By 
Open source protocol Aave has unveiled a new development that caters to developers looking to establish social network decentralized applications on Polygon.
Source: CoinTelegraph
AAVE is down 4.82%, while BITO is down 2.36%.
Dubbed the Lens Protocol, the offering seeks to utilize nonfungible tokens (NFTs) in line with the open-source blockchain technology to allow developers to establish marketplaces and recommend algorithms.
The protocol will enable users to take full ownership of their data and provide monetization opportunities. It will have a single Lens profile which can be used through decentralized applications on the Lens platform.
The protocol will also allow users to access the 50 applications that will be released during the launch and provide a $250,000 grant program to developers looking to develop applications on the platform.
Aave Chief Executive and Founder Stani Kulechov said users are now ready for a fresh experience on social media, as indicated by the recent bid of billionaire Elon Musk to take over giant Twitter.
Comments