Following Jack Dorsey’s statement about building Aave on Bitcoin, the CEO of Aave Stani Kulechov has asked his followers in a tweet if Twitter should be built on Ethereum.
After Jack Dorsey announced that he was constructing a new Bitcoin (BTC)-centric financial services platform with striking parallels to Aave, Aave creator Stani Kulechov advised his 90,000 Twitter followers on Saturday that his platform should build “Twitter on Ethereum.”
Since @jack is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum
— stani.eth rAAVE =(⬤_⬤)= (@StaniKulechov) July 17, 2021
Square Inc., Dorsey’s mobile payment company, announced on Thursday that it was launching a new business “focused on establishing an open developer platform with the sole objective of making it easier to construct non-custodial, permissionless, and decentralized financial services.”
Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD.
— jack (@jack) July 15, 2021
Bitcoin would be the main focus, according to the tweet, which had over 34,000 likes at the time of posting.
Kulechov hinted in his response that Dorsey’s business concept is comparable to Aave, an open-source, non-custodial DeFi protocol that allows users to borrow assets while earning interest on deposits.
While it’s unclear whether Kulechov’s Twitter-on-Ethereum proposal is genuine, he did say that Aave co-founder Jordan Lazaro Gustave would be in charge.
@JordanLzG will lead this effort
— stani.eth rAAVE =(⬤_⬤)= (@StaniKulechov) July 17, 2021
Aave has become one of the most widely used DeFi protocols, with demand for its services increasing even among traditional investors.
Aave had announced it wants to introduce a permissioned version of its platform for institutional investors early this month.
Dorsey’s ambition to bring DeFi to Bitcoin comes after Square announced in early June that it was looking into developing an open-source Bitcoin hardware wallet.
The entrepreneur emphasized the necessity of self-custody and the need for new crypto users to be onboarded via mobile technologies.
