Aave launches Web3 social media platform, Lens Protocol

Aave (AAVE), the decentralized concern lending platform, launched the Lens Protocol ecosystem connected the Polygon (MATIC) blockchain arsenic their mode to situation centralized societal media platforms similar Twitter oregon Facebook. What started with an open letter to garner enactment astir the thought that contented creators should ain and power their integer identities, led to processing a Web3-native societal web powered by NFTs.  

In a Twitter Spaces speech the institution hosted this week, Stani Kulechov, CEO and Founder of Aave, described the ngo down Lens Protocol.

"We wanted to physique a societal media protocol, oregon fundamentally a societal graph, and marque those profiles on-chain, pursuing the relationships on-chain and creating a permissionless mode to administer contented betwixt a creator and the audience."

Kulechov and his developer squad dug into the problems with existent societal media platforms. According to 1 of the developers who goes by @Zer0dots connected Twitter, "We're people. We're not products. We're not numbers nor information points." He's referring to contented connected users' feeds, whether it's a photograph connected Instagram oregon a Tweet, that Meta oregon Twitter tin merchantability arsenic information to marketers. He described however Lens Protocol wants to marque the determination distant from "users being the products" to giving creators capable ownership to take however their contented is distributed.

1/ Something is blooming... https://t.co/UMUs3qT3SD

— LensProtocol.eth (@LensProtocol) February 7, 2022

Basically, the protocol enables users to make a profile, which is simply a afloat composable NFT. These dynamic NFTs incorporate the past of each posts, reposts, comments, and different contented generated including music, commentary, art, photography and video. A cardinal quality is that profiles are tied to a wallet address, and owners tin take however to monetize their content. A follower tin besides cod idiosyncratic else's work and person a tradable travel NFT.

"And you tin take who gets to cod them," said @Zer0dots. "You tin take what logic gets executed. Is determination is simply a fee? Is it a bonding curve that is subscription? Or is it lone circumstantial addresses you want? There's truthful galore antithetic options."

During the Twitter Spaces session, the Aave squad besides suggested the anticipation of turning profiles into a decentralized autonomous organization, oregon DAO. A follower tin opt successful to person voting and delegation powerfulness implicit what could beryllium a DAO profile.

Related: First cross-chain governance connection passes connected Aave

Aave likened this caller ecosystem to an unfastened root "developer garden" wherever they invitation the assemblage to "grab fertilizer" and physique upon the protocol, thing from societal apps and analytics platforms to DAO tooling. The company's extremity is to reflector real-life societal enactment that isn't tied to a platform's changing algorithms and policies.

For now, the Lens Protocol codification is disposable to trial connected the Polygon Mumbai Testnet. According to Kulechov, Polygon was the concatenation of prime owed transaction velocity and outgo effectiveness, and since applications tin beryllium deployed to immoderate chain because it's Ethereum Virtual Machine compatible.