Founder Stani Kulechov: “Aave Should Build Twitter on Ethereum”
Aave Founder Stani Kulechov hinted to his 90K Twitter followers on Saturday that his DeFi platform should build “Twitter on Ethereum” after Jack Dorsey, Square CEO, said he was developing a new Bitcoin (BTC)-centric financial services platform with an awful lot of similarities to Aave.
The Square CEO tweeted on Thursday that his mobile payment company, is creating a new business “focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.”
Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD.
According to the he tweet, Bitcoin would be the primary focus. At time of publication the tweet has been liked 34.2K times and retweeted 7.5K times.
Kulechov’s response hinted that Dorsey’s new business idea is very similar to Aave, an open-source, non-custodial DeFi protocol that enables users to borrow assets and earn interest on deposits. While it’s not clear if Kulechov’s Twitter-on-Ethereum plan is serious, he further tweeted that Aave co-founder Jordan Lazaro Gustave will lead the project.
Aave, which was one of the first true DeFi applications, has become as one of the most popular DeFi protocols on the market, with demand for its services growing even among traditional investors.
Aave has announced plans to launch a permissioned version of its platform for institutional investors as early as this month.
Jack Dorsey’s plan to introduce DeFi to Bitcoin follows an announcement from early June that Square is exploring the development of an open-source BTC hardware wallet. The Founder of Square and Twitter has stressed the importance of self-custody and the need to onboard new crypto users through mobile technology.
