Aave team launches Web3 social media protocol Lens

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Summary:

• Summary:

• The team behind Aave launched Lens, an NFT-based social media protocol.

• Lens will use NFTs to manage data, including user profiles, publications, and relationships with fans.

The team behind DeFi platform Aave has launched the Lens testnet. Lens is a social media protocol that relies on NFTs for data management.

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Lens will facilitate user data ownershiptoday's announcement

Describes Lens as a social media platform "powered by NFTs, so you own and control all your content."

For end users, the experience will be similar to traditional social media. However, certain data will be represented by NFTs, such as user profiles and follower relationships. It is reported that when users follow someone, they will get Follow NFT.

This will allow users to monetize this data and manage it freely. For example, a user could hold multiple profile NFTs in one encrypted wallet, sell NFTs representing fan relationships, or manage DAO votes by using Follow NFTs.

Additionally, users will be able to create various "publications" such as posts and comments. Users can also create mirrors of content, which appears to be similar to retweets on Twitter.

Although production data will be stored on-chain, the protocol will also support IPFS hosting for off-chain storage of large files such as videos, music, and images., calling itself a "permissionless, composable, and decentralized social graph" that can be used to easily build Web3 social platforms.

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Connections between Lens and Aave, Polygon

Lens Protocol has strong ties to DeFi protocol and crypto lending platform Aave. Aave has a total lock-up of $11 billion.

Aave acknowledged today that Lens was created by the Aave protocol development team.

Aave founder Stani Kulechov also confirmed that "the Aave team launched the Lens Protocol" and changed his Twitter avatar to the Lens icon. Kulechov was also one of the first to come up with the idea of ​​a social networking protocol in January 2021.

Despite these connections, Lens does not appear to be built directly on the Ethereum network like Aave. Instead, it’s built on top of Ethereum’s second-layer network, Polygon.