Meta is working on a standalone decentralised social network for text updates, similar to the centralised Twitter. The service could be a competitor to the popular microblogging service and will offer support for ActivityPub, a protocol used by Twitter-rival Mastodon and other federated apps.

source https://www.gadgets360.com/social-networking/news/meta-instagram-branded-decentralised-social-media-network-text-updates-report-3848922#rss-gadgets-all