PANews December 18 news, according to Techcrunch, Aave protocol developer Avara announced the completion of a $31 million financing round led by Lightspeed Faction. Alchemy, Avail, Circle, Consensys, DFG, Fabric Ventures, Foresight Ventures, Stellarcore, Superscript, Re7, and Wintermute Ventures participated. Additionally, angel investors participating in this round include Anurag Arjun, Anton Bukov, Rune Christensen, Alex Gluchowski, Aleksander Leonard Larsen, Loi Luu, Spencer Noon, and Duncan Robinson. With Lens, Avara is building a decentralized protocol that provides infrastructure for social and consumer applications.
A few weeks after Lens announced its newly upgraded version Lens v3, the news of this financing round was released. Lens v3 is initially built on the Polygon blockchain, using consumer applications from Lens v2 including NFT creation and sharing application Zora, a Twitter-like platform Hey and Kaira, and an application focused on sub-communities called Orb. With Lens v3, the company is addressing one of the biggest issues in the web3 social experiment - transaction costs.
