Stars Arena On Avalanche Reaches $1M TVL

The Friend.tech-like decentralized social application on Avalanche, Stars Arena surpasses $1 million in TVL within days of its launch.
Stars Arena On Avalanche Reaches $1M TVL
Stars Arena On Avalanche Reaches $1M TVL

Within two weeks of its September 21 launch, Stars Arena, a decentralized social finance application on Avalanche, had reached $1 million TVL.

According to data from DeFiLlama, Stars Arena currently has a TVL of $1.17 million and has increased by 150% during the last day.

In a manner similar to Friend.tech, Stars Arena’s capabilities allow users to link their Twitter accounts and purchase or sell other users’ profile tokens using AVAX. Users can explore the social site by adding AVAX to their automatically created wallet.

With aspirations to roll out features like private chats, pay-to-view posts, and audio/video integrations, the site presently allows users to follow other users.

As big chains report a spike in the decentralized social applications in their ecosystem, the SoFi trend started by Friend.tech is still growing.

Decentralized social programs have proliferated recently, such Friendzy on Solana and Alpha on Bitcoin.

Also Read: Friend.tech Exceeds $50M TVL, Revenue Hits 10,000 ETH

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