Lens Protocol: Now Open to All
The social media platform Lens Protocol, which is associated with the DeFi lending protocol Aave, has announced that it is moving into a “permissionless” phase. This means that anyone can now join the platform and build on it by creating an on-chain NFT for their profile. To gain access, developers and creators must pay a minimal fee of either 10 MATIC tokens or approximately $10.30 through a credit card.
Avara, the Web3 software firm that owns Aave and Lens, made the announcement.
Aave CEO Stani Kulechov shared the news on X.com, stating, “After two years of building a decentralized social protocol, we are excited to announce that Lens is now permissionless and open for everyone to join!”
Community Demand for Permissionless Access
Unlike many mainstream social media platforms such as Twitter, Facebook, and Instagram, Lens Protocol offers users ownership and control over their identities online. When the beta version of Lens was first introduced in February 2022, it served as an on-chain alternative that allowed users to maintain ownership of their digital identities, relationships, and content.
The Aave community has been advocating for permissionless access to Lens Protocol for a while. According to Kulechov, “As we built out Lens’s functionality over the past 18 months, we heard ongoing feedback that made one thing clear: the community wanted to go permissionless.”
Limitless Building Opportunities
With the platform now open to developers worldwide, there are limitless opportunities for building on Lens Protocol. Developers can create new experiences, explore different use cases, and develop innovative business models. They can also customize the way content is viewed and monetize it through tokens.
Building new apps on Lens is made simpler by its ready-made social graph, which allows developers to leverage existing relationships and profiles, rather than starting from scratch.
The Decentralization of Social Networks (DeSo)
The decentralization of social media platforms has sparked intense competition among various platforms to attract users. One of the main competitors for Lens Protocol is Farcaster, which became permissionless in October 2023 after launching on Optimism.
Bluesky, another decentralized social network backed by Twitter founder Jack Dorsey, is also seen as strong competition for X.com. Bluesky has already opened up access and gained over 800,000 new users in a single day.
Hot Take: The Future of Social Media on the Blockchain 📷
With Lens Protocol transitioning into a permissionless phase, it marks another significant step towards the decentralized future of social media. Here’s what you need to know:
Control Over Your Digital Identity
- Lens Protocol provides users with ownership and control over their digital identities, something that traditional social media platforms fail to offer.
- By allowing users to create on-chain NFT profiles, Lens gives individuals the power to maintain sovereignty over their personal information and content.
Opportunities for Developers and Creators
- With Lens becoming permissionless, developers and creators now have the freedom to explore new opportunities and build unique experiences on the platform.
- The ready-made social graph on Lens enables developers to leverage existing relationships and profiles, making it easier to create and distribute content.
Competition in the Decentralized Social Network Space
- Farcaster and Bluesky are strong competitors for Lens Protocol in the race to establish dominance in the decentralized social network space.
- Their permissionless access has attracted an influx of users, highlighting the growing demand for social media platforms that prioritize user ownership and control.
As Lens Protocol opens its doors to everyone, it sets the stage for a new era where individuals have full control over their online presence. The decentralization of social media continues to gain momentum, promising a future where users truly own their digital identities and content.
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