Decentralized social media (DeSo) application, the Stars Arena, a clone of Friend.tech, has given a strong push to Avalanche in terms of network activity. Amid growing usage, the price of the network’s native AVAX token has also swelled more than 8% in just 24 hours. Originating in late September, the platform is designed in the image of Friend.tech and has managed to spur the total number of daily transactions on the Avalanche C-chain by over 186% over the last two days.
With over 10,000 unique active wallets, Stars Arena also saw more than $3.26 million total trading volume, with around 462,000 transactions in the past couple of days. However, this does come with its fair share of skepticism. Despite its rapid growth, it falls short in comparison to Friend.tech’s impressive $44.27 million in Total Value Locked (TVL), casting a shadow on the platform’s overall potential.
The workings of Stars Arena are quite much like Friend.tech, where users are allowed to link their Twitter accounts to the platform. They can then purchase other users’ “tickets” using the AVAX token, with a part of the fees being paid to both the platform and the users when these tickets exchange hands. While this integration of social interaction and finance does offer potential growth, questions arise as to how sustainable its growth might be considering it is still in the early stages.
Pseudonymous user Wale.swoosh has raised concerns about the platform being “very laggy” and the lack of information on the team behind the application. Such limitations could potentially hinder the platform’s growth, throwing it in direct competition with other similar platforms such as Alpha on the Bitcoin network, Friendzy on Solana and PostTech on Arbitrum.
Side by side, Friend.tech remains dominant in the market, leading with over $293 million monthly trading volume, which is substantially more than the next closest app, PostTech. This comparison forces one to ponder whether friend.tech inspired platforms such as Stars Arena can keep up with the competition. With potential limitations looming overhead, only time will tell how far this Friend.tech clone can go.
Source: Cointelegraph
