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.”
Since @jack is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum
— stani.eth 👻 =(⬤_⬤)= 👻 🦇🔊 (@StaniKulechov) July 17, 2021
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.
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