In the low key, Tesla and Musk started receiving DOGE on their website approximately in early May 2024. The inspiration for the new functionality came from the queries that Musk asked during his visit to the Berlin gigafactory about whether it would be possible to allow DOGE payments. Why don’t we make it feasible? Musk said in response. Later, Tesla wallet users can send DOGE to purchase Tesla items. In the subsequent days, the price of DOGE increased by over 20%, despite Tesla not having confirmed the decision officially. It was easily spotted by DOGE enthusiasts.

Besides, X and Musk have been obtaining licenses in various states in the USA. They have 25 permits now, but that number is growing each month, as the study shows. Certain licenses are needed to enable P2P payments, such as Cash App and Venmo. Furthermore, even before he purchased X, Musk has an interesting story in his biography about when he wanted to offer DOGE as a payment option on a social networking site. The money transmitter licenses could be interpreted as the fact that the X team is getting ready to receive DOGE as a payment on the platform.

DOGE on X: Musk’s P2P Payment Ambitions

X.com was started by Musk in the early 2000s for banking and payment purposes. Following the company’s merger with Confinity, Musk was briefly in charge of operations as CEO of the newly rebranded PayPal. Going to 2024, Musk plans to complete the loop by returning the pay feature of the original X.com.

Musk’s motives are clear: he wants to bring DOGE on the X platform as a P2P payment option. It might be rather hard because of the many regulatory restrictions. The obtaining of the payment licenses is a tiresome and lengthy procedure. However, Musk is willing to turn the app into a payment system and get close to his long-gone idea of an all-in-one app.

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“This change is still ‘dogfooded’ by staff, though I am not directly part of it.” On April 29, X software engineer Ellis Driscoll stated that customers should anticipate some phase-in over the following weeks where UX might change.

The first person to publish a demo video of the unpublished user experience (UX) was Christopher Stanley, head of payments at X, which contained an ‘exploding menu’ that included likes and reposts under a separate menu on the home screen. Driscoll’s remarks followed this video.

Driscoll pointed out that Stanley only showed the “more” option within the film, not the overall user experience (UX) for X users. He believes that “simple gestures” will form part of the functionality of the new UX.

Loading is better than being equivalent. He also pointed out that reactions should be faster.

Worth noting is that the X user will still be able to see the number of likes and reposts on any post, but he or she will have to select each post one at a time for these metrics.

Stanley noted that the new design is “sort of like a video game interface,” and it enables users to swipe through posts to select them.

To ease concerns that the app was affecting the users’ mental health, Instagram hid public like counts (now “hearts”) in 2021, hurrying the competitiveness based on the likes among the younger audience of Instagram.

X has not given a significant explanation why likes have been removed so far, but on the other hand, Stanely has mentioned a few comments that suggest that the new features will improve the UX and maximize the screen real estate, among others.

A lot of X accounts have argued that the new format would put an end to the avalanche of engagement-oriented messages, but refocus attention on the actual content of the postings.

At the same time, some users have expressed concerns that the new function, which resembles Instagram and TikTok, might enable the social media platform to promote content that appeals to their internal teams without giving any information to users as to why a post is trending.

The post X Tests Removing Likes and Reposts from Timelines appeared first on Coin Engineer.

X’s Vision for a Seamless Financial Experience

Users were about to use the platform to pay money, buy things and even earn interest on their account balances, the head of payments of the company, Christopher Stanley, said. Stanley stressed that the forthcoming payment functionalities would be more than just peer-to-peer transactions, picturing an app wallet not unlike the ones used by such popular services as Venmo.

“That is Venmo at first. Then you start to earn interest, buy things, and eventually be able to use it in stores (think Apple Pay),” described Stanley, describing the bold trajectory of the platform.

This announcement comes after X recently acquired a money transmitter license in Tennessee on April 9, which brings it to a total of 25 states within the US. Administrative challenges continue and this time Elon Musk, the executive chairman of X, who had earlier announced the plans to launch a new payment in-app by mid of 2024, did it to show this company’s resilience. “The end goal is if you ever have any reason to remove money from our system, then we have failed,” Stanley stressed, emphasizing the platform’s holistic financial ecosystem.

Elon Musk’s Ambivalence Towards Crypto Integration

Although initially X’s payment system will concentrate on the traditional fiat currencies but there is a lot of wild speculation about possible crypto integration. Musk, despite his historical preference for cryptocurrencies, was reflected by huge bitcoin holdings of Tesla, is skeptical about the role of crypto in X. Talking to ARK Invest CEO Cathie Wood, he said he doesn’t really think about cryptocurrencies much and their implications.

Whereas X seeks to redefine digital transactions, the level of integration between it and cryptocurrencies is still an open question. But focused on transforming financial interactions, X is ready to redefine the meeting point of social media and finance.

The post X Unveils Ambitious Plans for In-App Payments, Eyes Financial Ecosystem appeared first on Coin Engineer.

Stars Arena, operating on the Avalanche network and known as a decentralized social media (DeSo) or another popular name, SocialFi application, is experiencing a noticeable growth and impact recently. This platform, launched at the end of September, runs on a blockchain specially designed for the Avalanche ecosystem taking inspiration from similar applications.

You Might be Interested: What is Stars Arena?

Stars Arena, which has caused an increase of more than 186% in activities on the Avalanche C-Chain network in the last two days, has led to an increase of more than 8% in the value of the local AVAX token with this rise. The platform recorded impressive growth on the Avalanche C-Chain, which is specially designed to run smart contracts.

The Transaction Volume Has Reached $3.26 Million In Stars Arena (SocialFi)

According to the latest published data, there are currently more than 10,000 unique active wallets on the platform. According to DappRadar‘s data, the total transaction volume on the platform in the last two days exceeded $3.26 million. Besides, it has done a little over 462,000 transactions.

The DefiLlama data, used to measure Stars Arena’s impact in the DeFi field, shows that the total locked value (TVL) of the platform has exceeded 1 million dollars. However, this figure is still lower when compared to the TVL of 44.27 million dollars of similar platforms.

The platform has adopted a model that allows users to integrate their X (Twitter) accounts. While users use the AVAX to purchase other users’ “tickets”, these transactions bring a small fee cut to the platform.

Stars Arena offers users a unique experience where buying tickets provides access to private chats. Unlike similar applications, the growth and impact of Stars Arena are making a significant contribution to the Avalanche ecosystem.

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