The Lens Protocol ecosystem is experiencing increasingly exciting developments as recently the price of NFTs continued to peak at a price of more than $80, equivalent to a 1,100% growth compared to August 2022, meaning that it was only a short time ago. 6 months. In addition, the Co Founder of the project who is also the Co Founder of AAVE also posted a meaningful tweet that readers thought was a sign of retroactivity.
In the most recent article about the Lens Protocol ecosystem, Lens Protocol: The Decentralized Social Network Ecosystem is Growing Stronger, we have reviewed the outstanding projects and parameters, now let’s look back. Lens Protocol ecosystem after 3 months.
To better understand Lens Protocol, people can refer to some of the articles below:
- What is SocialFi? TOP 5 Most Outstanding SocialFi Projects Currently
- What is DeSocial? Growth Potential of Decentralized Social Networks
Lens Protocol Overview
Lens Protocol is an extremely diverse social network ecosystem of content built and developed by AAVE’s team on Polygon. To be able to participate in using services and products on Lens Protocol, you need an NFT issued by the platform itself.
Up to now, the price of an NFT of Lens Protocol is about $80, equivalent to a growth of 1,100% in just 6 months. To explain this we have a few reasons as follows:
- The number of NFTs released is small because the project has not been able to expand to many users recently. The development team is still focused on improving the UI UX for the first users, from doing well for these users, then expanding to more users.
- The number of participants to have the opportunity to receive retroactive is increasing. It can be said that Lens Protocol is one of the most developed decentralized social networks today. Besides, the project was built by the team that developed AAVE, so the community is extremely bullish about the fact that this project will be retroactive for users. Use OG.
Simply put, with the Lens Protocol, supply is smaller than demand, so the price growth of NFT Lens is quite understandable.
Update on the Development Status of the Lens Protocol Ecosystem
Some indicators of Lens Protocol
Up to now, a total of 110,066 Lens Protocol NFTs have been minted on the market and nearly 97% of NFT holders have set up profiles on the LensFrens platform. This shows that most Lens Protocol NFT holders, after owning the NFT, participate in this ecosystem.
If calculated from 3-4 months ago, the number of NFTs has only increased by a few percent, but the surge in user demand after the Hooked event was launched on Binance has caused NFT prices to increase sharply.
User activity parameters on Lens Protocol
When looking at the images above, we can draw some of the following conclusions about the performance of Lens Protocol in recent times:
- The number of active monthly users on Lens Protocol peaked in November 2022 but then had two consecutive months of decline. However, if we look back under the active daily frame, in early February we had positive signs when users returned after the year-end and Tet period. Exactly on February 10, 2023, the number of daily users on Lens Protocol reached a new peak compared to November 2022.
- Along with the relatively strong growth in the number of users, the number of transactions created on Polygon also increased rapidly.
A Look at Outstanding Projects on the Lens Protocol Ecosystem
The number of projects on the Lens Protocol ecosystem has grown very strongly in recent times. Besides, if in December 2022 the Lens Protocol ecosystem only had about 10 categories, up to now there are up to 16 different categories, equivalent to a growth of 60% within about 3 months. .
At the same time, the number of Lens Protocol partners also increased rapidly. Currently Lens Protocol has major partners such as Opensea, Toucan, Alchemy, Zerion, Snapshot, Gelato, Ethereum Name Service, Livepeer, POAP,…
Let’s take a look at the projects on the Lens Protocol ecosystem including:
- Social Media: Buttrfly, DiverseHQ, Emso Collective, Fanstatic, Lenster, Lenstube, Onboard, ORB, Phaver, Meme, Share, YUP.
- Curation: Lensport, Lensta, Pinsta.
- Tools: Embed, Pocalize, Garden, Greenhouse, Imlens, Lens List, Lens Profile, Lens Share, Lens Wrap, Lenscast, Lensdrop, Postter,…
- Analytics: Bello, Leaderboard Withlens, Lens Analytics, Lens App Stats, Lens NFT Profiles, Lentics,…
- Music: Beats, Decent, Lyrical World, Amnisiac, Ooh La La, Spinamp, StemsDAO,…
- Events: Ticklens, Web3Event, Welook.
- Identity: Eden Protocol, Lens Human, Mydome, MIMI, SISMO, Talent Protocol, Talent Layer, Talently,…
- Algorithms: Cultivator, Mashmesh, Meetvers.
- Livestream: Clubspace, Huddleo1, RallyFM, The402.
- Community: Discord, Github, Lens Argentina, Lens China, Lenster, Lenstube,…
- Other: Hashchat, Kleoverse, F3rn, Memester, Troop Finance, Relay,…
Social Meida platforms
The ranking of the most active platforms on the Lens Protocol ecosystem does not have too many disturbances as Lenster temporarily occupies the TOP 1 position of Phaver while the TOP 4 remains steady with familiar names such as Phaver, ORB, Lenstube we can easily see that 2 mobile platforms and 2 PC platforms share the top 4 positions.
