According to WuSay, Avara founder and CEO Stani Kulechov is seeking to raise $50 million from US venture capital firms to fund the social media platform Lens Protocol. The financing will bring the valuation of Lens Protocol to $500 million. Kulechov said that the current main goal is the upcoming Lens Network, a local network built on the ZKsync technology stack. It is worth noting that four weeks ago, its competitor Farcaster raised $150 million at a valuation of $1 billion.