Lens Chain V3: Highly scalable SocialFi Layer 2 Network Based on Avail DA

Author: Stacy Muur

Compiled: Tim, PANews

When social applications on general-purpose blockchains reach development bottlenecks, they will build their own exclusive chain and migrate 125GB of social historical data over.

That's exactly what Lens Chain does by launching a SocialFi L2.

This L2 DA (Data Availability) technology powered by Avail can support billions of users at low cost.

Social media is the most widely used consumer-grade product on the Internet.

5.4 billion users use an average of 2.5 hours a day, but it is based on a closed and broken underlying layer: an unavoidable review mechanism, a platform-bound personal information, an account that may be cancelled at any time, and other issues.

Lens is a social protocol based on Avail and centered on user ownership.

What is Lens Chain?

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

Open garden, free platform.

You have your own social map.

Core Technology Stack:

• Using ZKSync elastic chain to achieve high-speed transaction execution
• Avail serves as the DA layer to ensure the availability of censorship-resistant data
• Use GHO as native Gas token
• Implement walletless login via Family

This is a customized technology stack, and Avail is the core extension component.

Choosing Avail proved to be a smart decision because SocialFi applications require cost-effective, large-scale data availability solutions to reduce costs. The cost of Ethereum blobspace solution is 10 times.

Why does SocialFi have strict infrastructure requirements?

First, social networks generate massive data:

Profile, posting, interaction, follow and media.

Therefore, Lens requires a data availability layer that can scale horizontally, which must be able to meet the explosion of demand and increase correspondingly with the increased block space without sacrificing security or decentralization.

The only one that meets the criteria is: Avail DA layer.

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

Lens V3: SocialFi evolution

• Programmable smart account (static NFT is no longer supported)
• Global Social Map: Supports advanced attention features and social relationship query
• On-chain native functions: token gated content, paywall, micro payment
• Seamless developer experience: Build social features at unprecedented speed

Lens chooses Avail over other options:

• Horizontal scaling capability: Block size is from 4MB → 128MB → Recently announced that it will achieve a leap of 1GB → 10GB
• Fast endgame: Currently about 40 seconds, the target is shortened to about 250 milliseconds
• Peer-to-peer DAS technology: Powering light clients without trust
• Cost Advantage: Data availability cost is more than 90% lower than Ethereum
• Modular design: compatible with ZKsync, Validiums, Optimistic rollups and other expansion solutions

Avail's huge income opportunities

As Lens grows, every post, like, follow and share comes into contact with the Avail DA layer.

Other L2 and Rollup expansion solutions and application chains are following up.

More links to → More data generation → Avail capture costs more.

The processing cost of Avail is only one-tenth of that of Ethereum Blobspace.

In order to scale like traditional social platforms, SocialFi requires a low-cost data availability layer.

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

If Avail's DA layer is used, this cost can be reduced by 90%.

This is exactly the marginal benefit Avail achieves through scale.

Lens has raised more than $46 million in funding, and the project was created by Aave founder Stani.

No tokens have been issued yet and now they have their own chain.

If you have used Lens ecological applications such as Orb, Tape, Hey, and Soclly in the early stages, you are likely to get annual SocialFi airdrop opportunities.

Given the strategic partnership between Avail and Lens, it is possible to consider pledging $AVAIL tokens to increase the weight of short investment units.

Introduction to Lens ecological application:

• 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 professional social platform

All are built based on Avail's DA technology.

With Lens Chain officially launched:

• Developers can obtain modular components for building social applications
• Users enjoy real content ownership + smart wallet
• Creators obtain direct monetization channels (NFT, tokens, subscriptions)