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  • Writer's pictureSarah Dixon

Aave adds new features through Lens Protocol V2.

Aave adds new features through Lens Protocol V2.
Aave adds new features through Lens Protocol V2.

Aave Companies has unveiled version two of its Lens Protocol and introduced several new features for the web3 social app.

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Aave adds new features through Lens Protocol V2. Lens Protocol Now Allows Blocking

Aave Companies, the parent organization of Lens Protocol, has recently launched the highly anticipated V2 of its web3 social app. This latest update brings Lens one step closer to its goal of creating an open and decentralized social media ecosystem that focuses on composability, value sharing, and enhanced features.

One noteworthy addition is the on-chain blocking feature, which allows Lens users to block each other, similar to Twitter. Once blocked, users will be restricted from commenting, following, quote-commenting, and utilizing unique crypto-specific features such as mirror and collect.Aave adds new features through Lens Protocol V2.

New Features To Support Monetization

With monetization as one of the key pillars supporting the V2 upgrade, several new features have been geared toward allowing users to generate revenue. For example, the “collect” feature allows users to accumulate and store content on Lens as NFTs. There is also an equivalent feature to that of a retweet - Mirror. A “mirrored” piece of content will generate revenue, with users who have mirrored the content also receiving a portion of the earnings.

According to the statement from Aave founder Stani Kulechov,

"Lens Protocol V2 takes decentralized social media and monetization opportunities to a new leve. Providing maximum flexibility for builders, V2 enables new types of social engagements and monetization relationships, where all stakeholders can share in the value of social networks—both individually and collectively as an ecosystem."

V2 Continues Open Design Space

The initial version of the social platform lacked a user interface, but provided developers with sufficient tools and supportive architecture to create their own consumer apps in the Lens ecosystem. This led to the development of several social media apps such as Lenster, Orb, and Buttrfly.

Moreover, the developer community on the platform has created multiple tools, including algorithms that predict follower growth and search operations to find new friends and content. This open design space will continue on V2, allowing developers to execute external actions directly on the platform and build innovative projects.

The recent introduction of the Momoka data scalability solution and V2's Lens Improvement Proposals (LIPs) will further enhance the platform's scalability and decentralization.

Profiles Get An Upgrade

Lens Protocol V2 is the latest version of a web3 social app that is focused on upgrading user profiles. The profiles have been transitioned to the ERC-6551 standard, which allows users to transact and store cryptocurrencies and NFTs like crypto wallets. The app is also offering crypto-native actions such as creating pathways for builders to join DAOs or donate to public goods through investing in content. With these new features and improvements, Lens Protocol V2 aims to create a niche in the social media landscape by providing a decentralized and crypto-powered platform that offers increased engagement, monetization opportunities, and compatibility with the evolving web3 ecosystem.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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