Aave protocol developer secures $31 million for Lens, a high-performance blockchain for social apps | TechCrunch
Powered by @unfolded- Avara, the company behind Aave and Lens, has raised $31 million in funding led by Lightspeed Faction to enhance decentralized social and consumer applications.
- The newly launched Lens v3 protocol aims to make transactions more affordable using zkSync technology, addressing cost barriers for large-scale consumer applications.
- Lens promotes user ownership of identity and content, allowing seamless migration between apps built on its decentralized network, thus challenging the traditional provider-controlled models.
- The protocol plans to introduce features like configurable access rules for content and aims for a mainnet launch in early 2025, potentially expanding the landscape of decentralized social networks.