Decentralized finance (DeFi) project Aave has announced the launch of Lens Protocol, a decentralized social media (DeSo) platform on Polygon, to expand its operations and explore new opportunities. The company aims to create a self-sustaining economy that has an equitable relationship with its users. The open-source “Web3, smart contract-based social graph” is based on an ecosystem of dynamic non-fungible tokens (NFTs) and is named after ‘Lens Kalinaris’, a plant that has symbiotic interactions with soil microorganisms. Conversation takes place.
Users can create NFT-based profiles, which will contain a history of all posts and comments as well as other content that you will generate while following you on the Forum and being represented by NFT. Users will own their own data on Lens while other applications can plug in to the open social graph.
2/ Today everything changes. We are excited to introduce the Lens Protocol – a permissionless, composable and decentralized social graph that simplifies the creation of a Web3 social platform.
dig in https://t.co/UTTngajt2f
— LensProtocol.eth (@LensProtocol) 7 February 2022
When someone generates followers on the platform NFTOther users may collect work published by collectors and republish it through a mirror feature, which acts as a referral link and deducts from anyone who collects original content through the mirror will earn
The lens protocol will also explore considerations that include Decentralized Autonomous Organization (DAO) Profile and social-based verification according to the website. AAVE’s social media foray has been planned for a while now and founder and CEO Stany Kulekov revealed that DeFi Giant is planning an alternative Twitter, The initial plan was to launch the platform on Ethereum, but the launch suggests that the Lens Protocol Layer 2 scaling solution was built on Polygon.
Kulechov announced the Lens protocol on Twitter, saying, “We believe that content creators should position their audiences in a permissionless fashion where anyone can create new user experiences using similar on-chain social graphs and data.” Is.”
“Twitter makes all the revenue from your Tweets and the content you share, and Twitter decides which of your Tweets gain traction through algorithms,” he said.
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