Aave may create “Twitter on Ethereum

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Stani Kulechov, the founder of Aave, has proposed that his team create an Ethereum-based Twitter.

In response to Twitter founder Jack Dorsey’s intentions to establish a new DeFi network on Bitcoin, Kulechov made the idea.

Aave‘s Founder Teases Plans for Social Media

Stani Kulechov is a decentralized social media enthusiast.

On Saturday, the Aave creator discussed his idea of a “Twitter on Ethereum,” referring to Jack Dorsey’s recent statement that he would be developing a Bitcoin-focused platform for DeFi. “Since @jack [Dorsey] is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum,” Kulechov tweeted Saturday. Jordan Lazaro Gustave, an Aave co-founder, would lead the initiative, he said.

The hint comes after Square CEO Jack Dorsey said that the company was launching a new business to develop a platform for non-custodial, permissionless, and decentralized financial services on Friday. According to the Twitter creator, the network will primarily focus on Bitcoin, which has created a Twitter account for the company called “TBD.”

Many crypto enthusiasts were taken aback by Dorsey’s statement, with some pointing out that his proposal sounded eerily similar to Ethereum. Dorsey is well-known for his disinterest in cryptocurrencies other than Bitcoin, and he has already criticized Ethereum. However, the leading innovative contract blockchain, which now holds about $55 billion across multiple protocols, is regarded as the de facto home of DeFi today. According to DeFi Pulse, Aave is one of DeFi’s most popular protocols, with $10.82 billion locked between Ethereum and Polygon. While others speculated that Dorsey’s concept was a new version of Ethereum, Kulechov argued it was more akin to Aave. “you know Aave already exists, right” he wrote in response to the announcement.

It’s unclear whether Kulechov’s plan is set in stone, but the fact that one of his team members would be in charge might indicate that the concept has legs. It wouldn’t be the first time Aave has announced a big project: on July 5, the protocol disclosed that Aave Pro, a permission liquidity protocol for institutions, will be launched. It will go up later this month.

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