Avalanche, the popular blockchain network, experienced a remarkable surge in transaction activity, reaching a staggering 577,000 transactions, marking its highest point in the past quarter. This unprecedented uptick in activity can be attributed to the recent launch of Star Arena, a social software platform inspired by Friend.tech.
Star Arena’s Impact on Avalanche
Star Arena made its debut in late September, quickly establishing itself as a thriving hotspot on Avalanche’s C-Chain. This blockchain component is specifically designed for executing smart contracts on the Avalanche network. Within a span of just two days, the platform experienced an incredible 200% surge in daily transactions.
With over 12,000 unique active wallets now on the Star Arena platform, it is evident that the user base is expanding rapidly. Over the last 48 hours, the platform facilitated millions in total trading volume and processed more than 454,000 transactions, according to the latest data.
Star Arena not only demonstrates exceptional transactional prowess but also achieves a commendable milestone by reaching over $1 million in total value (TVL), as per data by DefiLlama. However, it’s important to highlight that this accomplishment falls short of the remarkable $44.27 million in TVL held by the influential Friend.tech.
Like its inspiration Friend.tech, Star Arena allows users to easily connect their Twitter accounts. By utilizing the AVAX token, users can purchase “tickets” directly from other users. A portion of the transaction fees is allocated to the platform itself, ensuring benefits for both the platform and its users when tickets are bought and sold.
However, a notable distinction lies in the fact that, unlike Friend.tech, Star Arena features a public feed. This feature enables users to follow others without the need for significant financial commitments, further enhancing the platform’s appeal.
The launch of Star Arena has undoubtedly injected fresh energy into the Avalanche chain, fostering a thriving ecosystem of social interaction and financial transactions. As the platform continues to evolve, it remains a space to watch for blockchain enthusiasts and social networking aficionados alike.
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