Aave Targets Decentralized Social Media Projects With New Protocol

Aave Targets Decentralized Social Media Projects

DeFi protocol Aave has launched a permissionless, decentralized social protocol that simplifies the building of Web 3.0.

The project, dubbed Lens, aims to support multiple social media platforms on a common protocol layer, emphasizing non-fungible tokens.

Aave has announced that the protocol is live on the Polygon Mumbai testnet and will unveil an alpha mainnet launch in the future.

Profile NFTs would be the primary assets on the Lens Protocol. The NFTs would be composable, non-custodial, and permissionless. Individual addresses can own multiple profiles NFTs managed by a DAO through a multisig wallet.

Aave notes that it has allocated a significant amount of resources to the project, which began in 2021.

Source: The Block

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