Stars Arena, a decentralized social media (DeSo) application, has observed a significant surge in activity on Avalanche’s C-Chain network. This increase in network activity has also led to a rise in the price of Avalanche’s native AVAX token, which has experienced a growth of over 8% in the past 24 hours. Since its launch in late September, Stars Arena, inspired by Friend.tech, has witnessed a remarkable growth in the total number of daily transactions on the Avalanche C-Chain. Over the last two days, these daily transactions have increased by more than 186%.
Stars Arena itself has grown rapidly as well, attracting over 10,000 active wallets on the platform. In terms of trading volume, the platform has facilitated more than $3.26 million within the past two days, with over 462,000 transactions taking place, as per DappRadar data. Additionally, data from DefiLlama reveals that Stars Arena has surpassed $1 million in total value locked (TVL). However, it is important to note that this TVL figure still falls short compared to Friend.tech, which boasts a staggering $44.27 million in TVL.
Similar to Friend.tech, Stars Arena allows users to connect their X (Twitter) accounts to the platform. The AVAX token is then used by users to purchase “tickets” from others on the platform. In this transaction, the platform receives a small portion of fees, with both the platform and the users earning when tickets are bought and sold. In contrast to Friend.tech, Stars Arena offers a public feed feature, allowing users to follow others without having to invest substantial sums of money. Furthermore, purchasing a user’s ticket provides access to a private chat.
User Feedback and Concerns
While Stars Arena has received praise from users like Wale.swoosh, who described it as “superior to Friend.tech in a lot of ways,” there have been reports of certain issues. Users noted that the application can be somewhat buggy, particularly in relation to laggy chats. Another concern raised by users was the lack of information regarding the team behind the application. Addressing these concerns and ensuring a smoother user experience may be crucial for Stars Arena to continue competing in the decentralized social media space.
Despite the emergence of similar DeSo apps, Friend.tech remains the dominant player in the market. With a monthly trading volume exceeding $293 million, Friend.tech outpaces its closest competitor, PostTech, by over $283 million. This significant market lead showcases the ongoing popularity and trust in the Friend.tech platform.
Overall, Stars Arena’s impact on activity within Avalanche’s C-Chain network is undeniable. The platform’s growing user base and impressive transactional volume highlight an increasing interest in decentralized social media applications. While the application has its strengths and advantages over competitors like Friend.tech, addressing user concerns and maintaining a bug-free experience will be crucial for Stars Arena to solidify its position in the decentralized social media landscape.
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