Avalanche

<div class="cryptonews">
 <p class="is-style-lead">Stars Arena, a decentralized social media application, is catalyzing transaction activity on Avalanche’s C-Chain network.</p>
 <p>Launched in late September, the blockchain-based social app, inspired by Friend.tech, has contributed to a more than 186% rise in daily transactions on Avalanche’s C-Chain—the blockchain element tailored for smart contracts—over the last two days.</p>
 <figure class="wp-block-image size-full is-resized"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/10/05/13dd013486924a4969ab64d97520f9b5.webp" alt="Friend.tech competitor Stars Arena driving on-chain boom on Avalanche - 1" class="wp-image-14200979" style="width: 100%;height:389px" width="1020" height="389">
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   Avalanche C-chain network activity soars by 186% since Oct. 1 | Source: Snowtrace.io
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 <p>The application has more than 10,000 unique active wallets.</p>
 <p>Over the past two days, Stars Arena has reported a total trading volume exceeding $3.26 million and over 462,000 transactions, according to DappRadar data.</p>
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   <img decoding="async" src="https://cdn.thebittimes.com/images/2023/10/05/df70bc5eeb7c59fd2362ca1d030260c2.webp" alt="Friend.tech competitor Stars Arena driving on-chain boom on Avalanche - 2" width="1020" height="551"> 
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   Stars Arena experiences swift expansion since late September debut | Source: DappRadar.
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 <p>Additionally, DefiLlama data reveals that the platform has surpassed $1 million in total value locked (TVL), although this is lower compared to Friend.tech’s $44.27 million in TVL.</p>
 <p>Like Friend.tech, Stars Arena enables users to link their Twitter accounts to the platform. Users can utilize the AVAX token to purchase “tickets” from other users, with a share of the transaction fees directed to both the platform and the participating users.</p>
 <div class="cn-block-related-link">
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 <p>In contrast to Friend.tech’s model, where purchasing a user’s ticket provides exclusive access to a private chat, Stars Arena offers a public feed. This functionality allows users to follow others without the need for substantial expenditures.</p>
 <p>Pseudonymous user Wale.swoosh on platform X commended Stars Arena for being “superior to Friend.tech in many ways,” specifically citing its public feed feature that fosters enhanced social interaction compared to the Base-based DeSo app.</p>
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">I've capitulated in creating a Stars Arena account after seeing it all over my timeline.<br><br>Won't shill my own ref link, but a few thoughts:<br><br>Stars Arena is superior to Friendtech in a lot of ways and solves one of the main problems I had with FT.<br><br>There is a public feed, so people… pic.twitter.com/S9KzPp3hqC</p>— wale.swoosh (@waleswoosh) October 4, 2023
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 <p>However, Wale.swoosh and several other users on X also pointed out that the app still has its issues, such as “very laggy” chats and a lack of transparency about the team behind the platform.</p>
 <p>Despite the growing interest in Stars Arena since its inception, a Dune report indicates that Friend.tech still dominates the social platform landscape with 7.32 million monthly transactions and $38.6 million in weekly volume.</p>
 <p>Stars Arena, which is still listed under the name Starshares, has 772 thousand monthly transactions and a weekly volume of $7.2 million.</p>
 <p>The rise in Stars Arena’s popularity has also had a positive impact on AVAX, which saw its price rise from $9.21 to $10.25 in two days, according to CoinMarketCap.</p>
 <p>“Avalanche network transactions up nearly 50% on the back of Stars Arena surging in popularity,” blockchain <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> Patrick Scott said. “Good reminder that this industry is still early, and a single killer app can have a meaningful impact on usage statistics.”</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/friend-tech-competitor-stars-arena-driving-on-chain-boom-on-avalanche-tbt65244.html">https://thebittimes.com/friend-tech-competitor-stars-arena-driving-on-chain-boom-on-avalanche-tbt65244.html</a></p>

Friend.tech competitor Stars Arena driving on-chain boom on Avalanche

TheBitTimes

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