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Lens protocol recently raised $31M, led by Faction Ventures, to fuel the growth of SocialFi. Last year, it raised $15M. still far less than Farcaster's total funding of $180M.
Lens has now added "Finance" to its slogan, claiming to be the fastest, lowest-cost Ethereum network for both social and financial applications, while offering modular features to build, earn, and scale. Farcaster doesn’t emphasize SocialFi, but it is actually an onchain economy growing with crypto.
Though the two share similarities and are often compared, I’ve always felt that Farcaster’s greatest advantage over Lens lies in its people, especially its community of builders, creating innovative projects on its open protocol. Personally, I view Lens as a valuable reference for Farcaster, offering opportunities to learn from each other’s strengths and collectively advance the development of onchain social protocols.
https://x.com/LensProtocol/status/1869384504265384425 3 replies
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