a users’ ticket provides users with access to a private chat — unlike Friend.tech, Stars Arena <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a> a public feed, so users can follow others without needing to front up large sums of money.
 Related: Decentralized social networks have a retention problem, say execs
 Pseudonymous X user Wale.swoosh described Stars Arena as “superior to Friend.tech in a lot of ways” — with its public feed feature allowing users to be more social than they would on the Base-based DeSo app.
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 I've capitulated in creating a Stars Arena account after seeing it all over my timeline. Won't shill my own ref link, but a few thoughts: Stars Arena is superior to Friendtech in a lot of ways and solves one of the main problems I had with FT. There is a public feed, so people… pic.twitter.com/S9KzPp3hqC— wale.swoosh (@waleswoosh) October 4, 2023
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 Still, Wale.swoosh and a number of others users across X noted that that the application was still quite buggy, with chats being “very laggy” and drew attention to the lack of information on the team behind the application.&nbsp;
 Stars Arena is the latest app to join a growing roster of social finance platforms such as Alpha on the Bitcoin network, Friendzy on Solana and PostTech on Arbitrum. Despite the <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> in similar DeSo apps, Friend.tech remains the market leader, with more than $293 million monthly trading volume, outpacing the next-closest app PostTech, by more than $283 million.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/friend-tech-clone-stars-arena-drives-surge-of-activity-on-avalanche-tbt65161.html">https://thebittimes.com/friend-tech-clone-stars-arena-drives-surge-of-activity-on-avalanche-tbt65161.html</a>

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

TheBitTimes

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