A “Twitter on Ethereum” may be in the works

A “Twitter on Ethereum” may be in the works

Stani Kulechov is said to be considering a social media platform on the blockchain

The austere tycoon and CEO of Twitter, Jack Dorsey, not long ago said that he was developing a new financial services platform centered on the famous cryptocurrency Bitcoin. This is something that contains several similarities with Aave, a decentralized lending system that allows users to lend, borrow and earn interest on crypto assets, all without middlemen. Now, the man behind that platform, is reportedly considering a social media platform that would be essentially “Twitter on Ethereum.”

Last Thursday, Dorsey tweeted that Square Inc, a company he also founded in connection with mobile payments, was creating a new business “focused on building an open development platform with the sole goal of facilitating the creation of decentralized, non-custodial, permissionless financial services.” After Dorsey’s news, the founder of Aave, Stani Kulechov, took to his Twitter account to let his 90,000+ followers know that his protocol should build “Twitter on Ethereum.”

It seems that the tweet was to the liking of many in the community, as it has received over 34,000 likes so far, especially for those who are loyal followers of Bitcoin, as it was indicated that it was going to be his main focus. In his response, Kulechov implied that Dorsey’s business idea had many similarities to Aave. It is still unclear whether Kulechov’s Twitter-on-Ethereum plan will become a reality in the future. But, it was made clear that in any case, it would be Jordan Lazaro Gustave, the co-founder of Aave, who would take the lead in the effort.

Currently, Aave has achieved great popularity in the market, becoming one of the most widely used DeFi protocols. Even its demand for services is growing among traditional investors.

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