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The Avalanche-based cryptocurrency social media platform Stars Arena announced that it has successfully recovered a large portion of the funds lost during the recent security breach. The platform managed to recover almost 90% of the total 266,104 AVAX stolen as a result of the attack.

According to the Stars Arena update, Stars Arena successfully recovered 239,493 AVAX in two separate transactions, each totaling 119,246 AVAX. This represents a significant portion of the total funds initially lost.

The recovery of the funds was possible as a result of a deal between the platform and the hacker. The hacker expressed a willingness to return the stolen funds and cooperate. In a message published on Onchain, the expression “I want to cooperate” was noteworthy.

Stars Arena agreed to pay a reward fee of 10% of the recovered amount in return for returning the funds. It also agreed to pay compensation for 1,000 AVAX lost during the recovery process at a bridge, which brought the total reward amount to 27,610 AVAX.

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The post Good News Came From The Stars Arena Team! appeared first on Coin Engineer.

Following this, the same mechanism started to transition to other blockchain networks. One of them is also the Arbitrum network, which is one of the most reliable Layer 2 networks. As we know, Arbitrum managed to become a favorite network for users. There are approximately $1 billion locked assets on this network. In this case, it was inevitable for SocialFi applications to come over this network. So, what is the leading app on Arbitrum? It’s Post.tech!

But before that, if you wish, you can read this article to get an overall view about the SocialFi bull.

What is Post.tech and how to use it?

Post.tech started its hype on SocialFi on Arbitrum Network as well. The app leading this hype is Post.tech. As a SocialFi application, the working mechanism and interface of Post.tech are almost the same as the others. However, this application has designed a fluid interface resembling Twitter for user convenience. You can view your friends by linking your Twitter account. Also, you can buy or sell their shares. But to do these, you have to log in the application first. First, you need to visit the Post.tech address. Then you will encounter a screen as you see below.

Google or Twitter account is necessary for logging into the account. Entering with Twitter is more feasible. So you can start using the application after that. If you own a certain amount of ETH on the Arbitrum network, the platform will generate a unique address for you.

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In order to buy your friends’ shares and start discussions in their groups, you need to send a minimum 0.001 ETH to this address on the Arbitrum One (Main Network) network. Your balance will reflect on your account usually within a minute or less.

What Should Be Done To Qualify For The Airdrop?

You can access information about it from the “Airdrop” section among the tabs on the left. You can check your scores from the “Statistic” section. Also you can learn ways to earn more points using the Airdrop section. One of the important parts is that you need to have an invitation code to join the application.

Writing Coinmuhendisi invitation code in the space requested on the login screen when entering the application will be sufficient for this. In addition to that, sharing 5 posts on the application, writing 25 answers will be sufficient to increase your score. Besides this, you need to make more share purchases and sales to increase your score.

Attention! When buying, try to buy shares with a value between 40-80 cents. Also, it is not very sensible to buy newly purchased shares. If so, the share you bought is sold by bots or users with a 50% profit, in this case, you get 50% and even more loss.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don’t forget to follow us on our Telegram  ,YouTube and Twitter channels for the latest news.

The post What is Post.tech? SocialFi on Arbitrum Network appeared first on Coin Engineer.