Will Lens Protocol’s Permissionless Model Mirror Farcaster’s Growth?

• Lens Protocol shifts to a permissionless model, enabling broader user participation.
• Farcaster gains traction with in-app NFT minting, and gaming features.

Lens Protocol, a decentralized social graph platform, has transitioned into a “permissionless” phase, welcoming all users to join the network by creating an on-chain NFT for their profile. This move marks a shift from its previous model, where profile creation was limited to selected users.

The new process allows anyone to mint a Lens profile by paying a fee of 10 Matic tokens or an equivalent amount via credit card. With Lens debuting on the Polygon blockchain in May 2022, this step opens access to the platform for a wider audience.

Described as a social graph, Lens Protocol offers a decentralized and user-owned map of connections and relationships between individuals and entities. Through NFTs serving as user profiles, participants can engage with decentralized applications (dapps) within the ecosystem.

Meanwhile, the decision to embrace a permissionless model comes amidst a competitive landscape in the decentralized social media. Lens faces rivalry from platforms like Farcaster, which also transitioned to a permissionless model in October 2023 after its launch on Optimism.

Robust Future?

Founder Stani Kulechov highlights Lens’ gradual approach to development, emphasizing enhancements in security, and scalability, and fostering a vibrant developer ecosystem during its beta phase.

Lens version 2 introduces Open Actions, enabling the execution of external smart contract actions directly from content posts. This feature empowers developers to create custom operations, such as minting NFTs on OpenSea, directly from Lens’ platform.

Furthermore, the emergence of Farcaster as another prominent DeSo protocol, boasting over 203,000 users, underscores the growing demand for platforms that seamlessly integrate social networking with Web3 activities. With both Lens and Farcaster experiencing exponential growth and offering compelling features like in-app NFT minting and gaming, it’s evident that users are increasingly drawn to decentralized platforms that offer diverse and engaging experiences.