Stars Arena On Avalanche Reaches $1M TVL Amid SoFi Trend

After the booming success of Friend.tech on Ethereum, several chains have also seen other decentralized social applications.

Stars Arena, a decentralized social finance application on Avalanche, has surpassed $1 million in TVL within 2 weeks of its launch.

Stars Arena has a current TVL of $1.17 million, and it has grown 150% in the past 24 hours, according to data from DeFiLlama.

Similar to Friend.tech, the functionalities of Stars Arena enable users to connect their Twitter account to and buy or sell other user’s profile tokens using AVAX. Users can deposit AVAX into their automatically generated wallet and start exploring the social platform.

The platform currently announces plans to release features such as private chats, pay-to-view posts, and audio/video integrations for its users.

The SoFi trend set by Friend.tech continues to rise as leading chains record a boom in their ecosystem’s decentralized social applications. In recent times, several decentralized social applications have emerged, including Friendzy on Solana and Alpha on Bitcoin.

Also Read: Friend.tech Surpasses $50M TVL, Reaches 10,000 ETH In Revenue

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