The decentralized finance (DeFi) firm Aave Companies has announced the release of Lens Protocol v2, which introduces enhanced functionality to support new use cases and shared monetization for its growing Web3 user base. The founder of Aave and Lens Protocol, Stani Kulechov, explained that Lens is a decentralized protocol built on Polygon that allows developers to build and deploy Web3 social apps. It also enables the integration of Web3 social features with existing Web2 and mobile experiences. Lens has approximately 119,000 Web3 users in its beta stage and applications built on the protocol can leverage this user base.

Additionally, Lens Protocol serves as an alternative to conventional Web2 networks, which employ centralized database models that hinder portability. This new version of the protocol is expected to provide more ways to share value, allowing users to freely move between communities and applications. The shared user base of Lens Protocol remains an attractive feature, as it enables new apps and integrations to leverage the existing network. Kulechov emphasized that Lens Protocol is not designed to be a front-end app, but rather a shared network protocol that gives back value to users, creators, and developers.

Summary

Aave Companies has released Lens Protocol v2, a decentralized protocol built on Polygon that enables the development and deployment of Web3 social apps. The protocol supports new use cases and shared monetization for its growing Web3 user base. Lens Protocol serves as an alternative to conventional Web2 networks, providing more ways to share value and allowing users to freely move between communities and applications. It also offers the advantages of a shared user base, allowing new apps and integrations to leverage the existing network.

FAQs

What is Lens Protocol v2?

Lens Protocol v2 is a decentralized protocol built on Polygon that supports the development and deployment of Web3 social apps. It introduces enhanced functionality to support new use cases and shared monetization for its growing Web3 user base.

How many Web3 users does Lens Protocol have?

Lens Protocol has approximately 119,000 Web3 users in its beta stage.

What advantages does Lens Protocol offer over Web2 networks?

Lens Protocol provides an alternative to conventional Web2 networks by offering more ways to share value and allowing users to freely move between communities and applications. It also has a shared user base, which enables new apps and integrations to leverage the existing network.

Is Lens Protocol a front-end app?

No, Lens Protocol is not designed to be a front-end app. It is a shared network protocol that gives back value to users, creators, and developers.