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Avalanche Protocol founder also enters the scene, friend.tech's forked version Stars Arena is quickly growing.

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Avalanche Protocol founder also enters the scene, friend.tech

friend.tech fork version Stars Arena has been launched on the Avalanche protocol, injecting new energy into the sluggish on-chain activities of Avalanche.

The hottest application on the Base chain! Decentralized social platform Friend.Tech airdrop strategy and beginner's guide.

friend.tech Fork Version Stars Arena Released

The social platform Stars Arena was launched on Avalanche C-Chain at the end of September, with functions similar to friend.tech. Similar projects include:

Users need to link their Twitter accounts with Stars Arena to start trading personal tokens on the platform.

Although Stars Arena's TVL is only $1.05 million, it has surpassed many competitors and is second only to friend.tech's $45.27 million. Stars Arena's high trading volume has also attracted attention.

Avalanche founder Emin Gün Sirer is also involved in this project.

Significant Growth in Stars Arena's Seven-Day Data

According to DappRadar, various data for Stars Arena in the past seven days have shown significant growth:

  • Daily Active Users: 15,000 +742%

  • Number of Transactions: 673,900 +995.88%

  • Transaction Volume: $4.75 million +2,597.82%

Stars Arena Data

Stars Arena Boosts Avalanche Ecosystem and AVAX Price

In addition, the on-chain transaction volume of Avalanche doubled in the past 3 days to 549,000 transactions, an increase of about 116%. The Avalanche token AVAX also rose by approximately 10%.

Avalanche AVAX Monthly Chart

Such a phenomenon seems to slightly highlight the trend of protocols gradually dominating public chains, but also raises concerns that a protocol with only $1 million TVL can double the on-chain transactions of a public chain.

According to DefiLlama, the decentralized exchange Trader Joe with the highest TVL on Avalanche has transactions of around 8,000, showing that on-chain activities on public chains appear to be more subdued in bear markets.