

Aave's Lens Protocol Raises $15 Million, Paving the Way for a Decentralized Social Internet



Led by IDEO CoLab Ventures, the funding will enable Lens Protocol to continue driving innovation and reshaping the future of social networking.
Building the Decentralized Social Web
Lens Protocol has successfully concluded a funding round, securing $15 million in investment. The protocol, developed by Aave Companies, focuses on creating a user-owned social layer for the Internet. The funding will be utilized to further advance the Lens ecosystem, which aims to benefit users, creators, and builders within the web3 community.
Leading the funding round was IDEO CoLab Ventures, with notable participation from General Catalyst, Variant, Blockchain Capital, and Palm Tree, among others. Prominent venture capitalists such as A. Capital, Seed Club Ventures, Robot Ventures, as well as DAOs like Flamingo DAO, DAOJones, Punk DAO, DAO5, and Global Coin Research also contributed. Additionally, key angel investors, including Hayden Adams (CEO of Uniswap), Alex Atallah (Co-founder of OpenSea), Balaji Srinivasan (Entrepreneur), Sébastien Borget (Co-founder of Sandbox), Emily Yang (pplpleasr), Denis Nazario (Mirror.xyz), and Sandeep Nailwal (Co-founder of Polygon), supported the funding round.
The demand for an open, decentralized social layer has become increasingly apparent, as it fosters a more diverse and creative internet experience. By leveraging underlying technologies such as blockchain, smart contracts, decentralized storage, and NFTs, Lens Protocol reimagines the web as a decentralized app ecosystem.
The founder of Lens Protocol, Stani Kulechov, expressed the vision behind the project, stating, "Our vision at Lens is to accelerate the adoption of the next generation of the internet powered by human connection – the people-powered social layer." Lens aims to empower individuals by preserving digital identities and enabling portability across applications.
With the completion of its funding round, Lens Protocol is poised to continue driving innovation and reshaping the future of social networking.
What is Lens Protocol:
Developed by Aave Companies, Lens Protocol is a web3-based platform that empowers users to retain ownership of their digital identity, activities, and relationships. By leveraging an open technology stack, developers can build social interfaces or integrate Lens social features into their existing web3 applications. Lens was launched in May 2022 and is currently in beta. Over 100 custom applications have already been built on Lens, demonstrating the protocol's versatility.
Where to find Lens Protocol:
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Related News


Gyrowin: Revolutionizing Gaming and DeFi with Cross-Chain Innovation

Powered by its native token GW, Gyrowin combines the excitement of lottery games with the security and transparency of decentralized finance to offer users exciting rewards.
Gyrowin, a groundbreaking cross-chain decentralized gaming, liquidity, and asset management platform, is making waves in the world of blockchain technology and DeFi. With a mission to provide transparent and fair reward distribution, Gyrowin is set to redefine how players engage with lottery games and DeFi protocols. Let's delve into the key aspects of this innovative project.

Lottery Games for Fun and Profit
Gyrowin recognizes the enduring popularity of lottery games and is capitalizing on it. Offering a range of lottery games integrated with staking, lending, and borrowing protocols, Gyrowin allows players to have fun while winning. The platform operates game liquidity pools on major chains like BNB Chain, Polygon, Tron, and Solana, offering a diverse gaming experience.
The platform’s variety of cross-chain lottery games include the 6/41 Lottery, Gylotto, 5/9 Lottery, 10 minutes Lottery, and Instant scratch NFT Lottery. This cross-chain approach ensures accessibility and inclusivity for players across the crypto landscape.
Tokenomics
At the heart of the Gyrowin ecosystem lies its native token Gyrowin ($GW), designed to serve multiple functions, including governance voting, liquidity currency, and incentives for DeFi users. The token structure is meticulously balanced, with allocations for various purposes, including liquidity, reserve, marketing and more, ensuring a sustainable supply-demand ratio. Notably, Gyrowin implements a burning mechanism and regular buybacks to maintain token value. Learn more about the token distribution and allocation here.

Borrowing and Lending with Ease
Gyrowin offers a cross-chain DeFi platform for borrowing and lending tokens across multiple chains, introducing unified liquidity pools that provide higher APR for lenders. Users can borrow from different chains seamlessly, eliminating the need for collateral bridging. The platform also offers zero liquidation on collateral, enhancing user security.
Decentralization and Transparency
The platform places a strong emphasis on decentralization and transparency. Leveraging Chainlink oracle VRF for automation and accurate token price information, Gyrowin ensures fair lottery draws and automated lotteries. The platform also utilizes blockchain infrastructures like The Graph and layer zero for a seamless cross-chain experience.
Money Plant Staking and Freeze Lock
Gyrowin's staking process is designed to be competitive and rewarding for participants. Using a first-come, first-served approach and limiting staking amounts, Gyrowin offers higher yields in a short period. The platform’s innovative Freeze lock feature ensures that unlocked tokens are only available for use after a cooling period, providing additional security.
Smart Contracts and Audits
Security is a top priority for Gyrowin. The project's smart contracts have undergone thorough audits by leading security providers such as Hacken and Solidproof, ensuring the highest level of safety for users' assets.
Gyrowin is a game-changer in the blockchain and DeFi space, combining the excitement of lottery games with the security and transparency of decentralized finance. With its innovative approach to cross-chain functionality, governance tokens, and staking, Gyrowin is set to reshape the future of gaming and DeFi.
Stay updated with Gyrowin and its development via the official links:
Website | Twitter | Telegram | Docs
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $400. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
Looking for a job in crypto? Check out the CryptoJobsNow listings!
Author

Try Now!

Sign up Now
Coming Soon

WIN BIG

Coming Soon

Sign Up Now

Earn Now
Coming Soon

Sign Up Now

Play & Mine!
Coming Soon
Editors Choice
Other Currencies
- nameLTBuyLitecoin
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0% - nameLTBuyEOS
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0% - nameLTBuyMonero
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0% - nameLTBuyBitcoin Cash
Sponsored
Buy Crypto with Fees as low as 0%
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
£0£0+0%