Stars Arena: Igniting DeSo Buzz on Avalanche

In the burgeoning realm of decentralized social media (DeSo), the Stars Arena application has emerged as a catalyst, sparking a considerable surge in activity on Avalanche's C-Chain network. This surge, in turn, has played a significant role in the noticeable uptick in the price of the native AVAX token, experiencing a remarkable increase of over 8% within the last 24 hours, currently residing at an approximate value of $9.97.

Since its unveiling in late September, Stars Arena, drawing its inspiration from the innovative features of Friend.tech, has embarked on an impressive trajectory, witnessing a notable spike in daily transactions on the Avalanche C-Chain. This chain, meticulously crafted to serve as a specialized blockchain component, tailored to impeccably execute smart contracts on the Avalanche platform, has seen an astonishing 186% surge in daily transactions within the span of just two days.

Total Avalanche C-Chain network activity spiking 186% from Oct. 1. Source: Snowtrace.io 

Moreover, the Stars Arena application has blossomed and expanded at a noteworthy pace, amassing an impressive user base, boasting over 10,000 unique active wallets on the platform. Remarkably, over the past 48 hours, the platform has facilitated a trading volume exceeding an astounding $3.26 million, overseeing a transaction count surpassing 462,000, as meticulously reported by DappRadar's comprehensive data analysis.

Stars Arena has grown rapidly since its launch in late September. Source: DappRadar 

Simultaneously, data procured from DefiLlama paints an enlightening picture, revealing that the platform has successfully vaulted over the commendable milestone of $1 million in total value locked (TVL). However, in the grand tapestry of DeSo platforms, this achievement still stands in the shadow of Friend.tech, a behemoth in the field, commanding a substantial TVL amounting to approximately $44.27 million.

In a manner akin to Friend.tech, Star Arena extends a welcoming hand to users, allowing them to seamlessly integrate their X (Twitter) accounts with the platform. The AVAX token, acting as the conduit of transactional prowess, enables the acquisition of "tickets" from fellow users. It is worth noting that a modest fraction of the fees generated from these ticket transactions finds its way back to the platform itself, alongside being thoughtfully distributed among the users involved.

Upon the acquisition of a user's ticket, the individual is granted access to a private chat—a coveted feature that sets Stars Arena apart from Friend.tech. The latter predominantly features a public feed, offering a more democratic approach, allowing users to follow others without necessitating hefty financial commitments, a distinct advantage in contrast to its counterparts.

In the expansive virtual galaxy, a pseudonymous X user known by the moniker Wale.swoosh exuded praise for Stars Arena, terming it "superior to Friend.tech in various facets." Wale.swoosh particularly applauded the platform's engaging public feed feature, which fosters a more socially engaging environment compared to the Base-based DeSo app.

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

However, amidst the chorus of acclaim, Wale.swoosh and several other discerning users on X did not shy away from pointing out the persistent bugs within the application. The lag in chat responsiveness, a rather irksome flaw, was underscored, and concerns were voiced regarding the opacity surrounding the composition and operations of the development team behind the application.

As Stars Arena boldly strides into the realm of DeSo apps, it firmly plants itself as the latest addition to a burgeoning landscape of social finance platforms. Joining the ranks alongside Alpha on the Bitcoin network, Friendzy on Solana, and PostTech on Arbitrum, Stars Arena embarks on this journey of innovation and connectivity.

Yet, in this ever-expanding landscape, Friend.tech remains the undisputed titan, reigning as the market leader. It boasts a monthly trading volume that echoes with resounding success, surpassing the remarkable figure of $293 million—a staggering achievement that places it head and shoulders above its closest contender, PostTech, by an awe-inspiring margin of over $283 million. This paints a compelling picture of the dynamics at play within the riveting DeSo ecosystem.

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