The leading lending protocol Aave’s decentralized social media protocol titled the Lens Protocol officially goes live on Polygon.
Aave founder Stani Kulechov announced Lens Protocol’s launch at the Permissionless DeFi conference in Palm Beach, Florida.
Lens was initially introduced in February by Aave to help developers to build social media platforms similar to Twitter and Meta on a decentralized network.
On Lens Protocol more than 50 applications have been launched, including Lenster, Lens Booster, SpamDAO, GoldenCircle, PeerStream, Swapify, Social Link, etc.
Each creator gets their own NFTs in Aave’s Lens Protocol. These profile NFTs connect with the 50+ platforms available at launch and link it to their followers and communities.
For identification and monetization, the Lens Protocol uses crypto addresses and NFTs. So now users manage the content and personal data linked with accounts in this system.
Aave has also announced a $250,000 grant programme to support projects developing Lens-based decentralized applications (dapps).
Despite the fact that Polygon was designed for higher scalability, it has previously experienced congestion due to games that caused a surge in network activity.
In response to the scalability issue, Kulechov stated that the protocol will look into other Layer 2 options, both on Polygon and Ethereum, in order to meet scaling requirements.
He noted, “Eventually many networks such as Polygon (and Ethereum) will scale over L2 networks by inheriting the security from the underlying network. That would be the path for Lens Protocol over the long term once there is sufficient protocol marketfit.”
Twitter temporarily suspended Kulechov after he teased that he would be the platform’s interim CEO following Musk’s planned acquisition. After his account was restored, he noted that activities like these from social media behemoths inspired Aave to work on Lens Protocol.
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