Aave CEO Unveils Game-Changing Contracts on Lens Network

• Lens Network’s smart contracts will improve the decentralized social features.

• A $31 million investment round supports Aave CEO Kulachov’s idea.

Stani Kulachov, Aave CEO, has revealed new smart contracts for the decentralized social media network, Lens Network. The network will offer advanced social feeds, groups, and innovative ERC-20 and ERC-721 contracts. These features aim to equip the Web3 space with groundbreaking tools for enhanced social interactions.

Lens Network, built under the Lens Protocol, focuses on a decentralized social experience owned and controlled by users. This new update will introduce many features, including smarter feeds and enhanced group management. These improvements will further support Web3 adoption.

Kulachov, who also spearheaded Aave’s success, was inspired to create Lens Network after being briefly banned from Twitter, leading him to see the urgent need for decentralized social media solutions. The frustration experienced inspired the creation of Lens Network, which aims to provide a censorship-free environment for online communities.

Lens Network Improves Utilities in Blockchain.

The updates in the Lens Network will be about more intelligent social feeds, redesigned group functionalities, and more enhanced username features. The new update of ERC-20 and ERC-71 contracts will make the user experience even better. Kulachov also mentioned ICO and crowdfunding, innovative bonding curves, governance structures, and earning programs. The development process will be open-source, and developers are encouraged to contribute and speed up the process.

All of these contracts will be fully open source, meaning developers and users have complete freedom to construct and integrate with the Lens Network. Such a strategy best illustrates Aave’s commitment to inclusivity and collaboration within the blockchain community.

Lens Network has recently managed to gain more attention as one of the innovation approaches of SocialFi. A strategic funding round raised $31 million for Lens in order to progress further into making Web3 mainstream and bringing about decentralized social media that is not only accessible but also easy to use.

This new series of smart contracts with Lens Network allows it to head the line on decentralized social media, innovating smart contract presence in front-line social interaction.