Meanwhile, the next positions have disturbances with the appearance of Lensport, Teaparty, Buttrfly,… This shows that the new platforms on Lens also have certain attractions for those who are interested. users on this platform.
Lenster – Twitter on the Lens Protocol ecosystem
|
Index |
February 2023 |
December 2022 |
% growth |
|---|---|---|---|
|
1 post |
24.7% |
35.8% |
decreased 10.9% |
|
2 – 5 posts |
25.5% |
21.1% |
increased by 4.4% |
|
6 – 10 posts |
12.4% |
13.6% |
decreased 1.2% |
|
10 – 20 posts |
16.6% |
8.2% |
increased 8.4% |
|
> 20 posts |
20.8% |
11.3% |
increased 9.5% |
The above indicators reflect that Lenster is operating relatively effectively when the number of accounts with only one post increase has decreased significantly, besides the number of accounts posting from 2 – 5 posts, from 10 – 20 posts and Especially those with 20 or more articles have seen significant growth.
The number of Posts and Comments on Lenster has been growing very strongly recently and reached a new peak a few days ago.
It can be seen that of all the products that the Lens Protocol development team has built by hand, up to now Lenster is the most successful platform as the usage is quite similar to Twitter – a popular Web2 social networking platform. Best for the crypto market at the moment.
Phaver – Mobile version social networking platform
Up to now, the number of active accounts on Phaver still remains at a high level equivalent to November 2022. Besides, the number of posts and comments on the platform also grew strongly and reached ATH during the sleep period.
Phaver has also had a number of positive activities in recent times as follows:
- Continuously organize events at bustling market times to attract new users to your platform.
- Phaver also recruits more developers to continue to improve, develop and upgrade its products.
- Phaver also organizes AMA sessions with platforms such as Zerion, ByWassies, The Smurfs Society,… to popularize its products to the crypto community.
ORB – DApp has significant upgrades
Similar to Phaver, ORV is also a decentralized social network on mobile platforms, however, recently ORB has had significant upgrades and updates to the platform such as:
- Feature update AI Post Summarizer Helps summarize long articles from the author to help readers quickly receive information.
- Feature introduction QR Scan Login This eliminates the need for users to connect to the NFT in their wallet in a complicated way.
- Update the messaging feature with any Lens and ENS users globally so you can connect easily globally and you can easily share your posts with friends.
- Integrating features such as Video, Music and Podcast helps users have multi-experience on the ORB platform.
- Improve image posting speed 10 times faster, have more images in one post.
It can be seen that ORB is one of the most active platforms on the Lens Protocol ecosystem. I firmly believe that with multiple experiences and a focus on user experience, sooner or later ORB will surpass Phaver to become the most popular Mobile platform on the Lens Protocol ecosystem.
Phi Land – Outstanding Gaming Platform on the Lens Protocol ecosystem
Phi Land has officially launched its products. Phi Land’s operating mechanism is relatively simple: when you transact on DeFi platforms, there will be NFTs representing those transactions, each type of transaction has a different NFT and the more transactions, the better. NFT will be upgraded to be bigger, better and more beautiful.
From there, through trading on Defi, you can build your own city in Phi Land. Currently, the project is hinting at issuing tokens and retroactives to the OG community.
RociFi – Credit Protocol platform updated to version V2
At the beginning of the year, RociFi launched version V2 with a number of updates as follows:
- Support more loan assets. RociFi V2 allows depositing and borrowing USDT and USDC with interest.
- Support more collateral assets. RociFi V2 accepts additional assets such as WETH, WBTC, MATIC, USDC, USDT and DAI as collateral.
- Launching many different loan terms currently from 7 – 30 days but in the future the term may be longer from 14 – 60 days.
- Launching bad debt deletion feature.
- Upgrading and changing the interface help users manage their deposit and loan positions more easily.
- Upgraded credit score contract.
- Enhance project security.
Some new projects and new updates
Troop Finance: The platform that increases connection between Social and DeFi has launched its own website. The project hinted that there will be more updates in the near future.
Lensport: updated version V2 with many updates such as:
- Gas-less posting, following, liking, collecting, mirroring.
- Your Lens timeline.
- View feed as another user.
- Likes and mirrors for posts.
- Share button.
- Default collect settings.
- Posting with audio, video, gifs, emojis
Relay: This will be the platform to bring GPT – AI chat, which has been extremely popular in recent times, to Web3.
Retroactive comes from Lens Protocol: Recent twitter account @StaniKulechov founder of AAVE and Lens Protocol tweeted about a relatively confusing number sequence. According to the community, this may be the block number that Lens Protocol has snapshotted, but Stani did not speak up to explain the meaning of this tweet.
Summary
It can be seen that the ecosystem within Lens Protocol is extremely vibrant. Projects continuously launch new products and features to attract users. However, most users are waiting for a huge retroactive event to come from this platform.
