FriendTech rival Stars Arena fuels Avalanche transaction surge

Quick Take

  • SocialFi app Stars Arena has helped boost Avalanche C-chain network transactions.
  • Stars Arena leads in daily active users on the Avalanche network.

Blockchain-based social application Stars Arena is causing a significant surge in the number of transactions on Avalanche AVAX + 's C-chain network. Launched at the end of September, this latest social protocol inspired by FriendTech on Base has rapidly gained traction among users.

Stars Arena, originally named StarShares, has also emerged as a frontrunner in daily active users, surpassing other dapps on the Avalanche network, according to DappRadar. More than 10,000 unique active wallets interacted with Stars Arena in the 24 hours, its data shows.

The platform reported a total value locked just above $1 million within two weeks of its launch, according DeFiLlama data.

Transactions on Avalanche, meanwhile, have shown a significant uptick, with figures jumping from 158,000 on Sept. 20 around the time Stars Arena launched to over 250,000 by Oct. 3, according to The Block's Data Dashboard.


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Stars Arena is part of the larger SocialFi trend that ignited with the advent of FriendTech on Coinbase's Base Layer 2 blockchain in August, much like other clone projects such as PostTech on Arbitrum and Friendzy on Solana. The platforms allow users to trade tokens associated with social media influencers, granting them exclusive access to converse with them.

Mirroring FriendTech features, Stars Arena offers users the ability to link their Twitter accounts, facilitating the purchase or sale of profile tokens of other users with Avalanche's native asset AVAX. The app automatically creates a wallet for users to deposit AVAX and begin availing of the service.

At present, FriendTech remains the largest project in the overall SocialFi niche in terms of daily volume and revenue, according to on-chain data aggregated by CryptoKoryo on Dune Analytics.

Amid the rise in transactions on Avalanche, the price of AVAX has increased by 6.8% for the day, currently trading ay $9.95, according to CoinGecko data.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Vishal Chawla is The Block’s crypto ecosystems editor and has spent over six years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal likes to delve deep into blockchain intricacies to ensure readers are well-informed about the continuously evolving crypto landscape. He is also a staunch advocate for rigorous security practices in the space. Before joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter at @vishal4c and via email at [email protected]


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