Avara, the parent company of Decentralized Finance (DEFI) platform aave, announced the arrival of the lens chain mainnet, a fast and cheap Ethereum overlay blockchain for the development of decentralized social media applications.
There are some blockchain-oriented, or ”Web3“Startups seeking to provide users an alternative to giant, centralized social media companies such as Facebook and Elon Musk’s X (formerly Twitter).
To offer better successors to existing social media giants requires a fertile protocol level, according to Avara CEO Stani Kulechov. This means offering a developer-friendly layer 2 environment, driven by composable features designed to release the economic potential of decentralized “socialfi.”
“The direction we have taken to the lens in the last 12 months is to bring the best developer tooling for developing chain social experiences,” Kulechov said in an interview. “We chose the best stack to run a chain chain where we get the lowest possible cost transactions, but a sufficient amount of security for social transactions.”
The lens chain, a system that uses mathematics proof to check the reality of off-chain transactions, has its own dedicated stablecoin, Aave’s Ghoto handle gas fees, and its own decentralized data storage. A set of application building blocks is offered to create objects such as composable graphic graphs, custom feeds, token-gated communities etc.
Blockchain has a cement cooperation with many defi and infrastructure projects including Uniswap, Balancer, Layerzero, Circle, Consensys and Chainlink.
