⭐ StarsArena Insights Dashboard

    Stars Arena is a Social-Fi dApp deployed on Avalanche. This comprehensive dashboard is your one-stop destination for gaining deep insights into the StarsArena performance and closer look at its recent challenges.

    Introduction

    Welcome to the "StarsArena Insights Dashboard," that provided you to explore the universe of StarsArena, a groundbreaking SocialFi project that has captured the attention of the crypto galaxy. This comprehensive dashboard is your one-stop destination for gaining deep insights into the project's performance and closer look at its recent challenges.

    Key Metrics to Explore:

    • Total Value Locked (TVL): Delve into StarsArena's financial backbone, tracking the total value locked within the ecosystem to understand its growth and stability.
    • Transactions: Analyze the frequency and scale of transactions within StarsArena, providing valuable insights into user engagement and adoption.
    • Wallets: Discover the distribution of wallets within the StarsArena network, identifying trends in user participation and address activity.
    • Volume: Explore the trading volume within StarsArena, uncovering liquidity trends and market activity.
    • Protocol Fee: Understand the economic sustainability of StarsArena by examining protocol fees generated over time.
    • Creator Earnings: Investigate the earnings for creators, gaining a deeper appreciation for StarsArena's innovative incentives.
    • User Activity: Dive into the activity of StarsArena's user base, highlighting top users based on earnings and sharing, offering a glimpse into the thriving social dynamics.

    Hacking Incident:

    In addition to the core metrics, our dashboard also provides a thorough review of the unfortunate hacking incident that occurred on October 7, 2023. We'll explore the details, impact, and response to this event, shedding light on the resilience and adaptability of the StarsArena ecosystem in the face of adversity.


    ⭐ Stars Arena is a Social-Fi dapp deployed on Avalanche.

    The StarsArena Wordart has been forked from Antonidas

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    ⭐ StarsArena

    What is SocialFi?

    SocialFi, portmanteau for “social finance”, is the latest Web3 product that combines principles of decentralised social media and decentralised finance (DeFi). 

    The goal of SocialFi is to allow social media influencers to fully monetise their social media footprint. This may include social media posts, following, follower interactions, and so on.

    You may see some sort of overlap with existing decentralised social media platforms like Mastodon or in the future, Threads. However, with SocialFi, more emphasis is placed on the financial component. On top of allowing users to own and control their data, SocialFi aims to provide more opportunities for monetisation by converting an influencer’s audience into ‘‘shares’’ – yes, like the stock market. More on this below.

    What is Stars Arena?

    Stars Arena is the latest SocialFi platform, launched on the Avalanche blockchain network. It is a little over two weeks old. The platform has already registered over 10,000 unique active crypto wallets.

    Stars Arena’s ecosystem is underpinned by Avalanche’s native crypto token, AVAX. This means that all transactions on the social media site are facilitated by AVAX.

    On Stars Arena, users have to first register for an account and login via X. Once that is done, users can purchase AVAX tokens and start engaging with their favourite influencers on the platform.

    Stars Arena takes influencer monetisation a step further, and turns an influencer’s following into “tickets”. How does it work? With AVAX, users can buy and own a teeny tiny ‘‘piece’’ of an influencer’s Stars Arena profile – that wee ‘‘piece’’ is called “tickets”. With a ticket, users gain access to a variety of exclusive content, or even interact one-on-one with their favourite influencer.

    Each AVAX token has a starting price of US$0.066 (AU$0.10), and each ticket has the same starting price. The more engagement someone has with their followers on Stars Arena, the more valuable their account becomes, and the cost of their ticket rises. An influencer could generate more income from tickets as a result.

    In addition, regular users on Stars Arena who dream of becoming influencers themselves are encouraged to engage and build a following.

    Stars Arena is a fork of its successful rival, friend.tech. In Web3, a “fork” happens when developers create a new cryptocurrency with code from an existing crypto project. In this case, instead of crypto code, it’s code from another SocialFi platform.

    The hack

    In early October, Stars Arena was hacked for US$3 million (AU$4.70 million) due to a smart contract exploit. The SocialFi platform shared a post on X confirming news of the breach, and warned users to not deposit funds.

    Source

    Methodology

    The methodology section of this dashboard is crucial for understanding how the StarsArena data is acquired and processed, especially when using SQL queries with Flipsidecrypto data. Here's a breakdown of the methodology section you provided:

    1. Data Source: The data for the StarsArena dashboard is sourced from Flipsidecrypto using the avalanche.core schema and the fact_event_logs table.

    2. Contract Address: The specific contract address on the Avalanche blockchain for Stars Arena: Shares is "0xa481b139a1a654ca19d2074f174f17d7534e8cec." This address serves as the focal point for collecting data related to the StarsArena project.

    3. Transaction Selection Criteria: To retrieve relevant data, specific criteria are applied to filter transactions. The chosen criteria are as follows:

      • topics[0] is compared to the hexadecimal value '0xc9d4f93ded9b42fa24561e02b2a40f720f71601eb1b3f7b3fd4eff20877639ee'. Represents an event signature or topic relevant to StarsArena.
      • origin_to_address is matched with the Stars Arena contract address ('0xa481b139a1a654ca19d2074f174f17d7534e8cec') to ensure the data relates specifically to Stars Arena: Shares.
    4. Data Decoding: After filtering the relevant transactions, the data field within these transactions is decoded to extract key information. The data decoding process involves:

      • Extracting a specific hexadecimal substring within the data field (e.g., substr(data, 3 + 64 * 4, 64)).
      • Converting the hexadecimal value to an integer using the ethereum.public.udf_hex_to_int function .
    5. Data Fields: Three specific data fields are extracted and processed:

      • share: Represents the amount of StarsArena shares involved in the transaction.
        • Decoding: ethereum.public.udf_hex_to_int(substr(data, 3 + 64 * 4, 64)) * pow(10, -18)
      • protocol_fee: Represents the protocol fee associated with the transaction.
        • Decoding: ethereum.public.udf_hex_to_int(substr(data, 3 + 64 * 5, 64)) * pow(10, -18)
      • creator_earnings: This represents the total earnings for creators
        • Decoding: ethereum.public.udf_hex_to_int(substr(data, 3 + 64 * 6, 64)) * pow(10, -18) + ethereum.public.udf_hex_to_int(substr(data, 3 + 64 * 7, 64)) * pow(10, -18)