Lens said, “V2 retains a unique open design space, giving developers and integrators the choice to use the Lens protocol as they wish, and the opportunity to collaborate in this shared social network, not just limited to activities such as commenting, mirroring, collecting, etc., but also supporting third-party actions, such as minting on OpenSea, Sound.xyz, purchasing NFT tickets, etc.”
Web3 social protocol Lens Protocol and Aave founder Stani Kulechov announced the Lens Protocol V2 version at the EthCC (Ethereum Community Conference) in Paris, which mainly includes Open Actions, Open Namespaces, Profile V2 (empowering Profiles with ERC-6551), upgraded Follow architecture, Collective Value Share, Metadata V3, on-chain shielding, Quote Publications and other features or functions.
Lens Protocol said the entire Lens V2 codebase has been rewritten, refactored, and optimized to improve readability, open source contributions, and developer experience.
Open Actions - composable social network
Lens said, “V2 retains a unique open design space, allowing developers and integrators to choose to use the Lens protocol as they wish, and have the opportunity to collaborate in this shared social network, not just limited to comments, mirrors, collections and other activities, and also supports third-party actions, such as minting on OpenSea and Sound.xyz, purchasing NFT tickets, etc.”
In other words, Open Actions can create a more native user experience for Lens ecosystem applications that want to perform external operations directly on Lens. Lens ecosystem apps can integrate with various third-party marketplaces and protocols to execute as Open Actions in user-created posts.
All operations can be plugged into the Lens collective value share chain to share value between people, applications, algorithms or other services that add distribution, curation or other types of value.
For example, with Open Actions, users can mint NFTs through OpenSea contracts directly on Lens posts. Other Open Actions use cases include following, buying and selling ERC-20 tokens or NFTs, joining a DAO, donating using Gitcoin, purchasing land from The Sandbox or Decentraland, joining a whitelist, receiving paid DMs, providing liquidity to DeFi protocols, etc.
Lens Open Actions extend the composability and modularity of Lens itself by plugging into any Web3 social app and supporting bidirectional integration.
Collective Value Share
Lens V2 also increases value sharing opportunities between users, algorithms, curators, and applications. Everyone can share in the revenue and be rewarded for collaborative actions.
For example, someone can post on Orb, one user can comment, another user can collect it, and on another app, like Buttrfly, the algorithm presents the content to curators, who bring in more viewers. In this case, the original content publisher may want to share the revenue to reward users, apps, and algorithms that contribute to each step of the value chain, thereby strengthening the value chain and strengthening the ecosystem partners and their business models.
This Collective Value Share model of Lens V2 gives users the option to implement a monetization model that rewards beneficial and altruistic behavior, which in turn supports collaboration between networks and sustainable ecosystem growth on the shared network.
Profiles V2
Profiles V2 is also the upgrade that I look forward to the most, including the use of ERC-6551 to enable Profile as a wallet, Profile as the core identity for all operations, the new Follow V2 architecture, and Open Namespaces.
Among them, with ERC-6551, Lens V2 reintroduces the power of composability by providing out-of-the-box support between Profiles and the ERC-6551 standard. In V2, minted and collected value can be accumulated into Profiles instead of their owners’ addresses, giving NFTs their own social connections, voice, and monetization opportunities. For example, a CryptoKitty NFT can create its own value chain by using a Lens Profile, following other CryptoKitties and publishing content.
In addition, the "Follow" relationship in V2 was changed from a relationship between Profiles and wallets to a relationship between Profiles, which means that all social operations occur between Profiles.
In the new Follow V2 architecture, all follow relationships are attached to Profiles, not followers. If you move your Profile from one address to another, your social network moves with your Profile. NFT tokenization is now optional.
For Open Namespaces, users can transfer their Handles without transferring their Profiles, both of which are tokenized as NFTs.
Profile Manager
The Profile Manager feature allows Lens Profile to delegate social operations to different wallets, improving Lens Profile’s security layer by allowing users to store their Profile directly in a hardware wallet and use it with any other wallet.
That is, the profile of a DAO or community can be stored in a smart contract and used from one or more other addresses. Social operations can be delegated to applications to improve the user experience of gas-free and signature-free transactions.
In addition, Lens V2 also introduces the Quoted Publications feature, which is similar to quoted tweets. In terms of security, it also includes on-chain blocking, Profile protector and other functions. On-chain blocking means that the blocked profile cannot follow, comment, mirror, quote, collect, etc. any operations on the blocked profile;
Overall, Lens has been upgraded and enhanced in terms of combinable social networking, value sharing, and ERC-6551 enabling Profile as a wallet. It not only helps to absorb more applications, but also provides great benefits to individuals, developers, and applications. flexibility, and all stakeholders can share the value of the social network.
