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Aave to launch an Ethereum-based social network

Industry News

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The DeFi project Aave is going to launch an Ethereum blockchain-based social network to compete with Twitter. According to the project CEO, Stani Kuleshov, Jordan Lazaro Gustav is going to head this initiative.

What is the basic idea of the future social network? A platform to be launched will allow users to capitalize on their content and take part in network management processes. Kuleshov highlights that a new platform is going to solve the vast majority of existing problems related to social networks: censorship and unfair reward structure.

The Aave CEO accentuates that Twitter influencers don’t impact their own audience; this is why they cannot transfer subscribers to other platforms.

What is the reason for such an idea? Everything has allegedly begun with Jack Dorsey’s initiative on the creation of a DeFi platform. The Twitter founder decided to play on Stani’s field, and the response is not a surprise.

“Since Jack Dorsey is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum” – such an initiative was published on July 17, and the community first understood the news as a joke. Meanwhile, the idea turns out to be a serious one, as the Aave team aims to create a social network to overrun both Twitter and Facebook. The project is about to be realized by the end of 2021.

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