Share this article
Aave’s Decentralized Social Media Platform Arrives on Polygon
The launch of Lens Protocol comes weeks after Aave founder Stani Kulechov was temporarily suspended from Twitter.
By Cam Thompson
Updated May 11, 2023, 4:22 p.m. Published May 18, 2022, 1:07 p.m.
Weeks after Aave founder Stani Kulechov was temporarily suspended from Twitter for proclaiming himself “interim CEO of Twitter,” the decentralized finance (DeFi) lender’s long-teased decentralized social media platform is going live.
Lens Protocol opened on the Polygon blockchain mainnet Wednesday, Kulechov announced onstage at the Permissionless conference in Palm Beach, Florida. Built by Aave Companies, it allows developers to build their own decentralized social media networks in which users fully own their data.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“All [Web 3] innovation has been driven by the idea of ownership,” said Kulechov via Telegram. “Web 3 social ensures that users are in control of their content which makes the applications and algorithms compete on bringing the best experience layer to the users.”
The protocol was first announced in February, but today people can starting minting their profiles, an Aave spokesperson said, noting about 50 apps are already built on Lens.
Social graph protocols are popping up across the blockchain space to fight concerns about data ownership. Siloed data-buster CyberConnect said Tuesday it raised $15 million to build out its protocol. And Twitter founder Jack Dorsey has long backed efforts to experiment with decentralized social media concepts, too.
Aave’s Lens differs in its focus on non-fungible tokens (NFTs): each creator gets their own. These “profile” NFTs link to their followers and communities and interact with the 50+ platforms available at launch.
Aave has additionally launched a $250,000 grants program to fund projects seeking to build decentralized applications (dapps) on Lens.
Speaking at the Permissionless crypto event on Wednesday morning, Kulechov said Aave and Lens share the same ethos.
“We believe that the ownership of content and profiles should belong to you in the way that DeFi belongs to you,” he said.
UPDATE (May 18, 13:27 UTC): Adds on-stage Kulechov comment.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Coinbase agrees to buy The Clearing Company to deepen prediction markets push
The deal brings a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
What to know:
- Coinbase is acquiring The Clearing Company, a startup with experience in prediction markets, to help grow its newly introduced platform.
- The deal brings in a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
- The acquisition is part of Coinbase's plan to become an "Everything Exchange", offering a wide range of trading options, including novel cryptocurrencies, perpetual futures contracts, stocks, and prediction markets.
Top Stories
