DeFi protocol AAVE is about to release an Ethereum based Twitter alternative. According to AAVE CEO Stani Kulechov, the platform will launch this year already.
Stani Kulechov stated:
So far, there have been many approaches to create a blockchain-based social media alternative. Steemit was one of the first approaches and EOS launched Voice in 2020. But none of them succeeded.
On AAVE’s social media platform, users can monetize the content they post and govern the rules of the network. Interesting, though, is that the protocol did not have something to do with social media in the first place. AAVE is a decentralized money market – even the largest decentralized money market in terms of TVL.
So, AAVE entering the social media market is kind of a statement! The protocol successfully launched several products this year already, such as institutional lending pools.
If AAVE will succeed with its Twitter alternative is yet to see.