Aave Creators Launch Lens Chain, a Developer Network for Social Media

Key Highlights:

• This Layer 2 platform, designed for developers, is powered by composable features that aim to maximize the economic opportunities of decentralized "SocialFi."

• Lens has formed partnerships with numerous DeFi and infrastructure projects, such as Uniswap, Balancer, LayerZero, Circle, ConsenSys, and Chainlink.

Avara, the parent company of the decentralized finance (DeFi) platform Aave, has unveiled the launch of the Lens Chain mainnet, an efficient and cost-effective Ethereum overlay blockchain designed for creating decentralized social media applications.

A growing number of blockchain-focused, or "Web3," startups are now aiming to offer users an alternative to major, centralized social media platforms like Facebook and Elon Musk's X (formerly Twitter).

To provide better alternatives to current social media giants, a robust protocol foundation is essential, according to Avara CEO Stani Kulechov. This involves offering a developer-friendly Layer 2 environment, powered by composable features that unlock the economic potential of decentralized “SocialFi.”

“The path we’ve taken with Lens over the past 12 months has been to provide the best developer tools for creating on-chain social experiences,” Kulechov said in an interview. “We selected the optimal stack for running Lens Chain, aiming for the lowest possible transaction costs while ensuring adequate security for these social transactions.”

Lens Chain, a system that leverages mathematical proofs to validate the accuracy of batched off-chain transactions, comes with its own stablecoin, Aave’s GHO, for covering gas fees and decentralized data storage. It offers a range of application building blocks, enabling the creation of features like composable social graphs, personalized feeds, and token-gated communities.

The blockchain has formed key partnerships with several DeFi and infrastructure projects, such as Uniswap, Balancer, LayerZero, Circle, ConsenSys, and Chainlink.