Friday, July 30, 2021
Ethereum DeFi Protocol Founder Hints At Creating A Twitter on Ethereum

DeFi Protocol Founder Hints At Creating A Twitter on Ethereum

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Aave DeFi protocol founder Stani Kulechov responded to Jack Dorsey’s Bitcoin business plans with a suggestion to build ‘Twitter on Ethereum.’

Last week, Jack Dorsey Tweeted that Square will be launching a set of decentralized financial services on Bitcoin in the near future.

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In response to this, Stani Kulechov, founder of the Aave protocol, one of the best performing and most popular ecosystems for decentralized finance (DeFi), posted a Tweet poking fun at Dorsey, and hinting that Square is building the same service that Aave offers – so maybe Aave should then build “Twitter on Ethereum.”

Related | Square Is Working On A DeFi Business Focused On Bitcoin

He also goes on to mention that Aave co-founder Jordan Lazaro Gustave, would lead the effort, which makes it unclear if the Tweet is a poke or a serious announcement of a proposal that may actually land on Dorsey’s desk.

Aave’s website describes the project in strikingly similar terms to the ones used by Twitter’s founder last week: “Aave is an open-source and non-custodial liquidity protocol for earning interest on deposits and borrowing assets.”

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Both, Aave and Dorsey’s new project plans provide the possibility for users to borrow money, earn interest on savings, insure other users for a premium, and other decentralized financial services normally run with a traditional financial institution (a bank) as an intermediary.

Meanwhile, demand for the popular Aave protocol for decentralized financial services is on the rise among mainstream, institutional investors.


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