Lens Protocol, the decentralized social media platform that originated from DeFi lending giant Aave, has announced the introduction of a new open governance model. This model will allow community members to propose improvements to the protocol through Lens Improvement Proposals (LIPs). This model is inspired by Ethereum and Aave’s improvement proposal framework, and is intended to create a platform for developers, creators, and users to participate in the decision-making process of Lens’ future development.
Currently, there are three live proposals. The first proposal establishes the open governance model, while the second and third proposals focus on open standards. The second proposal will encourage third-party algorithms and machine learning (ML) services to be integrated into Lens Protocol, and the third proposal defines how metadata is classified, organized, and labeled within Lens, according to the announcement.
The open governance model was announced one week after Lens Protocol raised $15 million from a group of high-profile investors. According to the GitHub page for LIPs, which was contributed to by Aave founder Stani Kulechov and Aave senior engineer Josh Stevens, LIPs provides the basis to ensure that Lens Protocol remains flexible and uniform across all potential use-cases, improvements, and ideas within the community.