Avara Secures $31 Million for Lens v3 Blockchain, Plans Mainnet Launch in Q1 2025 for Social Apps

Avara, the developer behind the Aave protocol, has secured $31 million in funding for Lens, a high-performance blockchain designed for social applications. The funding round was led by Lightspeed Faction, with participation from a range of investors including Alchemy, Avail, Circle, Consensys, DFG, Fabric Ventures, Foresight Ventures, Stellarcore, Superscript, Re7, and Wintermute Ventures, as well as several angel investors. Lens aims to provide infrastructure for decentralized social and consumer apps, with its latest version, Lens v3, addressing transaction cost issues by utilizing zkSync and validiums. The protocol is set to launch its mainnet in the first quarter of 2025, and is currently used by platforms like Zora, Hey, Kaira, and Orb. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io