The decentralized social media application Stars Arena has recently caused a significant increase in activity on Avalanche’s C-Chain network. This surge in network activity has also led to a rise in the price of Avalanche’s native AVAX token. Over the past 24 hours, the AVAX token has gained more than 8% in value. Stars Arena, inspired by Friend.tech, was launched in late September and has experienced a staggering 186% growth in the total number of daily transactions on the Avalanche C-Chain over the past two days.
Stars Arena has seen rapid growth since its launch, with over 10,000 unique active wallets on the platform. In just two days, the platform has witnessed more than $3.26 million in total trading volume, with over 462,000 transactions taking place. Furthermore, data from DefiLlama reveals that Stars Arena has surpassed $1 million in total value locked (TVL). However, it is worth noting that this still falls short compared to the $44.27 million in TVL commanded by Friend.tech.
Similar to Friend.tech, Stars Arena allows users to connect their X (Twitter) accounts to the platform. Users can then use the AVAX token to purchase “tickets” of other users. The platform takes a small cut of fees when tickets are bought and sold, benefiting both the platform itself and the users. While purchasing a user’s ticket grants access to a private chat, Stars Arena distinguishes itself from Friend.tech by featuring a public feed. This feature enables users to follow others without requiring a large financial commitment.
Pseudonymous X user Wale.swoosh lauds Stars Arena as “superior to Friend.tech in a lot of ways.” The public feed feature in Stars Arena allows users to be more socially engaged compared to the Base-based DeSo app. However, Wale.swoosh and other X users have mentioned several concerns. The application is reported to have some bugs, with chats being described as “laggy.” Additionally, users have expressed dissatisfaction with the lack of information available about the team behind Stars Arena.
Despite the emergence of similar decentralized social media apps, Friend.tech remains the market leader. The platform boasts over $293 million in monthly trading volume, surpassing the next-closest app, PostTech, by a staggering $283 million.
Stars Arena’s integration with the Avalanche C-Chain network has caused a substantial increase in network activity, leading to a rise in the AVAX token’s price. With its rapid growth and impressive metrics, Stars Arena has shown promising potential. However, user feedback indicates that improvements are needed to address bugs and provide more transparency regarding the team behind the app. As the DeSo app landscape continues to evolve, Friend.tech remains the dominant force, capturing a significant share of the market.