Crypto: Aave Refocuses On Defi, Hands Lens Stewardship To Mask Network

Mask Network will lead consumer-facing product execution on Lens, while Aave steps back to an advisory role focused on protocol infrastructure.

Decentralized finance (DeFi) protocol Aave transferred stewardship of the social infrastructure protocol Lens to Mask Network, shifting responsibility for advancing consumer-facing social applications while retaining Lens as open-source infrastructure.

Statements from both Lens and Aave founder Stani Kulechov confirmed the transition. On Tuesday, Kulechov said in an X post that Aave’s role will narrow to technical advisory support as it refocuses on DeFi.

He added that Mask Network, a Web3 company focused on integrating blockchain features into social and messaging platforms, will be leading the next phase of development for Lens, particularly at the application and product layer.

While the announcement framed the move as a change in “stewardship,” neither Lens nor Aave characterized it as an acquisition or exit from social infrastructure.

Cointelegraph reached out to Lens for more information, but had not received a response by publication.

Under the new setup, Mask Network assumes responsibility for consumer-facing execution, including product roadmap decisions, user experience design and day-to-day operational leadership for social applications built on Lens.

This includes advancing apps such as Orb and shaping how Lens-based products are positioned and distributed to end users.

Lens and Aave said the protocol’s underlying components, including its onchain social graph, profiles, follows and smart contracts, will remain open-source and permissionless.

There was no indication of a transfer in protocol ownership, intellectual property, treasuries or governance control as part of the transition.

Source: CoinTelegraph