Aave Plans To Build “Twitter on Ethereum”

Aave Plans To Build “Twitter on Ethereum”

Aave founder Stani Kulechov has proposed to his crew to develop an Ethereum-based Twitter version. He stated his suggestion in replying to Jack Dorsey’s plan on developing a new platform for DeFi on Bitcoin.

The Aave founder posted his vision on Twitter on Ethereum after the tweet that Jack Dorsey posted recently. Regarding his creation of a new Bitcoin (BTC)-centric financial services platform that bears striking resemblance to Aave.

Dorsey announced on Thursday that Square Inc., his mobile payment company, would be launching a new venture. Consequently, the primary goal of the platform is to make it easy to create non-custodial, permissionless, and decentralized financial services.

Moreover, Dorsey confirmed that the platform would primarily focus on Bitcoin and the venture will be called “TBD”. At the time of publication, that tweet had over 34,000 likes, indicating that Bitcoin would be the primary focus.

Is Aave Serious About the Decision?

Significantly, it is unknown whether Kulechov’s tweet about Twitter on Ethereum is serious. Despite this, he stated that Jordan Lazaro Gustave, co-founder of Aave, will lead the effort.

Kulechov implied in his response that Dorsey’s business concept is similar to Aave, an open-source, non-custodial DeFi protocol that allows users to borrow assets and earn interest on deposits.

Aave has appeared as one of the market’s most widely known DeFi protocols, with demand for its services increasing even among traditional investors. Following the creation of an open-source BTC hardware wallet, Dorsey has come-up with a new venture bringing DeFi to Bitcoin. Additionally, the entrepreneur has highlighted the significance of self-custody as well as the need to onboard new crypto users via mobile technology.

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