Lens Protocol Explained

Summary: Lens Protocol is a groundbreaking decentralized social graph built on the Polygon blockchain, aiming to revolutionize social media in the Web3 era. Created by the team behind Aave, Lens Protocol offers users full ownership of their digital interactions through applications like Orb and Lenster.

Users can join the waitlist to create their Lens Protocol profile, and a governance token airdrop is likely on the horizon. The project recently secured $15 million in funding to further its mission of democratizing social media.

What is Lens Protocol?

Lens Protocol is a decentralized, blockchain-based social graph revolutionising how social media platforms function in the Web3 era. Unlike traditional, centralized social media platforms like Twitter or Facebook, Lens Protocol allows users to truly own their digital interactions and connections, providing an architecture that is both permissionless and composable. Developed by the team behind Aave, the largest money market in DeFi, the protocol has quickly garnered attention for its user-centric approach.

The technology behind Lens Protocol uses a graph database, underpinned by smart contracts, to map out social interactions. It's built on the eco-friendly Polygon blockchain and is compatible with cryptocurrency wallets like MetaMask and Coinbase Wallet. Users can monetize their content and possess complete ownership through non-fungible tokens (NFTs), shifting towards a more democratic, decentralized social media landscape.

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What Apps are Built on Lens?

Several applications have been built on the Lens Protocol, each catering to a variety of use-cases and platforms. Here's a quick rundown:

• Orb: A mobile application designed with creators and communities in mind.
• Lenster: This is an open-source platform available on desktops.
• Buttrfly: Known as a Web3 Social Explorer, this app enables users to navigate the decentralized social web.
• Lenstube: This open-source video platform for desktop offers a space for video content sharing.
• Riff: If you're a music aficionado, Riff allows you to discover and collect new music through the Lens Protocol.
• Dumpling: This application is all about streaming the best content from Lens, offering a rich media experience for users.

These apps showcase the versatility of Lens Protocol, which aims to decentralize the social web, giving users more control over their data and digital interactions.

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How to Get a Lens Protocol Profile

Getting a Lens Protocol profile is a straightforward process, although the mainnet is currently in closed beta. First, visit their official waitlist page at https://waitlist.lens.xyz/ and join the waitlist. Once you're on the waitlist, you'll be prompted to validate your Web3 ID, which you can do by connecting your MetaMask or Coinbase Wallet to the platform.

After successfully validating your Web3 ID, you'll have to wait until the mainnet is open to the public. When it is, you'll receive a notification allowing you to claim your profile. This way, you'll be ready to fully engage with the Lens Protocol platform as soon as it becomes widely available. Remember, claiming your profile is an essential step to owning your digital interactions and connections on this decentralized social media network.

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Will Lens Protocol Have an Airdrop?

It's quite probable that Lens Protocol will conduct an airdrop as part of its transition to a fully decentralized network. The airdrop would likely target beta testers and early users when the mainnet rolls out to the public. The rationale behind this move is to distribute governance tokens that will play a critical role in decentralizing decision-making within the platform. 

These governance tokens will pave the way for creating a Decentralized Autonomous Organization (DAO), allowing a more democratic process where stakeholders can participate in shaping the future of Lens Protocol.

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Lens Protocol Funding

Lens Protocol has secured $15 million in funding. This significant capital injection was led by IDEO CoLab Ventures and saw participation from well-known venture capital firms like General Catalyst, Variant, and Blockchain Capital, as well as DAO organizations such as Flamingo DAO and DAOJones. Angel investors in the round included noteworthy figures like Uniswap CEO Hayden Adams and OpenSea co-founder Alex Atallah.

The new capital will fuel the protocol's ongoing development and ecosystem expansion. CEO Stani Kulechov emphasized the protocol's goal of democratizing social media, making it more equitable and user-centric. This funding is a significant step toward achieving Lens Protocol's long-term vision.

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Bottom Line

In summary, Lens Protocol is pioneering a new era of decentralized social media built on blockchain technology. Developed by the Aave team, it gives users full control over their digital interactions while reshaping social platforms. With an array of versatile applications like Orb, Lenster, and Buttrfly, Lens Protocol proves its adaptability across different user needs. 

The roadmap includes a likely airdrop to distribute governance tokens and evolve into a Decentralized Autonomous Organization (DAO). The recent $15 million in funding further validates the project's ambition to democratize social interactions online. If you're intrigued by the promise of owning your digital social life, Lens Protocol is a platform you'll want to watch.