Aave founder claims to be building “Twitter on Ethereum”

Aave founder Stani Kulechov, share that his foundation will build Twitter on Ethereum after Jack Dorsey said he was developing a new Bitcoin-focused financial services platform that bears striking similarities to Aave.

Stani Kulechov – founder of Aave

On Thursday, Dorsey, Square Inc. said it is launching a new company “focused on building an open developer platform with the sole goal of easily creating decentralized, permissionless and unregulated financial services.”

The tweet received over 34,2,000 likes at the time of publication, suggesting that Bitcoin will take center stage.

In his response, Kulechov implied that Dorsey’s business idea is similar to that of Aave, an open-source, unmanaged DeFi protocol that allows users to borrow assets and earn interest on deposits. While it’s not entirely clear whether Kulechov’s Ethereum Twitter plans are serious, he is said Aave Jordan co-founder Lazaro Gustave will lead the project.

Aave has become one of the most popular DeFi protocols on the market, with the demand for this service growing even among traditional investors. The platform plans to make a licensed version of the platform available to institutional investors earlier this month.

Dorsey’s plan to bring DeFi into Bitcoin territory came after an announcement in early June that Square was investigating the development of an open-source BTC hardware wallet. The entrepreneur reiterated the importance of self-regulation and the need to reach new crypto users through mobile technology.

Annie

According to Cointelegraph

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