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    Avara’s Blockchain Lens Secures $31 Million Ahead of Mainnet Launch on Ethereum

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    Lens, a blockchain developed by Avara, secured $31 million in funding from an investor group led by Lightspeed Faction. The cash will be used to advance the network’s development before its official launch next year. Lens mainnet is expected to debut on Ethereum in 2025. The platform emphasizes social interactions, integrating features like usernames, feeds, and groups for improved social communication. Lens is partnered with major firms including Alchemy, Chainlink, Uniswap, and others. It intends to provide an affordable layer 2 network to boost the mainstream adoption of social finance on the web3 platform.

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    Lens, a blockchain built by Avara, has snagged $31 million in funding from an investor group led by Lightspeed Faction. The cash is set to help push the network forward before its big launch next year.

    Lens is unique because it’s all about social interactions. A sneak peek of its latest update introduces features like usernames, feeds, and groups for better social communication. These features can easily be installed onto any app running on the blockchain. Even more cool stuff? Devs can add ways to monetize their apps.

    Founder Stani Kulechov forecasts that Lens’ mainnet will be launched on Ethereum in 2025. He remarks that most existing Layer 2 networks are too expensive for ordinary folks to adopt. This is where Lens comes into play. It aims to provide safe, swift and affordable L2 network to make web3 SocialFi mainstream. At the same time, it retains all the cool features of blockchain.

    With Lens, users not only get a fantastic user experience and various ways to monetize, but also control and ownership of their own data. Pretty neat, huh?

    Lens has teamed up with major names like Alchemy, Chainlink, The Graph, stablecoin Circle, Consensys’ MetaMask wallet, and decentralized exchange Uniswap. Alongside Lightspeed Faction, other investors who poured money into this round include Avail, Circle, Consensys, Foresight Ventures, and Wintermute Ventures.

    Avara, where Lens was born, got the ball rolling back in May 2022. The company formerly known as Aave had offered a $250,000 grant for developers creating on the platform.

    In other news, AaveDAO, backed by Donald Trump’s World Liberty Financial platform, proposed a plan to launch an Aave instance on Ethereum. This could mean they get to keep 20% of the fees it makes plus 7% of its WLFI governance tokens.

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