- Aave has set up a $250,000 grant program to help developers.
- Kulechov was banned from the Twitter platform in April.
With the launch of the Lens Protocol, Aave (AAVE) has made it easier for developers of social networking decentralized applications (Dapps) to build on the Polygon (MATIC) network.
Need For Social Media Networking
Non-fungible token (NFT) technology with Lens’ open-source blockchain technology will let developers construct markets, recommendation algorithms, and other applications and social networking Dapps. Aave believes that this will empower consumers to fully control their data and provide new revenue streams for producers.
The Lens Protocol enables users to have a single Lens profile that numerous Lens Dapps may utilize. Users who can create Lens NFT profiles will have access to all 50 Lens Protocol applications when made available. Additionally, Aave has set up a $250,000 grant program to help developers who want to build apps on Lens. According to Stani Kulechov, CEO and creator of Aave Companies, public response to Elon Musk’s plan to acquire Twitter shows that people are ready for a new social media experience.
Kulechov elaborated on this point:
“The social media experience has remained relatively unchanged for the last decade, and much of that is due to your content being solely owned by a company, which locks your social network within one platform.”
After playfully posting that he would be joining Twitter as its temporary CEO, Kulechov was banned from the platform in April. The restriction was removed the next day when Kulechov tweeted another joke about his return as the company’s temporary CEO. According to Aave’s CEO, ownership of internet content is also “long overdue,” according to Aave’s CEO.