Author: Stacy Muur

Compiled by: Tim, PANews

When social applications on general-purpose blockchains reach a development bottleneck, they will build their own dedicated chains and migrate 125GB of social historical data.

This is exactly what Lens Chain is doing by launching a SocialFi L2.

This L2 is supported by Avail's DA (data availability) technology, which can scale to support billions of users at a low cost.

Social media is the most widely used consumer product on the internet.

5.4 billion users spend an average of 2.5 hours daily, but it is based on a closed and fragmented foundation: unavoidable censorship mechanisms, profiles bound to platforms, accounts that can be suspended at any time, and other issues.

Lens is a social protocol based on Avail that centers around user ownership.

What is Lens Chain?

Lens is laying the foundation for a decentralized, user-owned social network that is fully portable.

An open garden, a free platform.

You fully own your social graph.

Core Technology Stack:

• High-speed transaction execution using ZKSync elastic chains
• Avail as the DA layer, ensuring censorship-resistant data availability
• GHO as the native gas token
• Wallet-less login through Family

This is a customized technology stack, with Avail as the core scaling component.

Choosing Avail has proven to be a wise decision, as SocialFi applications require economically efficient large-scale data availability solutions to reduce costs. The cost of the Ethereum blobspace solution is ten times higher.

Why Does SocialFi Have Strict Infrastructure Requirements?

First, social networks generate massive amounts of data:

Profiles, posts, interactions, follows, and media.

Therefore, Lens needs a horizontally scalable data availability layer that can accommodate the explosive growth in demand for block space without sacrificing security or decentralization.

The only suitable option is: the Avail DA layer.

To launch Lens Chain V3, the team migrated 125GB of historical data (from Lens V2 on the Polygon chain). This includes: over 660,000 user profiles, 28 million follow relationships, 16 million pieces of content (posts, comments, quotes), and 50 million interactions.

Lens V3: The Evolution of SocialFi

• Programmable smart accounts (no longer supporting static NFTs)
• Global social graph: supports advanced follow features and social relationship queries
• On-chain native features: token-gated content, paywalls, micropayments
• Seamless developer experience: build social features at unprecedented speed

Lens chose Avail over other solutions:

• Horizontal scalability: block size from 4MB → 128MB → recently announced to achieve 1GB → 10GB
• Fast finality: currently about 40 seconds, with a goal to shorten to about 250 milliseconds
• Peer-to-peer DAS technology: supports trustless light clients
• Cost advantage: data availability costs are over 90% lower than Ethereum
• Modular design: compatible with various scaling solutions like ZKsync, Validiums, Optimistic rollups, etc.

Huge Revenue Opportunities for Avail

As Lens grows, every post, like, follow, and share will touch the Avail DA layer.

Other L2, Rollup scaling solutions, and application chains are following suit.

More links → more data generated → more fees captured by Avail.

And the processing cost for Avail is only one-tenth of Ethereum's Blobspace.

To scale like traditional social platforms, SocialFi needs a low-cost data availability layer.

In March 2024, Arbitrum paid $7.82 million for Ethereum Blobspace.

If the Avail DA layer were used, this cost could be reduced by 90%.

This is the marginal benefit achieved by Avail through scaling.

Lens has raised over $46 million, and the project is created by Aave founder Stani.

Tokens have not yet been issued, and it now has its own chain.

If you have used Lens ecosystem applications like Orb, Tape, Hey, Soclly in the early days, you may have the opportunity to receive an annual SocialFi airdrop.

Given the strategic partnership between Avail and Lens, consider staking $AVAIL tokens to enhance airdrop eligibility weight.

Overview of Lens ecosystem applications:

• Orb.club: Web3 social interaction platform
• Hey.xyz: On-chain identity and social network
• Tape.xyz: Innovative content creation and monetization methods
• Soclly: Web3 version of a professional social platform

All built on Avail's DA technology.

With the official launch of Lens Chain:

• Developers can access modular components for building social applications
• Users enjoy true content ownership + smart wallets
• Creators gain direct monetization channels (NFTs, tokens, subscriptions)

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