I analyzed & summarized the workings of Warden Pledge (/ Pledge), a product created by @paladin.lens

In a nutshell, Pledge is at the crossroads between Warden Boost, where you can monetize your veBoost, and Quest, where you can incentive your future return via underlying protocols with the $veToken system (@curve.lens , @balancerprotocol.lens , @angleprotocol.lens, @StakeDAOHQ:) establishing the veBoost market on $veToken

Let's go to have a look on my thread: twitter.com/0xboka/status/1712820956744569058

This week, I analyzed and synthetized the workings of @lensprotocol

In short, @lensprotocol has positioned as a veritable toolbox for decentralized social networks (Web3.0). The aim of @lensprotocol is not to become a social network, but to build an ecosystem with numerous decentralized communities, ideas, applications, tools & systems &, ultimately, governed by DAOs!

There's only one thing you can do: build applications on top of it using this fabulous development kit for decentralized applications: @lensprotocol , as many teams supported & pushed by the project have already done

Users can become Lens's users by obtaining ProfileNFTs if they are on the @lensprotocol whitelist. This whitelist grows over time, enables us to stabilize the protocol step by step & to maintain the growth of @lensprotocol according to its use cases, its uses, the applications built on the top, etc…

ProfileNFT is the heart of @lensprotocol interactions, data is not attached to a private database belonging to a company but to the users, it contains the history of all the posts, mirrors, comments & other content about the user

FollowModule, linked to a ProfileNFT, contains a logic to be executed when a user wants to follow a profile, it is the bass of this famous decentralized social graph linked to the user

Users can follow others Lens ProfileNFT and receive an FollowNFT (ERC721). Content creators & communities can add parameters to this FollowNFT. These FollowNFTs have the ability to manage governance features for DAOs! Wouah!

CollectModule contains the logic to be executed when a ProfileNFT attempts to collect a publication, allowing users to transform publications & comments into NFTs (ERC721)

ReferenceModule contains the logic to be executed when an user wants to comment or to mirror a publication. The conditions of the parent publication's ReferenceModule must be respected.

Users can publish publications:

• which can be collected in NFT (ERC721) thanks to the CollectModule because it has a URL

• and add certain conditions to their publications using the ReferenceModule

Users can post comments linked to publications:

• which are subject to the conditions of the parent publication (of the sender user) via the Publications ReferenceModule

• which can be collected in NFT (ERC721) using the CollectModule, as it has a URL

• and add certain conditions (comments & mirror comments), using the ReferenceModule

Users can reflect publications:

• that can't be collected in NFT because they have no URL (like posts or comments)

• which allows you to add conditions to mirror, thanks to the ReferenceModule

Users can monetize their contents when other users want to collect their posts in NFT, thanks to ReferenceModule

@lensprotocol is not yet open to all, and available on whitelist, as the team wants to control the growth in the number of users for various reasons. @lensprotocol governance is currently managed by a multisig, but decentralizing Lens governance is not an option for the team! Good vision!

Spoiler, in my opinion, @lensprotocol is not a protocol: it's an ecosystem. Lens supports, finances & helps the development of many projects, the goal of these teams: to build dapps on @lensprotocol ! Today, the flagship product is undoubtedly @lenster.lens , in which we can see how the @lensprotocol works in practice!

What I like about @lensprotocol :

• their desire to develop a genuine ecosystem & there are many more applications than those shown on this infographic (www.lens.xyz/apps),,) not to mention the Lens protocol partnerships

• everything has been done to make @lensprotocol a complete toolbox for building decentralized social networks & applications that feed this ecosystem

We can see a few suggestions for improvements to @lensprotocol :

• we still need to build the applications supported/funded by @lensprotocol , as some don't yet have users

• FollowNFT has built-in governance capabilities (to manage DAOs), but I haven't yet seen any DAO tools or projects deployed on @lensprotocol , maybe there already are?

Today marks our 1 Year Anniversary of making friends onchain 🎂!

Thank you to everyone who has made the first year of Lens Protocol so special and groundbreaking. Lens has brought together builders, creators, communities, and friends, all while in beta.

