Aave CEO Announces New Innovative Contracts Release on Lens Network

• Aave CEO recently announced plans to launch new innovative contracts on Lens Network.
• Smart contracts for social feeds and groups, ERC-20 new versions, and innovative ERC71 contracts are some of the highlights.

Decentralized social media platform Lens Network is set to enhance its features with new smart contracts release. As the project is still in its early stages, CEO Stani Kulachov announced its plans to release innovative smart contracts.

Stani Kulachov is the CEO of one of the top DeFi protocols, Aave has come up with the idea of developing Lens Protocol under Avara umbrella company. When he playfully claimed to be the interim CEO of Twitter social network, he was banned from Twitter for a brief period. This incident made Stani Kulachov to focus on the need for a decentralized social media platform and led to the development of Lens Network.

Innovative Smart Contracts to Go Live on Lens Network

As per the latest post from Stani Kulachov on X, the team is planning to release a new set of innovative smart contracts on the decentralised social media platform. Some of the new features they are going to focus on are enhancing their Social platform with feeds, groups, graphs, and username rules features.

Releasing new versions of ERC20 and ERC71 contracts are other noteworthy features included with new contracts. Furthermore, ICOs/crowdfunding, novel bonding curves, governance, point systems, and earn programs are some of their additional features. Since all of these developments are open source, Stani Kulachov invited interested developers to expedite the smart contract release process.

The Lens Protocol aims to be on the frontlines when it comes to SocialFi development. It recently closed a $31 million strategic raise in a funding round led by Lightspeed Faction. This substantial investment helps Lens Network development to offer a user-friendly, cost-effective, and secure platform. With the latest strategic raise and plans to launch new contracts, Lens Network strives toward mainstream adoption of Web3 SocialFi.