Increased engagement on Avalanche is driven by the Friend.tech clone Stars Arena.

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In a whirlwind of network activity propelled by the emergence of Stars Arena, a doppelganger of Friend.tech, the price of AVAX has skyrocketed by an astonishing 8% and counting. The decentralized social media juggernaut known as Stars Arena has triggered a seismic surge in traffic on Avalanche’s C-Chain network. As this network activity experienced an exponential uptick, the native AVAX token’s value surged by an impressive 8% in the preceding 24 hours.

Stars Arena, a brainchild inspired by Friend.tech, made its debut in late September and has witnessed an astonishing 186% surge in daily transactions on the Avalanche C-Chain in the past 48 hours. Mirroring this meteoric rise, the Stars Arena application has also experienced exponential growth, boasting an impressive roster of over 10,000 unique active wallets. Over the same two-day span, the platform has facilitated a staggering $3.26 million in total trading volume, with an impressive tally of more than 462,000 transactions, according to data sourced from DappRadar.

In the parallel universe of decentralized finance (DeFi), data from DefiLlama reveals that Stars Arena has vaulted past the $1 million milestone in total value locked (TVL). However, it’s worth noting that this achievement, remarkable in its own right, still pales in comparison to the juggernaut that is Friend.tech, commanding an awe-inspiring $44.27 million in TVL.

Not unlike its muse, Friend.tech, Stars Arena offers users the ability to seamlessly connect their X (Twitter) accounts to the platform. Users can then leverage the AVAX token to acquire “tickets” from fellow users, with a fraction of the transaction fees channeled to both the platform and the users when tickets change hands. Yet, here’s where the path diverges: while purchasing a user’s ticket grants access to a private chat, Stars Arena differentiates itself by featuring a public feed, eliminating the need for users to fork out substantial sums of money to engage with others.

A pseudonymous X user, operating under the moniker Wale.swoosh, effused praise for Stars Arena, describing it as “superior to Friend.tech in a myriad of ways.” The inclusion of a public feed, in particular, fosters a more sociable environment compared to the Base-based DeSo application. Nevertheless, it’s essential to acknowledge that Wale.swoosh and numerous other X users highlighted persistent issues, notably the application’s susceptibility to lag in chat interactions and the glaring absence of comprehensive information regarding the development team.

Stars Arena now joins the ranks of an ever-expanding constellation of social finance platforms, including Alpha on the Bitcoin network, Friendzy on Solana, and PostTech on Arbitrum. Amidst this burgeoning landscape, it’s worth noting that Friend.tech continues to reign supreme as the market leader, boasting a staggering monthly trading volume exceeding $293 million—outshining its closest competitor, PostTech, by an astonishing margin of more than $283 million.