Aave May Build “Twitter on Ethereum”

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Kulechov made the suggestion in response to Twitter founder Jack Dorsey’s plans to construct a brand new platform for DeFi on Bitcoin. 

Aave Founder Hints at Social Media Plans

Stani Kulechov has his eyes set on decentralized social media. 

The Aave founder shared his imaginative and prescient of a “Twitter on Ethereum” Saturday, referencing Jack Dorsey’s current announcement that he can be constructing a Bitcoin-focused platform for DeFi. “Since @jack [Dorsey] goes to construct Aave on Bitcoin, Aave ought to construct Twitter on Ethereum,” Kulechov tweeted Saturday. He added that Jordan Lazaro Gustave, a co-founder of Aave, would lead the challenge. 

The trace follows Dorsey’s Friday update that Sq. can be creating a brand new enterprise to construct a platform for “non-custodial, permissionless, and decentralized monetary providers.” The Twitter founder confirmed that the platform would primarily concentrate on Bitcoin and launched a Twitter account for the enterprise beneath the identify “TBD.” 

Dorsey’s announcement attracted the eye of many crypto followers, a few of whom pointed out that his thought sounded much like Ethereum. Dorsey is thought for his lack of curiosity in cryptocurrencies aside from Bitcoin and has thrown shade at Ethereum previously. The main good contract blockchain is taken into account the de facto residence of DeFi at the moment, at present holding round $55 billion throughout varied protocols. Aave is considered one of DeFi’s most used protocols, with $10.82 billion locked throughout Ethereum and Polygon in line with DeFi Pulse. Whereas some stated Dorsey’s thought gave the impression of a brand new model of Ethereum, Kulechov recommended it was nearer to Aave. Responding to the announcement, he wrote “you realize Aave already exists proper.”

It’s nonetheless unclear whether or not Kulechov’s plan is about in stone, however the point out that considered one of his crew can be main the trouble may counsel that the thought has legs. It wouldn’t be the primary time Aave has introduced an bold challenge: on Jul. 5, it was revealed that the protocol would launch Aave Professional, a permissioned liquidity protocol for establishments. It goes dwell this month. 

Disclosure: On the time of writing, the writer of this function owned ETH, ETH2X-FLI, AAVE, and several other different cryptocurrencies. 

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