PANews reported on June 18 that according to DL News, people familiar with the matter revealed that Avara founder and CEO Stani Kulechov is approaching US venture capital firms to secure a new round of financing for Lens Protocol. Avara founders are seeking to acquire the social media platform Lens Protocol for $50 million, a deal that would value the social media platform at $500 million. Avara's spokesperson did not confirm or deny these figures and declined to comment further.
When asked about the Lens Protocol’s token launch, Kulechov said they are “not that far along yet.” He said the main goal is the upcoming launch of Lens Network, a native network built using the ZKsync technology stack. Avara is an umbrella company that oversees the lending protocol Aave, Lens Protocol, Family, its crypto wallet, and the GHO stablecoin.