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Stars Arena, previously called Starshares, has experienced a significant surge in transactions on the Avalanche network since its late September launch, with over 215,000 transactions recorded on a single day, up from 16,000 daily in September. The platform's transaction volume has also risen dramatically, reaching $1.7 million. Built on Avalanche's Contract Chain (C-Chain) and compatible with Ethereum Virtual Machines, Stars Arena allows users to link their Twitter accounts, trade profile tokens, and link an AVAX address to transfer funds. Although many users praise the platform for being more accessible than Friend.Tech, areas like chat functionality and clarity about the management team need improvement. While Stars Arena has gained traction, Friend.Tech still leads in the social platform space. The popularity of Stars Arena has boosted the AVAX token's value. However, not all are enthused about the platform, with some preferring fewer apps and less screen time.
The Sui Foundation, which manages the Sui blockchain, has unveiled a $51.3 million ecosystem fund to bolster its DeFi ecosystem and the on-chain central limit order book platform, DeepBook. This fund is sourced from reclaiming 117 million SUI tokens from external market makers. The funds aim to foster growth in the Sui ecosystem by providing grants to DeFi app developers and supporting DeepBook, which aims to match the high-frequency trading of platforms like Nasdaq. DeepBook leverages the fast transaction speed of the Sui network, which recently reported a record 65.8 million transactions in a day. The foundation is also keen on backing other native DeFi applications on its network, including AMM-based decentralized exchanges, liquid staking, and lending protocols.