Aave DeFi protocol founder Stani Kulechov responded to Jack Dorsey’s Bitcoin business plans with a suggestion to build ‘Twitter on Ethereum.’
Last week, Jack Dorsey Tweeted that Square will be launching a set of decentralized financial services on Bitcoin in the near future.
In response to this, Stani Kulechov, founder of the Aave protocol, one of the best performing and most popular ecosystems for decentralized finance (DeFi), posted a Tweet poking fun at Dorsey, and hinting that Square is building the same service that Aave offers – so maybe Aave should then build “Twitter on Ethereum.”
Related | Square Is Working On A DeFi Business Focused On Bitcoin
https://twitter.com/StaniKulechov/status/1416385933549654016
He also goes on to mention that Aave co-founder Jordan Lazaro Gustave, would lead the effort, which makes it unclear if the Tweet is a poke or a serious announcement of a proposal that may actually land on Dorsey’s desk.
Aave’s website describes the project in strikingly similar terms to the ones used by Twitter’s founder last week: “Aave is an open-source and non-custodial liquidity protocol for earning interest on deposits and borrowing assets.”
Both, Aave and Dorsey’s new project plans provide the possibility for users to borrow money, earn interest on savings, insure other users for a premium, and other decentralized financial services normally run with a traditional financial institution (a bank) as an intermediary.
Meanwhile, demand for the popular Aave protocol for decentralized financial services is on the rise among mainstream, institutional investors.
You might also like
More from Tech
YouTube Is Testing AI-Generated Video Summaries
YouTube has recently started testing a new feature that automatically generates summaries of videos using AI.
Meta Prepares To Launch AI Personas To Retain And Engage Users
According to industry sources, Meta is preparing to launch its AI personas feature in an effort to increase engagement with …
Meta Launches ‘Meta Quest+’ VR Subscription For $7.99
The new Meta Quest subscription will give you access to the top titles on the device every month. It costs …
YouTube Is Adding AI-Powered Dubbing
YouTube is integrating the team from Aloud to help you dub your videos in other languages with the help of …
New VEED AI Tool Helps You Fix Your Gaze In Videos
How many times have you struggled to keep eye contact with a camera when filming a video and reading off …
Apple Will Automatically Assign You An Apple ID Passkey With iOS 17 And macOS Sonoma
Apple will automatically assign each user a passkey so they can log into Apple accounts without needing a password. Passkey allocation …
IKEA Used AI To Create A Couch That Can Fold Like An Envelope
A design lab affiliated with IKEA used AI to design a couch that only weighs 22 pounds and can fold …
5 Long-Awaited Features Apple Is Finally Bringing To The iPhone With iOS 17
At WWDC 2023, Apple introduced several new features that will come with the release of iOS 17. Here are the …
Leaked: Instagram Is Working On An AI Chatbot
Images leaked by app researcher Alessandra Paluzzi show that Instagram is working on an AI chatbot. According to the images shared …
