Lens Network, a decentralized social media platform, is gearing up to introduce new and innovative smart contracts to enhance its features. The project, still in its early stages, is led by CEO Stani Kulachov, who is also the CEO of Aave, a top DeFi protocol. Kulachov’s vision for Lens Protocol under the Avara umbrella company stems from his temporary ban on Twitter after claiming to be the interim CEO of the social network. This incident prompted him to recognize the need for a decentralized social media platform, leading to the development of Lens Network.
In a recent announcement, Stani Kulachov revealed plans to release a new set of groundbreaking smart contracts on Lens Network. These contracts will introduce a range of innovative features, including expanded social functionalities such as feeds, groups, graphs, and username rules. Additionally, the platform will offer new versions of ERC20 and ERC71 contracts, as well as features for ICOs/crowdfunding, novel bonding curves, governance, point systems, and earn programs. All of these developments will be open source, inviting developers to contribute to the smart contract release process.
The Lens Protocol is positioning itself at the forefront of SocialFi development, having recently secured a $31 million strategic raise in a funding round led by Lightspeed Faction. This significant investment will support the development of Lens Network, enabling it to provide a user-friendly, cost-effective, and secure platform. With plans to launch new contracts and strategic funding in place, Lens Network aims to drive mainstream adoption of Web3 SocialFi.
Overall, the upcoming release of innovative smart contracts on Lens Network signals a significant step towards revolutionizing the social media landscape with decentralized and user-centric features. Stay tuned for the latest updates on Lens Network’s progress and the impact of these new contracts on the platform’s growth and adoption within the Web3 ecosystem.