Aave launches a social media DApps platform at Polygon

Aave launches a social media DApps platform at Polygon

Aave (AAVE) announced a new project called Lens Protocol that focuses on helping developers create decentralized social networking applications (DApps) in the Polygon blockchain.

In addition to DApps social media, the creators of the Liquidity Market Protocol intend to use non-fungible token (NFT) technology in conjunction with Lens’ open source blockchain technology to enable developers to create markets, algorithms for recommendation and other applications. According to Aave, this will allow users to fully own their own data and offer creators new monetization opportunities.

The Lens protocol allows users to have a single Lens profile that can be used across multiple DApps on the Lens platform. With this, users who are able to coin Lens NFT profiles will be able to access the 50 applications that will start with the Lens protocol at launch. To promote the creation of more apps on Lens, Aave has also created a $ 250,000 grant program to fund developers who want to create apps on the platform.

Stani Kulechov, CEO and founder of Aveve Companies, believes people are ready for a new social media experience, as evidenced by reactions to Elon Musk’s bid to buy Twitter. Kulechov explained:

“The social media experience has remained relatively unchanged over the last decade, and much of it is because your content is the sole property of a company, which closes your networks. social media on a platform “.

Aveve CEO also noted that ownership of content created online is “a long time ago.” In addition, Sandeep Nailwal, co-founder of Polygon, agreed with Kulechov’s idea and said that Polygon is in line with Lens’ goal of promoting “secure ownership of content.”

In April, Kulechov was fired from Twitter hours after jokingly tweeting that he would join Twitter as interim CEO. The ban was lifted the next day when Kulechov tweeted another joke saying he had returned as interim CEO of the company.

Aave (AAVE) has announced a new project called Lens Protocol that focuses on helping developers create decentralized social networking applications (DApps) in the Polygon blockchain.

Aside from social media DApps, the creators of the Liquid Market Protocol aim to use non-consumable token (NFT) technology in conjunction with Lens open source blockchain technology to enable developers to create markets, recommendation algorithms, and other applications. According to Aave, this will allow users to fully own their own data and offer creators new monetization opportunities.

The Lens protocol allows users to have a single Lens profile that can be used across multiple DApps within the Lens platform. With this, users who can coin Lens NFT profiles will be able to access the 50 applications that will be published to Lens Protocol at launch. To encourage the creation of more apps on Lens, Aave also created a $ 250,000 grant program to fund developers who want to create apps on the platform.

Stani Kulechov, CEO and founder of Aveve Companies, believes people are ready for a new experience on social media, as evidenced by reactions to Elon Musk’s bid to buy Twitter. Kulechov explained:

“The social media experience has remained relatively unchanged over the last decade, and much of it is because your content is the sole property of a company, which closes your social network. within a platform “.

Aveve CEO also noted that ownership of content created online is “a long time ago.” In addition, Sandeep Nailwal, the co-founder of Polygon, agreed with Kulechov’s idea and said that Polygon aligns with Lens’ goal of promoting “secure content ownership.”

Related: Spotify tests NFT galleries on music profiles

In April, Kulechov was fired from Twitter hours after jokingly tweeting that he would join Twitter as interim CEO. The ban was lifted the next day when Kulechov tweeted another joke saying he was returning as the company’s interim CEO.

Follow us on social media

Follow our profile at Instagram and no telegram to receive first hand news!

Leave a Comment

Your email address will not be published.