- Aave protocol introduced decentralized social media building platform Lens Protocol.
- Developers can build decentralized social media platforms for Web3.
- The protocol is developed on the Polygon Mumbai testnet.
Aave Protocol finally launched a new decentralized social media protocol Lens Protocol to help developers to build social media platforms similar to Twitter on a decentralized network.
The company defines its platform as a “permissionless, composable, & decentralized social graph that makes building a Web3 social platform easy.”
The protocol is developed on the Polygon Mumbai testnet. Alpha main net launch is yet to be disclosed.
Aave protocol is one of the leading lending protocols and it has been significantly investing its capital and resources in the development of Lens protocol since last summer.
On January 20, The company indicated its foray into the decentralized social media world.
Right now, permissionless social media platforms are the hot topic for discussion. The world is shifting over web 3 developments and innovation, at this time sticking with conventional thoughts is worthless.
Recently, Ethereum Name Service core team member Brantly Millegan was terminated from the company after his old tweets on homosexuality and transgenderism goes viral on the internet. The move launched a heated debate about the nature of censorship in Web 3.
The name Lens was derived from the organic plant Lens Culinaris which has a symbiotic relationship with certain soil bacteria. If the roots are left in the ground, they will provide a source of nitrogen for its neighbor.”
The protocol allows developers to build and create decentralized social media platforms on its network, which are also accessible for users. non-fungible tokens lie at the heart of Lens.
As per the announcement thread: “Profile NFTs are the main primitive of the Lens Protocol. These dynamic NFTs are composable, non-custodial & permissionless. Individual addresses can own profile NFTs, an address can have multiple profiles NFTs & a profile NFT can be owned & run by a DAO via a multisig wallet!”
Aave founder Stani Kulechov stated in an interview that “The cool part is that every app will expand the social graph, essentially there is less need for developers to growth hack for users, instead the focus can be shifted towards better and more humane user experience,”
As per the Lens website, users can create their NFT-based profiles similar to current social media platforms, where users can store publications, and follower history. The platform will also allow users to access built-in governance for groups of mutual followers.