Stars Arena Joins Growing List of DeSo Apps

Avalanche-based Decentralized social media platform Stars Arena has recently recorded an remarkable surge, propelling the network to new heights in the last 24 hours.

On October 4, the Avalanche C-Chain witnessed a staggering 577,000 transactions, the highest in the last quarter, primarily due to the Star Arena's launch.

Inspired by Friend.tech, Stars Arena, which launched in September, has recorded over 470,000 transactions in the past 24 hours while boasting over 11,000 unique active addresses, according to data from Artemis.  

DefiLlama data also shows that the platform has exceeded $1 million in total value locked (TVL). However, the platform trails behind a host of competitors led by Friend.tech, with a current TVL of $45.43M.

Similar to Friend.tech, Stars Arena allows users to link their X (Twitter) accounts and use AVAX tokens to purchase "tickets" from other users, sharing fees with the platform and users when tickets are bought and sold. However, the platform uniquely features a public feed, eliminating the need for users to spend large sums of money to follow others.

Stars Arena joins a growing list of SocialFi platforms vying for market share, including ​​post.tech, SharesGram, and Share.finance. 

As of writing, Avalanche’s native token, AVAX, is trading at a price of $10.22, having gained over 5% in the last 24 hours.