According to Aave CEO Stani Kulechov, Lens Network, the decentralized social media platform, will soon get its first boost as new smart contracts come on board.
According to Aave CEO Stani Kulechov, Lens Network, the decentralized social media platform, will soon get its first boost as new smart contracts come on board.
| Key Takeaways: – Decentralized social media platform Lens Network plans to launch innovative smart contracts. – CEO Stani Kulechov is driving Lens Network’s development under the Avara umbrella, focusing on SocialFi innovation. |
Kulechov started working on Lens Network while he was at Avara. He had also been working on a decentralized social network idea, further catalyzed when he was briefly banned from X, formerly known as Twitter, after he jokingly declared himself interim CEO of the social network. This incident underscored the need for decentralized solutions in social media, leading to the birth of Lens Network.
Recently, in a post published on X, Kulechov unveiled the roadmap for upcoming smart contracts that include feeds, group functionalities, social graphs and username management, among the major things.
Also, in that update, some new ERC-20 and ERC-721 contracts, including such features as ICOs, crowdfunding mechanisms, governance tooling, bonding curves, point systems, and reward programs, will appear.
The Lens Protocol, which postures itself as a leader in SocialFi innovation, emphasizes its open-sourced ethos. Kulechov has now invited developers to contribute to the project, accelerating the rollout of these advanced smart contracts. A $31 million strategic funding round led by Lightspeed Faction backs the ambitions of the Lens Network.
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