There's so much planned for the second year ahead, and we can't wait to continue to grow with all of you.

Who did you become frens with on Lens? 

🎨 by @nftsushi.lens and all collect proceeds go directly to the artist.

This week I analyzed and synthesized the functioning of the @aaveaave.lens ve protocol

In one sentence, @AaveAave is the leader of decentralized money markets, but especially one of the biggest DeFi protocols, maybe the biggest in terms of TVL. @aaveaave.lens allows users to deposit assets & earn interest or borrow assets by providing collateral & paying interest

You can:

• Have a first step of composability on your assets by depositing them as collateral

• Borrow assets with your collateral: handy when you don't want to sell your long position 😉

• Make loops in order to create a healthy leverage effect (leverage < collateral), beware of liquidations!

1. Liquidity providers deposit their tokens in @aaveaave.lens%E2%80%99s lending pools, depositors receive a yield based on the utilization rate of their assets & aTokens (= proof of deposit)

2. At the heart of the @aaveaave.lens protocol, the lending pools are smart contracts, they manage & regulate all the users' lends & borrows, they mint & burn the aTokens when the users deposit & withdraw from the supply

3. Once a collateral is deposited, depositors can borrow assets by paying interests, they can vary mainly according to the asset borrowed & the utilization rate of this asset

4. The borrowers can choose a variable rate which benefits the markets so in the vast majority of the cases, more interesting, this one depends on the offer & demand or a stable interest rate which is not modified in the short time

5. When you are a borrower, the health factor is the most important thing of your loan, it is absolutely necessary to monitor and control your HF, it is a security index on your loan:

   • 1: you are not at risk of potential liquidation, everything is fine

   • =1: you are potentially subject to liquidation, but your position is probably not yet profitable enough for the liquidators

   • <1: your loan will get liquidated, you will lose your deposit & loan because borrow > lend

6. Health factor formula: ∑ (value collateral * liquidation threshold) / ∑ value borrow

7. Like any money market, and any loan, there are liquidators on @aaveaave.lens: external liquidators (bots) can liquidate potential positions (with a HF < 1) to avoid @aaveaave.lens having bad debts (uncollateralized debts), to compensate themselves, these liquidators earn a liquidation bonus

8. All asset prices on @aaveaave.lens are provided from oracles: notably Chainlink

9. Users can adjust 2 well known parameters with the release of @aaveaave.lens V3:

   • Isolated mode allows to restrict the collateral to one asset: other assets are not subject to liquidation

   • E-mode: allows to maximize collateral when assets are correlated (example: different stablecoins)

10. The @AaveAave treasury earns an interest on those paid by the borrowers, this interest corresponds to the reserve factor, it depends on the borrowed asset & the rate paid by the borrowers

AAVE holders & liquidity providers of 80AAVE/20ETH (liquidity pool on @balancerprotocol.lens ) can stake their tokens in the Safety Module and earn a yield paid by the ecosystem reserve

11. The ecosystem reserve is intended to reward stakeholders participating in the @aaveaave.lens protocol, including external contributors involved in governance such as @llama, @aavechan or @aavegrants, the development team, as well as participants in the Safety Module

12. The Safety Module serves as an insurance for the lending pools in the @aaveaave.lens  protocol, let's imagine that Aave generates a bad debt, the safety module can insure up to 30% of these losses: but this has never happened!

13. AAVE holders can participate in the governance of the @aaveaave.lens  protocol, they can

vote & decide on the outcome of Aave Improvement Proposals (AIPs):

• adjust the liquidation thresholds

• change protocol fee model

• add/remove allowed token, contracts & protocol list

• govern insurance pool, money market & ecosystem reserve

What I liked about @aaveaave.lens :

• There is no need to store your tokens to participate in the governance, unlike vetokenomics, so there is no lock of tokens, just a cooldown period of 10 days in the safety module, this allows to ensure coverage on the lending pools in case of market down

• It is a leading protocol of the current DeFi: in a word a bluechip of the DeFi

@stani.lens Maybe you are interested by theses kind of infographics on Lenster?